Battery chemistry is changing fast: experts expect up to 50% or more new electric vehicles to run on LFP (lithium ferro-phosphate) batteries in as little as three to five years. Already, this cobalt- and nickel-free battery chemistry has a market share of around 30 percent. First Phosphate Corp., a (still) private company, is basing its business model exclusively on the increasing demand for high-purity phosphate for the battery industry.

The company is pursuing an ambitious plan to build an integrated North American supply chain that begins with mining and ends with refining of the cathode active material for the finished battery product. First Phosphate has chosen Saguenay-Lac-St-Jean in Quebec, which is perfectly located logistically, as the site for this "LFP Battery Phosphate Valley." Within a 100-kilometer radius of Saguenay, the company has secured almost blanket coverage of prospective magmatic phosphate deposits, which it is currently exploring. Drilling is planned for this spring. At Lac à l’Orignal it already has its 43-101 report produced with a 49 million tonne resource identified: https://firstphosphate.com/first-phosphate-reports-mineral-resource-estimate-and-mineral-processing-testwork/

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The Bégin-Lamarche bluesky project in the Saguenay-Lac-St-Jean region is considered particularly prospective. First Phosphate has just submitted another set of high-grade phosphate grades in surface samples. Highlights of the latest surface samples include several high-grade surface grab samples with up to 18.96% P2O5 (phosphate) and 6.81% TiO2 (titanium). Meanwhile, results from 70 surface samples confirm the high-grade nature of the phosphate discovery, with 30% of the samples grading greater than 10% P2O5. Combined with previous surface sampling and magnetic surveys, a 2.5 km by 400 m strike zone of rich phosphate rock layers can now be delineated on Project Bégin-Lamarche

Peter Kent, President of First Phosphate commented, "The expanded analysis of the Begin-Lamarche property continues to show some of the highest grade phosphate samples ever recovered in the Saguenay-Lac-St-Jean region of Quebec.

The host rock for First Phosphate's phosphate projects is what is known as "Igneous anorthosite". Only about 1% of the world's total phosphate reserves occur in this igneous intrusive rock. The vast majority of phosphate deposits are sedimentary, e.g. in Morocco or Tunisia. Sedimentary phosphate deposits, however, are considered less suitable for the production of battery-grade phosphate. First Phosphate believes that its deposits in Quebec have characteristics that are particularly advantageous for the production of LFP battery material, as they do not contain high concentrations of harmful elements.

 

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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.