Foremost Lithium Resource & Technology Ltd. (NASDAQ:
FMST) (CSE: FAT) (“
Foremost Lithium”,
“
Foremost” or the “
Company”), a
North American hard-rock lithium exploration company, today
announced positive results returned from the rock sampling program
on its Peg North, Grass River Claims, Jean Lake, and Zoro
properties, including high-grade lithium values and spodumene
mineralization at both the Zoro and Jean Lake Property.
Dahrouge Geological Consulting Ltd. (“DGC”)
conducted a large-scale surface exploration program on Foremost’s
four Lithium Lane properties for Lithium Cesium Tantalum (“LCT”)
pegmatites this past summer, focusing interest towards pre-defined,
high-priority targets on the Zoro and Jean Lake Property.
“The compilation of work has yielded highly
promising results from sampling to date, and the team at
Dahrouge continues to demonstrate their ability to execute a
successful exploration program,” said Jason Barnard, President and
Chief Executive Officer of Foremost Lithium. “Our 2023
exploration campaign is focusing on our high-quality assets and is
supported by extensive geological data. The potential of this
fertile area gives us great confidence as we define drill targets
in preparation in this upcoming drill program. We look forward to
proving results for our company and our shareholders.”
Samples were shipped to SGS Laboratories
(Burnaby) for analysis which used a total dissolution of the sample
by sodium peroxide fusion and ICP-MS finish. This analytical
approach is the standard analytical technique used by the Company
on its Zoro and Jean Lake lithium projects. QAQC samples were
inserted into the sample sequence at a rate of 5%, utilizing
certified reference material and quartz blanks.
Zoro Property
Figure 1-0 – Grab samples taken on the Zoro Property
during the 2023 field program
At the Zoro Property, the mapped spodumene
occurrence at Dyke 1, was revisited for sampling and detailed
structural mapping to assist with targeting for the upcoming winter
drill season. This was revisited for sampling and hosts an inferred
resources of 1,074,567 tons at a grade of 0.91% Li2O, with a
cut-off of 0.3% in accordance with the Company’s SK-1300 Technical
Report Summary (2023) and NI-43101 Technical Report (2018). DCG
verified the presence of spodumene-mineralized pegmatite on surface
at Dyke 1. Eight (8) pegmatite samples, five (5) containing
spodumene, were collected for assay. Assay highlights can be found
in Table 1.
Sample ID |
Li (ppm) |
Li2O (%) |
Cs2O (ppm) |
Ta2O5(ppm) |
153291 |
9883 |
2.13 |
161 |
44 |
153292 |
2627 |
0.57 |
178 |
44 |
153293 |
2979 |
0.64 |
147 |
60 |
153294 |
479 |
0.10 |
418 |
106 |
153295 |
5062 |
1.09 |
364 |
37 |
153296 |
6734 |
1.45 |
252 |
94 |
Table 1 – Assay highlights from grab samples taken on
the Zoro property during the 2023 field program.
Figure 2-0 – Overview of the Zoro Property showing
spodumene-bearing pegmatites and untested LCT pegmatites which are
targets for future exploration.
Photo 1 – Large spodumene crystals at Dyke 1 on the Zoro
Property.
Photo 2 – A grab sample from Dyke 1 on the Zoro Property
that assayed at 2.13%
Li2O
Jean Lake Property
Spodumene-pegmatite occurrences (B1, B2, and B3)
that are collectively known as the “Beryl Pegmatites” were sampled
and mapped in further detail to assist with drill targeting for the
upcoming drill season. Additional overburden was stripped from the
B1 and B2 occurrence, revealing more spodumene mineralization. Four
(4) chip samples were collected during the 2023 field program,
three (3) of which were from spodumene bearing pegmatite. Samples
taken from the B1 pegmatite hosted coarse-grained, pale green
spodumene that ranged from 5cm to 0.70m (Photo 1). Samples taken
from the B2 pegmatite hosted abundant apple-green to yellow-green
spodumene that ranged from 5cm to 15cm (Photo 3). Assay highlights
are presented in Table 2 below.
