Foremost Lithium

Foremost Lithium

Committed to Being a Canadian Supplier of Battery-grade Lithium Hydroxide to the Domestic EV Market

This Foremost Lithium profile is part of a paid investor education campaign.*



As the push for greener energy powers on, demand for electric vehicles has risen significantly from 2.1 million units sold in 2020 to 4.5 million the next year, according to LMC Automotive. The electric vehicle market cap exceeded the one for the combustion engine for the first time in late 2021, hitting C$1.52 trillion compared to C$1.47 trillion. And the US government has also announced plans to target 50 percent electric vehicle sales share by 2030, mirroring similar efforts in other countries.

Despite this, the supply of lithium is falling short. Major lithium producer Rio Tinto lost its license to produce the element, leaving a vacuum in the market for mining companies. And, as S&P Global Market Intelligence analyst Alice Yu states, “The lithium market is extremely tight at present, so spot prices are very sensitive to any supply disruptions.”

Canada finds itself in a unique position when it comes to domestic lithium production. In April 2022, it announced a C$3.8 billion initiative towards a critical minerals strategy. The country is replete with opportunities for lithium mining. The country is the site of four major lithium properties in Manitoba and the Northwest Territories, and the multitude of active local mining firms, as well as historical mining activities in the area, prove the viability of the region for lithium exploration.

One mining operation, for instance, has already invested into an ongoing 15,000-metre drill program. As Foremost Lithium CEO Scott Taylor told INN regarding this competitor, “I expect a steady pipeline of highly encouraging results in the next several months … of a prospective Snow Lake “Lithium Lane” emerging from the data which highlights new high quality Li2O development targets. We will continue to advance this prospective Lithium Lane thesis in similar fashion as Frontier Lithium’s (FL.V) Electric Avenue, a premium lithium mineral district located in Northern Ontario.”

The Government of Canada is on board as well, listing lithium as a critical mineral “vital to growing Canada’s clean, modern economy.” The element will play an essential role in the future economic security of the country, as well as its transition to a low-carbon economy. The government also aims “to position Canada as the leading mining nation, as set out in the Canadian Minerals and Metals Plan (CMMP).”

Foremost Lithium Resource & Technology (CSE:FAT,OTCQB:FRRSF,FWB:F0R0) is a green energy technology company focused to build one of the first North American companies to ethically and sustainably produce battery-grade lithium hydroxide from our Snow Lake Lithium projects. The company’s focus is to form strategic partnerships with lithium-battery manufacturers to supply the ever-growing global EV battery market.
Foremost Lithium Claim Status

Foremost Lithium is the second largest lithium exploration company in Snow Lake, Manitoba, and the business strives to use best-in-class methods to produce lithium in accordance with Canadian mining and exploration standards while reducing environmental impact whenever possible.

Foremost Lithium currently manages four lithium properties: Hidden Lake in NWT and Zoro, Jean Lake, and Grass River of which are within the mining-friendly town of Snow Lake, Manitoba. The area, housing a combined total acreage of 30,846, is ideal for current and future exploration with over 95 percent of the land coverage remaining to be explored.

Foremost Lithium Resource & Technology sits in an enviable position as the Canadian Federal Government recently announced its commitment to provide $3.8 billion to its first critical minerals strategy devoted to boost the domestic supply chain for electric vehicles, and Canadian lithium miners and exploration companies such as Foremost Lithium should benefit greatly from this cash injection.

Additionally Stellantis and LG Chem's LG Energy Solution (LGES) officially announced an over CAD$5 billion (USD$4.1 billion) investment in a battery gigafactory joint venture in Canada, with production expected to start in 2024 in Ontario. Foremost’s land position connects with Snow Lake Lithium (NASDAQ:LITM) and 1911 Gold (TSXV: AUMB) and it’s geographically close to “Auto Alley,” which contains the strategic infrastructure needed to streamline production and logistics.

Foremost Lithium Battery Projects

The company aims to grow its inventory of lithium-rich hard rock deposits through comprehensive and systematic drilling. Foremost Lithium is ready to make productive contributions to the electric vehicle market by processing its first production of lithium-rich spodumene ore into battery grade lithium-hydroxide concentrate, proving the quality of its assets.

