Saguenay, Quebec -
Newsfile Corp. - July 25, 2024 - First Phosphate Corp. (CSE: PHOS) (OTC: FRSPF) (FSE: KD0) ("
First Phosphate" or the "
Company") is pleased to announce that all results from its drilling program at its Bégin-Lamarche project are now available. The 99 hole drill program totaling 25,929 m completed on its Bégin-Lamarche project has uncovered a significant high-quality igneous phosphate deposit. The drilling has shown continuous phosphate mineralization over a length of 2,400 m spread across 3 mineralized zones. A NI 43-101 resource estimate is now underway and will be immediately followed by a Preliminary Economic Assessment ("PEA"). "This drilling campaign has confirmed the presence of a high-quality igneous phosphate deposit in-line with expectation and in a logistically-favourable mining area at just 70 km from the deep-water port of Saguenay, Quebec," said John Passalacqua, CEO of First Phosphate. "We have already initiated a 43-101 resource estimate, which will be available in the coming months which will be immediately followed by a PEA."
Mountain Zone and Northern Zone A total of 23 drill holes were completed in the Mountain Zone totaling 5,023 m. The Mountain Zone shows grades of more than 10% P
2O
5 over widths ranging from 7 m to 99 m. The phosphate mineralized zones in the Mountain Zone reach a thickness of 177 m (Table 1). The Mountain Zone contains several veins of massive apatite of up to 2 meters thick. The Mountain Zone has been drilled over a total length of 250 m to date. This zone begins to merge (from the Southwest) with the Northern Zone (Figure 1) where a phosphate mineralized envelope (500 m thick) has been delineated by 19 drill holes totaling 4,831 m (Table 2). This zone further consists of 5 individual layers ranging from 60 m to 100 m in thickness from the surface continuing to a depth of 300 m. The total length of the Mountain Zone and the Northern Zone is approximately 600 m. The Mountain and Northern Zones remain open at depth.
Table 1 - Results for the Mountain Zone| MOUNTAIN ZONE |
| Drill Hole | From (m) | To (m) | Length (m) | P2O5 (%) | TiO2 (%) | Fe2O3T (%) |
| BL-24-46 | 155.2 | 177.6 | 22.4 | 14.33 | 5.83 | 28.28 |
| BL-24-48 | 32.0 | 39.65 | 7.65 | 15.01 | 2.59 | 19.17 |
| BL-24-51 | 70.0 | 111.0 | 41.0 | 7.72 | 1.88 | 16.09 |
| BL-24-53 | 70.1 | 132.4 | 62.3 | 9.50 | 4.12 | 28.45 |
| BL-24-53 | 154.1 | 246.0 | 91.9 | 6.92 | 3.50 | 20.08 |
| BL-24-56 | 6.5 | 99.0 | 92.5 | 11.82 | 5.29 | 30.96 |
| BL-24-56 | 123.0 | 162.0 | 39.0 | 8.43 | 3.18 | 17.56 |
| BL-24-59 | 6.55 | 59.4 | 52.85 | 12.44 | 5.65 | 33.60 |
| BL-24-62 | 69.0 | 144.65 | 75.65 | 9.97 | 3.66 | 20.71 |
| BL-24-64 | 3.0 | 42.0 | 39.0 | 9.06 | 4.11 | 25.45 |
| BL-24-67 | 3.0 | 87.0 | 84.0 | 11.85 | 5.09 | 32.49 |
| BL-24-69 | 29.0 | 65.1 | 36.1 | 9.81 | 3.26 | 22.36 |
| BL-24-74 | 82.0 | 102.3 | 20.3 | 10.30 | 4.28 | 19.01 |
| BL-24-76 | 49.0 | 64.25 | 15.3 | 11.27 | 4.40 | 24.29 |
| BL-24-78 | 47.55 | 102.7 | 55.15 | 8.72 | 3.18 | 19.87 |
| BL-24-80 | 2.4 | 74.55 | 72.15 | 6.59 | 2.37 | 16.23 |
| BL-24-82 | 6.0 | 83.7 | 77.7 | 11.07 | 3.28 | 18.63 |
| BL-24-85 | 102.0 | 134.0 | 32.0 | 11.54 | 4.28 | 25.80 |
| BL-24-90 | 6.0 | 90.0 | 84.0 | 10.15 | 2.82 | 21.43 |
| BL-24-92 | 15.0 | 192.0 | 177.0... |
Read more: First Phosphate Confirms Significant High-Quality Igneous Phosphate Deposit at Its Bégin-Lamarche...