Sample ID |
Li (ppm) |
Li2O (%) |
Cs2O (ppm) |
Ta2O5(ppm) |
153026 |
8434 |
1.82 |
24 |
1 |
153027 |
64 |
0.01 |
1 |
0 |
153029 |
8635 |
1.86 |
27 |
10 |
Table 2 – Assay highlights from 2023
chip samples field program
Figure 3-0 – 2023 chip samples on the
Jean Lake Property.
Photo 3 – Spodumene-rich boulder
excavated during historical blasting at the B2
pegmatite.
Photo 4 – Large spodumene crystals found in outcrop at
the B1 pegmatite; Sample 153026
Next Steps – Winter Drill Program
Steps towards applying for a work permit and
drill targeting are currently underway for a winter drill program
in the coming months on both the Zoro and Jean Lake Properties.
Drilling on Zoro will seek to expand the existing resource on Dyke
1, as well as further investigate the spodumene-bearing pegmatites
on Dyke 8 and Dyke 16. The drill program at Jean Lake will follow
up on the results from the winter 2023 drill program with the hopes
of expanding the high-grade spodumene occurrences at B1 and B2.
Qualified Person
The technical information contained in this news release has
been reviewed by Matthew Carter B.Sc., P.Geo., of Dahrouge
Geological Consulting, who is a “Qualified Person” as defined in NI
43-101 and as defined by SEC’s S-K 1300 rules for mineral deposit
disclosure.
On Behalf of the Board of DirectorsJason
Barnard, President and CEOEmail: info@foremostlithium.com Phone: +1
(604) 330-8067
About Foremost Lithium
Foremost Lithium (NASDAQ: FMST) (CSE: FAT) (FSE:
F0R0) (WKN: A3DCC8) is a hard-rock lithium exploration company
focused on empowering the North American clean energy economy.
Foremost’s strategically located lithium properties extend over
43,000 acres in Snow Lake, Manitoba, and hosts a property in a
known active lithium camp situated on over 11,400 acres in Quebec
called Lac Simard South.
Foremost’s four flagship Lithium Lane Projects;
Zoro, Jean Lake, GRC, and Peg North as well as its Lac Simard South
project are located at the tip of the NAFTA superhighway to
capitalize on the world's growing EV appetite, strongly positioning
the Company to become a premier supplier of North America's lithium
feedstock. As the world transitions towards decarbonization, the
Company's objective is the extraction of lithium oxide (Li₂O), and
to subsequently play a role in the production of high-quality
lithium hydroxide (LiOH), to help power lithium-based batteries,
critical in developing a clean-energy economy. Foremost Lithium
also has the Winston Gold/Silver Property in New Mexico USA. Learn
More at www.foremostlithium.com.
Follow us or contact us on social
media:Twitter: @foremostlithiumLinkedIn:
https://www.linkedin.com/company/foremost-lithium-resource-technology/
Facebook: https://www.facebook.com/ForemostLithium
Forward-Looking Statements
This news release contains "forward-looking
statements" and "forward-looking information" (as defined under
applicable securities laws), based on management's best estimates,
assumptions, and current expectations. Such statements include but
are not limited to, statements with respect to the plans for future
exploration and development of the Company's properties and the
acquisition of additional exploration projects. Generally, these
forward-looking statements can be identified by the use of
forward-looking terminology such as "expects", "expected",
"budgeted", "forecasts", "anticipates" "plans", "anticipates",
"believes", "intends", "estimates", "projects", "aims",
"potential", "goal", "objective", "prospective", and similar
expressions, or that events or conditions "will", "would", "may",
"can", "could" or "should" occur. These statements should not be
read as guarantees of future performance or results. Such
statements involve known and unknown risks, uncertainties and other
factors that may cause actual results, performance or achievements
to be materially different from those expressed or implied by such
statements, including but not limited to: risks related to the
receipt of all necessary regulatory and third party approvals for
the proposed operations of the Company's business and exploration
activities, risks related to the Company's exploration properties;
risks related to international operations; risks related to general
economic conditions, actual results of current exploration
activities, unanticipated reclamation expenses; changes in project
parameters as plans continue to be refined; fluctuations in prices
of commodities including lithium and gold; fluctuations in foreign
currency exchange rates, increases in market prices of mining
consumables, possible variations in reserves; failure of plant,
equipment or processes to operate as anticipated; accidents, labour
disputes, title disputes, claims and limitations on insurance
coverage and other risks of the mining industry; delays in the
completion of exploration, development or construction activities,
changes in national and local government regulation of mining
operations, tax rules and regulations, and political and economic
developments in jurisdictions in which the Company operates. .