On January 6, 2022, Foremost announced that it had received a permit from the Province of Manitoba to extract a 500kg bulk sample from its Zoro Lithium Property. The company plans to extract a 500-kilogram bulk sample of lithium mineralized spodumene-bearing pegmatite from Dyke 1 on its Zoro Lithium Project.

The bulk sample will be shipped to a reputable third party for metallurgical testing and process development. A 2020 peer reviewed technical publication co-authored with SGS Mineral Services concluded that spodumene-bearing pegmatite from Zoro Dyke 1 can be processed using industry standard metallurgy to produce a six percent battery-grade lithium (Li2O) concentrate.

The goal for the upcoming 500 kg bulk sample is to demonstrate that pegmatite from the Company’s Zoro Lithium Project is suitable to produce battery-grade lithium hydroxide (LiOH) thereby making it viable to market its lithium to strategic partners prior to development.

Foremost Lithium has multiple factors in its favour, including its location in the mining-friendly Manitoba region. Its dedication to domestic lithium production avoids many of the ethical and geopolitical concerns of many foreign locations. The pre-existing infrastructure, including roads and power lines, helps save on costs.

Drill samples obtained from initial exploration have shown promising deposits already. Its professional and experienced management team understands the mining industry and how to operate a company to methodically advance lithium exploration and deliver early-stage production results.

Company Highlights

  • Foremost Lithium is ready to accelerate operations at an ideal time when lithium demand will skyrocket thanks to the growing electric vehicle market, which will likely hit 48 percent by 2030.
  • Foremost hosts three lithium properties, Jean Lake, Grass River, and Zoro, located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories.
  • Its properties span 30,846 acres where over 95 percent remains unexplored, offering potential exploration upside.
  • Foremost Lithium operates in a mining-friendly region that is accessible and contains developed infrastructure.
  • Permitted metallurgical bulk production with SGS Labs to generate a 6% Li2O spodumene concentrate by September of 2022. XPS Labs will then convert the concentrate into battery-grade lithium hydroxide thereby proving viability to market its lithium to strategic partners prior to development.
  • The company’s future growth potential is immense as the Snow Lake region boasts 26,000 acres, of which 95 percent is yet to be fully explored.
  • Foremost will be releasing its entire airborne geophysics results, delivering high-resolution subsurface images over 100 percent of its Snow Lake lithium properties, using this technology to define a 3D location, shape, size, and distribution of potential spodumene-rich pegmatite dykes to de-risk drill targets for future drilling.
  • All of Foremost Lithium’s projects involve hard-rock spodumene pegmatite deposits, proven to be the most cost-effective and efficient choice for battery metal used in electric vehicle manufacturing.
  • Among the company’s projects, Zoro has obtained a permit to extract a bulk sample and is already on track to deliver a six percent battery-grade lithium hydroxide.
  • The enthusiastic management team is ready to develop these properties and drive shareholder value in a responsible and ethical manner.
  • Foremost also owns the Winston Gold and Silver Project, located in New Mexico which had sampling results that included 66.5 g/t gold and 4,619 g/t silver. It comprises 2,980 acres and shows the company’s prudent diversification.

Key Projects

Zoro Lithium Project

Zoro Lithium Project

20 kilometres east of Snow Lake, the Zoro Lithium Project is over 8,900 acres and has had over $5.5 million invested to date leading to 72 exploration boreholes and the discovery of 16 spodumene-rich pegmatite dykes. Zoro Dyke 1 offers an inferred 1,074,567 tonnes at 0.91 percent lithium. Metallurgical testing on the site also verifies a high-grade lithium concentrate of six percent lithium hydroxide that can be extracted using industry-standard methods.

Foremost recently completed drilling ten new lithium targets in April 2022 and are awaiting assay results. Airborne geophysics ongoing, with interpretation scheduled for June 2022.

