Foremost Lithium Identifies Multiple New High Priority Pegmatite Targets on Its 100% Owned Jean Lake Lithium Project in Snow Lake, Manitoba

Foremost Lithium Identifies Multiple New High Priority Pegmatite Targets on Its 100% Owned Jean Lake Lithium Project in Snow Lake, Manitoba

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost" or the "Company") (www.foremostlithium.com), is pleased to announce final interpreted results from the Unmanned Aerial Vehicle, ("UAV") magnetic survey over the Jean Lake property first disclosed on March 1st, 2022 (see press release of same date). Jean Lake is Foremost's 100% owned 1,002-hectare (2,476-acre) property situated in Snow Lake, Manitoba, Canada. The North-East sector of Foremost' s Jean Lake property (claim JOL 9419) directly abuts with Snow Lake Lithium's Sherritt Gordon ("SG") and Grass River ("GRP") pegmatites exposed on Snow Lake Lithium's ADD3203 claim.

Final images from EarthEx Geophysical Solutions Inc. ("EarthEx") magnetic data identified fourteen (14) high priority structural targets for further exploration work in the northern portion of the Jean Lake property. Fourteen sets of independently colored lines are final interpretations of the magnetic low lineaments from a Centre for Exploration Targeting ("CET") analysis and overlay the magnetic "low" picks layer. The coincidence of the magnetic lows with the Beryl Pegmatites and their extension along a trend recognized for its association with Snow Lake Lithium's high-grade SG and GRP spodumene pegmatites is highly encouraging. Of particular importance, Target 11 (BLUE) and Target 10 (GREEN) directly match the previously identified Beryl Pegmatite dykes (B-1 and B-2) which assayed between 3.89% and 5.17% Li2O, respectively. The locations of the B-1 and B-2 Beryl Pegmatite dykes are annotated with the magnetic data in Figure 1.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/120836_foremostfigure1_550.jpg

Figure 1 - Magnetic image covering the Jean Lake property. The gap in the image is due to the location of Hydroelectric power lines crossing the property. Location B-1 assayed 3.89% Li2O connects with target 11; and Location B2 (red circle) assayed 5.17% Li2O and connects with target 10.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4689/120836_foremostfigure1.jpg

Figure 2 builds upon Figure 1 now showing Snow Lake Lithium's SG and GRP spodumene pegmatites as per their disclosed interim drilling results from March 10th, 2022[1]. There are multiple features which appear to connect the known pegmatite dykes and interpreted lineaments on both properties.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4689/120836_foremostfigure2_550.jpg

Figure 2 - Foremost Lithium's Jean Lake magnetic survey results with overlays of Snow Lake Lithium's SG and GRC pegmatites.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4689/120836_foremostfigure2.jpg

Lindsay Bottomer, Co-founder, and Geoscience Advisor of Foremost states: "The Jean Lake results are very encouraging with regards to the clarity and abundance of the trends of magnetic lows identified from the EarthEx magnetic data. Targets 10 and 11 correspond with the locations of the B-1 and B-2 Beryl Pegmatites on Jean Lake and Targets 5, 6, and 7 are on trend with the SG and GRP on Snow Lake Lithium's ground. On March 10th, 2022, Snow Lake Lithium announced results from exploration hole GRP-001, an exploration hole previously undrilled, returned 2 pegmatite intercepts grading 30% spodumene from 34.8 m to 40.48 m, and 41.86 m to 44.22 m for a total intersection of 8.04 m[1]. It is noteworthy that Snow Lake Lithium's GRP structure appears to directly connect to one of the imaged magnetic low features present on Jean Lake. We have prioritized the top 10 drill targets for an immediate drill program based upon all available data."

Scott Taylor, President and CEO of Foremost Lithium states: "The final magnetic data interpretation, together with the 3.89% Li2O assayed on the B-1 Beryl pegmatite outcrop and the 5.17% Li2O on the B-2 Beryl pegmatite outcrop, and the March 10th disclosure of Snow Lake Lithium's interim drilling results hitting intercepts of 30% spodumene on GRP-001 have imparted a sense of urgency and enthusiasm to extend and expedite our exploration work and drilling campaign throughout the spring and summer on Jean Lake."

Scott Taylor continues: "In recent news, Canada's mining sector is set to receive an unprecedented tranche of Federal incentives to accelerate and scale up production of raw materials used in EV batteries[2]. One example is the new Critical Mineral Exploration Tax Credit (CMETC) which specifically incentivizes capital deployed to support hard rock Canadian lithium exploration and development activities. Stellantis and LG Energy Solution recently announced a new $4.9 Billion-dollar Ontario based Gigafactory scheduled to come online in 2024. American automakers General Motors & Ford Motor Co. have both announced plans to make electric vehicles at Ontario based factories. These long-term macroeconomic catalysts all support the Company's strategic focus and enhance the value of our Snow Lake lithium assets which are situated nearby these massive long-term Canadian EV investments."

Technical information contained in the press release has been approved by the Company's Co-Founder and Geoscience Advisor, Lindsay Bottomer, P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects.

About EarthEx Geophysical Solutions Inc.
EarthEx Geophysical Solutions Inc is a Manitoba company, founded in 2014 in Selkirk, Manitoba. The President and Chief Geophysicist, Daniel Card, P. Geo, RPGeo, holds a BSc. Hons degree from the University of Manitoba (2007). EarthEx is highly specialized in geophysical prospecting for hard rock minerals and works with cutting edge technologies and data analysis methodology. Since its inception in 2014, EarthEx has quickly become a household name in the Canadian mineral exploration industry, with rapid and continued growth expected in the coming years.