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. The
forward-looking statements and forward-looking information are made
as of the date hereof and are qualified in their entirety by this
cautionary statement. The Company disclaims any obligation to
revise or update any such factors or to publicly announce the
result of any revisions to any forward-looking statements or
forward-looking information contained herein to reflect future
results, events, or developments, except as require by law.
Accordingly, readers should not place undue reliance on
forward-looking statements and information. Please refer to the
Company's most recent filings under its profile at www.sedar.com
for further information respecting the risks affecting the Company
and its business.
The Canadian Securities Exchange has neither
approved nor disapproved the contents of this news release and
accepts no responsibility for the adequacy or accuracy hereof.
CompanyJason Barnard, President and CEO+1 (604)
330-8067info@foremostlithium.com
Investor RelationsMichael Kim or Brooks
HamiltonMZ North America +1 (737) 289-0835FMST@mzgroup.us
Appendix I – Sample Results Sample
ID |
Easting |
Northing |
Li (ppm) |
Cs (ppm) |
Ta (ppm) |
153026 |
452686 |
6076406 |
8434 |
22.7 |
1.1 |
153027 |
452688 |
6076418 |
64 |
1.2 |
0.25 |
153028 |
452657 |
6076470 |
14 |
2 |
2.9 |
153029 |
452827 |
6076320 |
8635 |
25.9 |
8.4 |
153288 |
458571 |
6078894 |
5 |
56 |
49.9 |
153289 |
458568 |
6078904 |
11 |
36.3 |
62.9 |
153291 |
458527 |
6078936 |
9883 |
152 |
36.3 |
153292 |
458535 |
6078935 |
2627 |
168 |
36.2 |
153293 |
458525 |
6078949 |
2979 |
139 |
49.4 |
153294 |
458502 |
6079056 |
479 |
394 |
87.2 |
153295 |
458495 |
6079046 |
5062 |
343 |
30.6 |
153296 |
458497 |
6079023 |
6734 |
238 |
76.7 |
153277 |
471636 |
6087768 |
36 |
12.4 |
39.8 |
153278 |
471631 |
6087751 |
35 |
10.1 |
23.3 |
153279 |
471616 |
6087740 |
25 |
11.8 |
35.4 |
153280 |
471567 |
9087169 |
35 |
15 |
72.8 |
153281 |
471493 |
6086820 |
25 |
7.6 |
2.9 |
153282 |
472496 |
6081260 |
27 |
1.5 |
0.25 |
153283 |
472491 |
6081264 |
13 |
4.2 |
0.25 |
153284 |
472315 |
6082485 |
26 |
19.8 |
0.6 |
153285 |
475656 |
6084561 |
23 |
1.1 |
0.25 |
153286 |
476536 |
6084594 |
16 |
1 |
0.25 |
153287 |
476588 |
6084569 |
17 |
1.6 |
0.25 |
153001 |
465525 |
6088798 |
48 |
2.3 |
0.6 |
153002 |
465654 |
6088773 |
44 |
15.5 |
7.6 |
153003 |
458683 |
6061725 |
410 |
40.8 |
0.6 |
153004 |
458683 |
6061725 |
57 |
5.3 |
2.6 |
153005 |
466525 |
6089258 |
121 |
5.7 |
0.25 |
153006 |
466829 |
6089572 |
40 |
0.8 |
0.25 |
153007 |
466403 |
6090059 |
74 |
13.1 |
5.4 |
153008 |
466484 |
6090068 |
98 |
0.4 |
0.25 |
153009 |
464309 |
6087074 |
48 |
14.2 |
1.3 |
153010 |
464304 |