Project Highlights:

  • Ideal Environment: In addition to Snow Lake’s mining-friendly history and Manitoba’s affinity for mining investments according to the Fraser Institute, the area also has excellent infrastructure, such as mines, rails, power and a skilled workforce.
  • Comprehensive Exploration: Prospecting efforts combined with soil geochemical surveys and five diamond drill programs have added up to over C$5.5 million in exploration expenditures and the discovery of 12 new pegmatite dykes.
  • MI Technology: Where geophysical signature detection has failed, MMI soil geochemical analysis has pinpointed pegmatite dykes, specifically a 36.5 metre wide D8.
  • Battery-grade Lithium Hydroxide: Permitted 500KG metallurgical bulk sample to be sent SGS to generate 6% Li2O spodumene concentrate by September of 2022. XPS Labs will then convert the concentrate into battery-grade lithium hydroxide thereby making it viable to market lithium to strategic partners prior to development.
Foremost Lithium Drill Result

Recent Drill results Show Dyke 8 with exciting prospects from March 2022 Drill Program:

  • Dyke 8 (D8) has been intersected by eight holes for a total of 982.5
  • To date Dyke 8 has drill indicated dimensions of 120 m in length, 5-15 m in width and has been drilled to a depth of 157 m.
  • Dyke 3 (D3) has been intercepted by three holes.
  • D3 remains open in all directions, with unlimited potential indicated by the drill results to date.
  • Critical Question that needs to be answered – does D3 connect to D8 to the South?

Grass River Lithium Project

Foremost Lithium Grass River Lithium Project

The Grass River Claims (GRC) spans 27 total individual claims by Foremost Lithium in the Snow Lake Manitoba mining district. The region was originally a site of mineral exploration for base metal massive sulphides, gold, uranium, and lithium in the 1950s. Today, Foremost Lithium aims to bring modern geophysical and geochemical technologies as well as strong working-capital to the exploration of the GRC. The intention will be to take advantage of these lithium assets and respond to market opportunities promptly to generate shareholder value.

Project Highlights:

  • Drilling Potential: Various pegmatites are already visible in the region, and seven pegmatite dykes bearing spodumene have been indicated by drilling.
  • Broad Investment: Foremost Lithium has made itself the 2nd largest lithium exploration firm in the Snow Lake Manitoba region, having raised its footprint from 14,873 acres to 26,276 acres.
  • Historical Interest: The Manitoba Mining Recorder was an assessment of the region dating back 60 years. While cancelled, that project did serve as the basis for determining the locations of pegmatites on the GRC.
  • Combining Old and New: Foremost Lithium will drill the targets that historic and modern exploration data show to be high-tonnage lithium deposits.
  • Multi-Step Process: Foremost Lithium began exploration in the early spring of 2022, prospecting the outcrop areas for pegmatite, performing a drone-assisted magnetic survey, and using mobile metal ions technology to find new drill targets.
  • Favourable Market Conditions: Despite lingering supply deficits, the worldwide demand for lithium is skyrocketing, reaching 641,000 tonnes of lithium carbonate equivalent in 2022 despite a supply of only 636,000.

Jean Lake Lithium-Gold Project

\u200bJean Lake Lithium-Gold Project

Foremost Lithium staked its claims in lithium and gold in the Jean Lake property, consisting of five claims spanning 2,500 acres. Without any modern exploration since 1942, the property boasts an unparalleled amount of drill potential for high-grade lithium, especially along the beryl pegmatite lithium trend.

Jean-Lake returned high-grade lithium oxide percentage assays from recent exploration, including results of 3.89 percent to 5.17 lithium oxide. Foremost recently completed an airborne geophysics survey which identified 10 new, high-value drill targets for an immediate drill program.

Project Highlights:

