{kanada_flagge}While one sometimes wishes the information flowed a bit more extensively at many small resource companies, you can’t complain about that at First Phosphate (CSE PHOS / WKN A3DQCH). The company, which aims to become a weighty player in the market for phosphate intended for the LFP battery industry, has again reported new, positive drill results from its Bégin Lamarche project in the Saguenay-Lac-St-Jean region in, Quebec, Canada.
{kanada_flagge}While one sometimes wishes the information flowed a bit more extensively at many small resource companies, you can’t complain about that at First Phosphate (CSE PHOS / WKN A3DQCH). The company, which aims to become a weighty player in the market for phosphate intended for the LFP battery industry, has again reported new, positive drill results from its Bégin Lamarche project in the Saguenay-Lac-St-Jean region in, Quebec, Canada.
Among the highlights of these results was drill hole BL-23-03, which detected 8.4% P2O5 (phosphorus pentoxide) over 64.2 meters. In addition, the Company now believes that the Layer 3 zone discovered with hole BL-23-02, which returned 8.4% P2O5 over 57.3 meters, extends to the latest hole. Thus, First Phosphate has demonstrated the continuity of Layer 3 on strike and down dip.
In addition, First Phosphate has identified another zone of mineralization – Layer 4 – which was encountered in both drill hole BL-23-03, between 143 and 201 metres depth, and in drill hole BL-23-04, between 4.8 and 45.0 metres depth.
“These drill results confirm the extension of the high grade phosphate layer originally discovered in hole BL-23-02, as well as a new fourth layer,” commented Peter Kent, President of First Phosphate. “In addition, the Company has now drilled 17 holes within the 2,000 meter main magnetic trend, all of which have phosphate layers ranging from a few meters to over 100 meters.”
The Company also announced that the new Layer 4 phosphate layer to the east has an average grade of 5.0% P2O5. Drilling results to date at Bégin-Lamarch thus indicate the presence of four major phosphate layers ranging in thickness from 60 to 83 metres and extending over a length of at least 300 metres. The grades range from 5.0 to 10.6% P2O5 (phosphate).
The results of seven additional drill holes drilled by First Phosphate at Bégin-Lamarche are still pending. The company expects these in the coming weeks, so that the news flow should not drop off anytime, soon.
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