6087070 |
55 |
15 |
0.6 |
153011 |
646310 |
6087068 |
80 |
28.8 |
1.9 |
153201 |
465908 |
6089973 |
41 |
3.2 |
0.9 |
153202 |
465895 |
6090518 |
24 |
1.8 |
0.25 |
153203 |
466004 |
6090730 |
68 |
1.3 |
1.1 |
153204 |
465988 |
6090927 |
36 |
6.8 |
0.25 |
153205 |
465985 |
6090927 |
58 |
3.4 |
0.25 |
153206 |
466070 |
6090815 |
57 |
3.1 |
0.6 |
153207 |
466223 |
6090617 |
139 |
5 |
1.4 |
153208 |
464184 |
6087760 |
61 |
3.1 |
0.25 |
153209 |
464200 |
6087765 |
102 |
10.4 |
0.9 |
153210 |
464214 |
6087759 |
82 |
2.9 |
0.25 |
153211 |
464221 |
6087752 |
93 |
4.7 |
1 |
153212 |
464220 |
6087740 |
117 |
0.8 |
0.25 |
153213 |
464253 |
6087861 |
149 |
18.2 |
3.9 |
153214 |
464209 |
6087925 |
79 |
6.1 |
2.9 |
153215 |
467965 |
6088927 |
99 |
3.2 |
0.5 |
153251 |
465064 |
6089353 |
17 |
0.05 |
0.25 |
153252 |
465220 |
6089935 |
82 |
3.2 |
0.25 |
153253 |
465204 |
6090028 |
24 |
2.2 |
1.2 |
153254 |
465165 |
6090227 |
21 |
15.8 |
4.8 |
153255 |
463953 |
6087389 |
61 |
1.1 |
0.25 |
153256 |
463722 |
6087178 |
57 |
3.6 |
1.2 |
153257 |
464160 |
6088129 |
65 |
4.3 |
0.9 |
153258 |
464123 |
6088061 |
51 |
6.5 |
0.7 |
153259 |
464186 |
6088007 |
94 |
4.1 |
0.7 |
153260 |
463651 |
6087816 |
54 |
13.9 |
2.1 |
153261 |
463708 |
6087726 |
37 |
6.5 |
0.9 |
153262 |
463601 |
6087879 |
42 |
4.1 |
1 |
153263 |
464220 |
6091437 |
51 |
2.1 |
0.25 |
153264 |
464226 |
6091441 |
58 |
1.5 |
0.25 |
153265 |
464282 |
6091429 |
54 |
2.4 |
0.25 |
153266 |
464304 |
6091510 |
64 |
1.5 |
0.25 |
153267 |
464114 |
6091186 |
16 |
0.1 |
0.25 |
153268 |
464111 |
6091189 |
18 |
0.2 |
0.25 |
153269 |
466647 |
6089091 |
43 |
43 |
11.2 |
153271 |
467009 |
6088844 |
5 |
0.05 |
0.25 |
153272 |
466675 |
6089738 |
62 |
0.8 |
0.25 |
153273 |
466646 |
6089833 |
15 |
37.1 |
7.7 |
153274 |
467140 |
6089650 |
11 |
2 |
0.25 |
153275 |
466714 |
6089336 |
49 |
12.6 |
6.5 |
153276 |
467176 |
6088904 |
97 |
4 |
0.25 |
Images accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/90466000-384d-49c6-b280-3299525c6c84
https://www.globenewswire.com/NewsRoom/AttachmentNg/b0114c4e-810d-4afc-897e-d03a5750b22b
https://www.globenewswire.com/NewsRoom/AttachmentNg/3b72d00c-8927-4f80-bedf-60ba4516faf2
https://www.globenewswire.com/NewsRoom/AttachmentNg/deacccd6-3b70-4802-bddc-6568230ca89d
https://www.globenewswire.com/NewsRoom/AttachmentNg/37638332-4844-4aaf-8a7a-ee93312d83e0
https://www.globenewswire.com/NewsRoom/AttachmentNg/4767bad9-3b79-4e6b-94dc-c805b042a983
https://www.globenewswire.com/NewsRoom/AttachmentNg/805be3b7-0663-44bf-bff0-280c350f5f1b
Foremost Lithium Resourc... (NASDAQ:FMST)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Foremost Lithium Resourc... (NASDAQ:FMST)
Historical Stock Chart
Von Sep 2023 bis Sep 2024