  • Mining-Friendly Location: The town of Snow Lake is accepting of mining operations, having been used as an exploration opportunity for base and precious metal production. The surrounding area is also well-known for gold-rich deposits and lithium resource developments.
  • Pre-Existing Infrastructure: Foremost Lithium will have year-round access to property-wide power, an airstrip, a highway, and a rail system all within close proximity.
  • Surveying: In response to the discovery of beryl lithium pegmatite in mid-2021, the Manitoba Mineral Development Fund recently granted C$300,000 for UAV-assisted magnetic and LIDAR surveys. The results of this survey were released on March 1, 2022
  • Tremendous Survey Results: Jean Lake results are tremendous with regards to the trends of magnetic lows. They correspond with the locations of the beryl pegmatites on Jean Lake and are on trend with the Sherritt Gordon and Grass River pegmatites on Snow Lake Lithium’s ground (NASDAQ:LITM).
  • High-Quality Drill Targets: Several high-quality drill targets are apparent, with two domains identified by the Jean Lake survey. The magnetic lows in the northern sector of the property correspond to pegmatites and potential pegmatites and the southern/southwest sector which documents the magnetic highs that correspond to our gold assays and to the magnetic anomalies being drilled by 1911 Gold on their ground to the west of Foremost.
  • Thompson Brothers Lithium Trend: This area has been estimated to house 9,082,600 tonnes of lithium-bearing ore with Li2O concentrates ranging from 1.00 percent to 0.98 percent. It also contains the Snow Lake Resources Sherritt Gordon and Grass River pegmatites. Jean Lake sits directly to the south of Snow Lake Lithium’s claims and there is a prospective “Lithium Lane” which connects the known pegmatite dykes and interpreted lineaments on both properties.
  • Additional Resources: In addition to lithium, gold mineralization has been found here too with assay results of up to 20.9 g/t gold. There’s also the economically viable beryllium in the region, which can be used in gears and cogs for the aviation and satellite communication industries.
  • Future Potential: Snow Lake Resources Ltd. claims eight to 10 years of potential production totalling 160,000 tonnes per annum of six percent lithium concentrate.

Hidden Lake Lithium Project

Foremost Lithium Hidden Lake Lithium Project

45 kilometres northeast of Yellowknife, Northwest Territories, the Hidden Lake Lithium Project spans four claims spread across 4,670 acres and is in an ideal location to take advantage of the increased demand for lithium by the renewable energy sector. In fact, the Yellowknife Pegmatite District is often considered the largest lithium resource in Canada, boasting at least 55,000,000 US tons at 1.41 percent lithium hydroxide.

Sampled extensively, pegmatite dykes are between 275 metres and 790 metres in length. Its average lithium concentration is 1.03 percent, with grades of up to 3.3 percent lithium. Foremost Lithium completed an inaugural drilling campaign of ten holes, covering 1,079 metres. All holes intersected significant lithium mineralization Test work achieved extraction of 97 percent using industry standard lithium techniques

Foremost Lithium Property Detail Map

Project Highlights:

  • Lithium Rich: Prospects show at least 10 spodumene pegmatite dykes bearing lithium. They range between 275 metres and 790 metres in length with a lithium concentration of 1.03 percent and grades up to 3.3 percent.
  • Efficient Extraction: Using standard industry lithium techniques, test runs have managed to extract 97 percent of the element so far.
  • Accessible: In addition to the Ingraham Trail Highway, the site can be accessed by charter helicopter or float plane.

Winston Gold and Silver Project

Foremost Lithium Winston Gold and Silver Project

While not necessarily in the lithium market, the Winston Gold and Silver Project exemplifies Foremost Lithium’s flexibility and diversification when it comes to fulfilling shareholder value. Initial sampling shows high-grade findings like 41.5 g/t gold and 4610 g/t silver, which were later expanded upon.

Project Highlights:

  • Proven Potential: Historic drilling from the 1980s has shown that high-grade ore shoots are possible, making this region a low-risk opportunity.
  • Expanding Claims: As Foremost Lithium boosted its claims from 415 acres to 2,980 acres in the region, sampling rates rose significantly with grades of up to 66.5 g/t gold and 4,619 g/t silver.
  • Additional Mines: The Little Granite Mine and Ivanhoe-Emporia Mines both have shown potential in gold and silver in the past and are within reach of this project.

Management Team

John Gravelle - President, CEO and Director

John Gravelle is a global mining industry leader with over 20 years' experience in advising both domestic and foreign multinational mining clients. Mr. Gravelle has board experience with several TSX main board and venture public mining companies and has current seats on several public listed mining company's boards. He is a retired partner at PricewaterhouseCoopers, an accomplished executive, adept at managing multiple stakeholders, geographies, and lines of business and is uniquely positioned with deep industry knowledge, experience and global network to drive growth while balancing risk for mining companies. He has written numerous articles and presented various mining industry issues around the world.

