First Phosphate Corp. (CSE:PHOS) has released the results of its initial Mineral Resource Estimate for its Bégin-Lamarche project, located 50 kilometers to the north of the City of Saguenay, in Quebec, Canada.
Per the report, the project hosts an Inferred pit-constrained mineral resource of 214 million tons at 6.01% P2O5 (phosphate) and an Indicated pit-constrained mineral resource of 41.5 million tons at 6.49% P2O5.
At the Mountain Zone, there is an Indicated mineral resource of 9.3 million tons at 8.19% P2O5 and an Inferred mineral resource of 6.8 million tons at 8.57% P2O5.
Metallurgical test work indicated an anticipated apatite (phosphorous) concentrate grade of 40% P2O5 at a 91% recovery.
Additionally, the deposit holds the potential for the recovery of a magnetite concentrate (iron) and an ilmenite concentrate (titanium).
Notably, apatite, titanium and high-purity iron are all listed on the Quebec and Canadian critical minerals lists.
"We have demonstrated that the company benefits from a substantial strategic phosphate deposit located at only 70 km from the deep-sea port of Saguenay and Canadian Air Forces NATO Base Bagotville," First Phosphate CEO John Passalacqua said in a statement.
"Our goal will be to bring this Mineral Resource into Preliminary Economic Assessment (PEA) later this year to then be able to evaluate the commencement of a Feasibility Study."
The Bégin-Lamarche Mineral Resource Estimate was based on 120 drill holes totalling 29,762 m.