Foremost Lithium CEO John Gravelle shared how the acquisition of 16,697 additional hectares will help deliver value for the company's shareholders.
Foremost Lithium CEO John Gravelle: 16,697 Additional Acres in Snow Lake, Manitobayoutu.be
Foremost Lithium Resource & Technology (CSE:FAT,OTCQB:FRRSF,FWB:F0R0) has entered into a binding agreement for the acquisition of a 100 percent interest in 16,697 additional hectares in Snow Lake, Manitoba. CEO John Gravelle shared how the acquisition will help deliver value for shareholders.
“That's a huge acquisition for us, and it's going to increase our total number of claims to 43,000 acres. And I like operating in Manitoba, which is a great jurisdiction. There's power, there's water, there's rail, there are highways. It's ready to go,” said Gravelle.
The acquisition consists of Manitoba Mineral Disposition No. MB3530, located north of the company's Jean Lake lithium project and west of its Zoro lithium project. Recently, Foremost Lithium intersected a new spodumene pegmatite and extended Dike 8 at Zoro; it also identified multiple new high-priority pegmatite targets at Jean Lake.
Gravelle said the company has identified an inferred resource of just over a million tonnes of lithium at Zoro, and is moving forward with a disciplined approach to exploration. The company will conduct magnetic surveys on the properties, move into product prospecting, get boots on the ground, walk the projects and then do geo work.
“We're going to continue with drilling on those projects to get more information, build up our resource and ultimately build it to a stage where we can start mining," he said. “We will definitely explore and build and operate a mine. There will be a need for processing the ore from the property into 6 percent spodumene concentrate, then that concentrate can be delivered to the factories that will produce lithium hydroxide, which is the key material that the battery manufacturers need to make the batteries."
Gravelle added, “We're moving forward as quickly as possible. We're going out as fast as we can, and we will be there for those factories.”
He noted that having a huge property footprint in Snow Lake, Manitoba, being in a jurisdiction where a lot of lithium has been found and having the right people is the right combination of factors to deliver value for shareholders.
Watch the full interview of Foremost Lithium CEO John Gravelle above.
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