First Phosphate's goal is eventual integration into the supply chains of major North American LFP battery manufacturers who require battery grade phosphate material sourced from a clean and safe supply source. First Phosphate holds more than 1,500 square kilometers of active exploration licenses in the Saguenay region of Quebec, Canada. First Phosphate is focusing exploration on geologically rare anorthosite igneous formations that generally yield a high purity phosphate concentrate without high concentrations of deleterious elements. First Phosphate aims to demonstrate that its phosphate deposits are particularly suitable for future LFP battery production.
First Phostphate is still private, but plans to go public shortly. It would then be the first and only phosphate company specializing in LFP batteries or their supply chains.
Figure 1: First Phosphate's exploration licenses are logistically located particularly conveniently near the village of Saguenay, which provides access to a deepwater port.
In the fall of 2022, Laurentia Exploration Inc. conducted a geological reconnaissance and sampling program on the Bégin-Lamarche project on behalf of First Phosphate. A total of 140 rock samples were collected during this extended reconnaissance and sent to the laboratory for analysis At the northern tip of Sector 1, a new high-grade phosphate discovery was made immediately north of the First Phosphate discovery. A thick layer of nelsonite (phosphate-bearing rock), possibly up to 130 m thick, returned between 7.51% and 14.16% P2O5 and between 2.09% and 18.14% TiO2. Initial analyses were performed using a portable XRF analyzer. A new phosphate mineralized area (Sector 3) was discovered approximately 4 km south and on strike of the initial discovery. Field investigations indicated that the nelsonite ranged in thickness from 30 to 60 meters.
Interpretation of the airborne magnetic surveys appears to indicate that the nelsonite found in Sectors 1, 2 and 3 may be part of the same nelsonite layer, giving a potential strike length of 8 km and a thickness of up to 130 m for the high-grade phosphate-bearing horizon.
Peter Kent, President of First Phosphate commented, "Begin-Lamarche is promising in that it could become a second major phosphate exploration area for the Company. "Igneous anorthosite comprises only about 1% of the total global phosphate reserves. These deposits could become highly desirable for the production of LFP battery material as they do not contain high concentrations of deleterious elements, as shown by the promising assay results at Bégin-Lamarche."
According to §34b WpHG i (Germany) and according to paragraph 48f paragraph 5 BörseG (Austria) we would like to point out that principals, partners, authors and employees of GOLDINVEST Consulting GmbH hold or may hold shares of First Phosphate and therefore a possible conflict of interest exists. We also cannot exclude that other stock letters, media or research firms discuss the stocks we recommend during the same period. Therefore, symmetrical information and opinion generation may occur during this period. Furthermore, there is a consulting or other service contract between First Phosphate and GOLDINVEST Consulting GmbH, which means that there is a clear conflict of interest.