Scott Taylor - Director

Scott Taylor has over 20 years’ direct experience in finance, energy, mining, defence, and civil engineering industries. Mr. Taylor has prior technical and financial experience in exploration, development, and pilot scale production on two private mines in Mexico and the Russian Federation. His experience also includes five years working for an engineering company in the mining and energy space which included resource development and drill programs on mines and his skill set enables him to work hands-on in the field on drill programs which brought old mines into productions using modern geo-physical technique

Pierre-Yves Tenn - Chief Global Officer and Board Member

Pierre holds an MA in International Relations and Diplomacy 20 years of proven experience in the development of international strategies, business, trade, sales, and commerce, both domestically and abroad. His experience includes the promotion of Canadian mining and exploration projects with a focus on accessing Asian investment funds for the development, exploration, and operations of international mining projects. Pierre-Yves was based in China for over a decade, working with Canadian entities to create joint ventures with Chinese private and state-owned enterprises for the advancement of natural resource projects as well as soliciting support from Canadian provincial and federal representatives for the securing off-take agreements and partnership initiatives.

Andrew Lyons - CFO and Board Member

Andrew has over 30 years' experience in program and project management in the public markets, financial and technology sectors. He holds a BSc(CS) and BBA from the University of New Brunswick, an MBA from the University of Ottawa. Andrew is well versed in corporate governance of organizations in the private, public, and non-profit, and has worked with private, public companies and governments, involving scope, budgeting, capital funding, and project management. Andrew brings proven leadership working at C suite senior management level with corporate experience in the mining sector, utilizing his over 35 years experience as an independent consultant.

Mark Fedikow P.Geo - Vice President of Exploration

Dr. Fedikow has over 40 years of experience as an exploration geochemist and a mineral deposits geologist working in both private and public sectors. He is a Fellow at the Association of Applied Geochemists, where he’s previously worked as a councillor. Dr. Fedikow pioneered the application of regional multimedia geochemical and mineralogical surveys in support of base and precious metal and diamond exploration in Manitoba. During his 45-year career he has worked for a variety of junior and major mining exploration and mining companies and for the Manitoba Geological Survey as chief geologist of the mineral deposits Section. In 2001 he received the Provincial Geologists gold medal, a Canadian national award for excellence in the geosciences.He is currently registered as P.Eng. and P.Geo. with Engineers Geoscientists Manitoba (EGM), P.Geo. with the Northwest Territories and Nunavut Association of Professional Engineers and Geoscientists (NAPEG) and as a Certified Professional Geologist (CPG) with the American Institute of Professional Geologists (AIPG), Westminster, Colorado, U.S.A.

Lindsay Bottomer - P. Geo, Geoscientific Advisor

Lindsay Bottomer is a Vancouver-based geological consultant with over 45 years of experience in international mining exploration and development, most recently focused on epithermal gold and porphyry copper-gold exploration in the American Cordillera and Central Asia. He recently retired from Entree Gold after 10 years as VP Acquisitions/Corporate Development, with major involvement in exploration of the Oyu Tolgoi North and South concessions in Mongolia, leading to discovery of the Hugo North Extension Cu-Au and Heruga Cu-Au-Mo porphyry deposits. He and company founder Keith Anderson conducted the initial site visit to the Winston Gold/Silver project in New Mexico, USA and recognized the potential for high grade silver-gold mineralization in the historic mining camp which had been dormant since the early 1980s.

Victor Cantore - Advisor

Victor Cantore is currently the president, CEO, and director of Amex Exploration. Cantore is a seasoned capital markets professional specializing in the resource and hi-tech sectors. He has more than 20 years of advisory and leadership experience having begun his career in 1992 as an investment advisor and then moving into management roles at both public and private companies. During his career he has organized and structured numerous equity and debt financings, mergers and

Michael Feinstein, PhD - Qualified Person

Dr. Michael Feinstein is an Arizona-based economic geologist and consultant with more than 15 years of experience leading mineral exploration projects for clients in the US, Mexico, and Canada. As founder and primary of MineOro Explorations, he has managed the exploration and evaluation of more than 40 properties. He has significant experience with tertiary volcanics and low-sulphidation epithermal vein systems and has worked in applied field geology, ore deposit genetics, and 3D GIS.

*Disclaimer: This profile is sponsored by Foremost Lithium ( FAT:CNX ). This profile provides information which was sourced by the Investing News Network (INN) and approved by Foremost Lithium in order to help investors learn more about the company. Foremost Lithium is a client of INN. The company's campaign fees pay for INN to create and update this profile.

INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.

The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Foremost Lithium and seek advice from a qualified investment advisor.

to the top