First Phosphate Corp. (CSE:PHOS) released promising intersections of high-grade igneous phosphate from its ongoing drill program at its Bégin-Lamarche project in Saguenay-Lac-St-Jean, Quebec.
The assay results mark the third set disclosed from the 25,000-metre drilling campaign, which started in February 2024.
Highlights from the findings include 11.82% P2O5 (phosphate) over 92.5 m, starting from the surface at a depth of 6.5 metres at the Phosphate Mountain Zone.
Drilling revealed a substantial layer (90 m) of phosphate-bearing nelsonite outcropping at the surface, with multiple additional high-grade intersections exceeding 10% P2O5, the company noted.
At the Northern Zone, one hole assayed 7.76% P2O5 over 88.2 m from a depth of 186 m, including 9.33% P2O5 over 61.2 m.
Another 9.18% P2O5 over 40 m from a starting depth of 61.1 m was drilled at the Northwestern Zone, and 4.60% P2O5 over an extensive 190.8 m, commencing at a shallow surface depth of 4 m at the Southern Zone.
First Phosphate CEO John Passalacqua noted the thick layer of very high-grade igneous phosphate starting right at surface at the Phosphate Mountain Zone, which he said creates an “ideal scenario” for an open pit operation.
"The drill program will be completed on time by the end of May 2024 and a 43-101 resource estimate will begin immediately once all remaining assays have been received from the lab,” Passalacqua added.
To date, 20 drill holes have been completed in the Phosphate Mountain Zone, with results received for only five. Data from these holes exhibit grades exceeding 10% P2O5 across widths ranging from 7 m to 92 m.
The zone, extending 250 m, is beginning to merge with the Northern Zone, where a 500 m thick phosphate mineralized envelope, housing up to five individual layers, has been delineated.