First Phosphate Corp. (CSE:PHOS) has revealed a new high-grade phosphate discovery located 500 meters (m) from the existing northern zone of its Bégin-Lamarche project in the Saguenay-Lac-St-Jean region of Quebec.
The company's original find during a fall 2022 prospection campaign was further confirmed last fall with 26 grab samples showing elevated P2O5 (phosphate) levels, according to a statement.
The Larouche area within the Bégin-Lamarche project has consistently yielded high-grade analyses, with one sample standing out with an impressive 39.45% P2O5 in an irregular layer of pure apatite, a host mineral containing phosphate. At this level of purity, the mineral is deemed direct shipping ore.
The newly confirmed high-grade phosphate discovery is named the Mountain Zone, situated 500m north of the existing Northern Zone, measuring approximately 350m by 175m. Field observations indicate nelsonitic peridotite as the predominant rock type, the most favorable for phosphate occurrences on the property.
A total of 26 grab samples were collected in the Mountain Zone, with most returning grades between 7.17% and 17.83% P2O5. The average P2O5 grade for these samples is 10.6%.
Additionally, a second discovery, the Northwestern Zone, was identified west of the existing Northern Zone, with four out of eight samples returning grades exceeding 10% P2O5.
First Phosphate CEO, John Passalacqua, highlighted the strategic advantage of the property's proximity to the deep-sea port of Saguenay, approximately 70 km away, providing substantial logistical benefits.
“Bégin-Lamarche continues to show promise in delivering another significant phosphate horizon for the company,” he said in a statement.
First Phosphate is hoping to capitalize on the potential of Bégin-Lamarche as it evolves into a significant phosphate resource to serve the growing demand for electric vehicles. The firm is committed to the extraction and purification of phosphate, specifically for producing cathode active material used in the Lithium Iron Phosphate (LFP) battery industry.