First Phosphate Obtains Drill Permits For 32,600 Metres Of Drilling
First Phosphate has obtained permits to conduct drilling at two of its properties found in Quebec. The planned drill programs are set to be conducted by First Nations Drilling of Mashteuiatsh, Quebec, with the company looking to provide opportunities for local employment as part of its exploration strategy.
“Today’s announcement is an important step in the development of First Phosphate’s six phase development plan for the North American lithium iron phosphate (LFP) battery industry,” said Peter Kent, President of First Phosphate.
The drill permits obtained apply to the Lac a l’Orignal property, as well as the firms Begin-Lamarche property, both of which are located north of Saguenay, Quebec. Permits obtained for the Lac a l’Orignal property are good for a total of 25,000 metres and up to 150 drill holes, with the program focused on expanding the known titanium-phosphate-bearing gabbronorite. A maiden resource estimate is currently being established for the property, with infill drilling to follow as the firm works towards completing a preliminary economic assessment.
Exploration at the Begin-Lamarche property meanwhile will consist of a maiden drill program, with the company planning to drill a minimum of 7,800 metres via a total of 38 drill holes. Grab samples at the property recently assayed 12% titanium dioxide and 18% phosphorous across a 1.5 kilometre strike length, which the company intends to follow up on with drilling to determine the continuity at depth. The drill program is anticipated to result in a maiden resource estimate as well.
WATCH: LFP Batteries: A $50 Billion Industry In The Making — With Peter Kent
“Our team is committed to producing battery grade phosphate material through clean and environmentally safe processing methods, for a consistent, ethically sourced supply right here in Quebec, Canada that benefits all of North America and the world,” Kent continued.
A timeline for the commencement of drilling was not provided, however the company indicated that it will be holding local information sessions on drilling plans from November 28th through to the 30th.
FULL DISCLOSURE: First Phosphate is a long investment of Canacom Group, the parent company of The Deep Dive. Not a recommendation to buy or sell. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