About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is an energy technology company focused and committed to become one of the first North American Companies to produce high quality battery-grade lithium hydroxide. Lithium hydroxide is a strategic battery mineral mainly consumed in the production of cathode materials for lithium-ion batteries. Lithium based batteries power the daily use of consumer electronics, enable electrification of the transportation sector, and provide stationary grid storage, critical to developing a clean-energy economy. The Company is prudently and systematically exploring and building tonnage on its four lithium properties, Jean Lake, Grass River, and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the Northwest Territories. Foremost Lithium also holds assets in precious commodities with its Winston Gold/Silver Project in New Mexico, USA.

For further information please contact:

Scott Taylor
President and CEO
Foremost Lithium Resource &Technology Ltd.
Email: scott.taylor@foremostlithium.com
Phone: +1 (604) 330-8067
Twitter: @lithiumlane

Follow us and contact us on social media:
Twitter: @foremostlithium
Linkedin: https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
Facebook: https://www.facebook.com/ForemostLithium

Forward-Looking Statements

All statements in this press release, other than statements of historical fact, are "forward-looking information" with respect to Foremost within the meaning of applicable securities laws. Foremost provides forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to market conditions, exploration findings, results, and recommendations, as well as those risks and uncertainties identified and reported in Foremost' s public filings under Foremost' s SEDAR profile at www.sedar.com. Although Foremost has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Foremost disclaims any intention or obligation to update or revise any forward-looking information, whether as lithium as result of new information, future events or otherwise unless required by law.


[1] SNOW LAKE ANNOUNCES SIGNIFICANT PROGRESS UPDATE FOR WINTER DRILLING CAMPAIGN, March 10, 2022. Snow Lake Announces Significant Progress Update for Winter Drilling Campaign:: Snow Lake Resources Ltd. (LITM) (snowlakelithium.com)

[2]https://budget.gc.ca/2022/report-rapport/chap2-en.html

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/120836

News Provided by Newsfile via QuoteMedia

FAT:CNX
The Conversation (0)
Foremost Lithium Identifies Future Additional Drill Targets and Strategically Extends Claims on Its Manitoba Lithium Projects

Foremost Lithium Identifies Future Additional Drill Targets and Strategically Extends Claims on Its Manitoba Lithium Projects

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce it has identified numerous future exploration targets from a preliminary analysis of UAV-assisted magnetic and LiDAR surveys on its Lithium Lane properties located near Snow Lake, in the mining friendly province of Manitoba. The surveys were flown by EarthEx Geophysical Solutions Inc. (Selkirk, Manitoba) last year and totalled 7,472.7-line km at a flight line azimuth of 070° and a 25 meter flight line spacing.

EarthEx produced 3D magnetic inversion models and advanced 2D data imagery using the high-resolution UAV magnetic data collected from the Lithium Lane properties and these images along with LiDAR imagery provide the basis for an enhanced assessment of lithium pegmatite ground exploration follow-up.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Foremost Lithium to Acquire Lac Simard South Property in Quebec Hosting 24 Identified Pegmatites

Foremost Lithium to Acquire Lac Simard South Property in Quebec Hosting 24 Identified Pegmatites

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce it has entered into an arm's length property acquisition agreement (the "Property Agreement") to acquire 100% interest in the Lac Simard South property (the "Property") in the Province of Quebec, Canada, consisting of 120 mining claims covering approximately 20,349 acres8,235 hectares (see "Investment Summary" section for payment details). The Property has 24 pegmatites that were identified from satellite imagery. These pegmatites are located approximately 90km southwest from The NAL Lithium Processing Plant (A PiedmontSayona Joint Venture), which just announced it produced its first batch of spodumene concentrate (SC6)1, and 80km southwest of Val-D'or, a logistics hub for mining services. This acquisition increases Foremost's total lithium land holding to an aggregate of 63,380 acres25,649 hectares.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Foremost Lithium Reports 81.6% Recovery Rate in Dense Media Separation Program at Dyke 1, Zoro Lithium Project

Foremost Lithium Reports 81.6% Recovery Rate in Dense Media Separation Program at Dyke 1, Zoro Lithium Project

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost Lithium", "Foremost" or the "Company") is pleased to announce receipt of the phase two of its metallurgical report from XPS Expert Process Solutions, A Glencore Company (XPS) for Dyke 1 on its Zoro Lithium Property located in the mining friendly province of Manitoba. Final test results confirm The Dense Media Separation ("DMS") and flotation of DMS Middlings together, achieved a global lithium recovery of 81.6% at a spodumene concentrate grade of 5.88% Li2O. Pyrometallurgical and hydrometallurgical testing on the DMS spodumene concentrate have shown that the final product is amenable to a flowsheet, capable of producing both battery grade lithium products, Lithium Carbonate (Li2CO3) and Lithium Hydroxide (LiOH).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Foremost Lithium Resource & Technology Announces Participation in Red Cloud's 2023 Pre-PDAC Mining Showcase

Foremost Lithium Resource & Technology Announces Participation in Red Cloud's 2023 Pre-PDAC Mining Showcase

Foremost Lithium Resource & Technology (CSE: FAT) is pleased to announce that the Company will be presenting at Red Cloud's Pre-PDAC 2023 Mining Showcase. We invite our shareholders and all interested parties to join us.

The annual conference will take place in-person at the Sheraton Centre Toronto Hotel from March 2-3, 2023.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Foremost Lithium Announces Termination of the PSU Plan

Foremost Lithium Announces Termination of the PSU Plan

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8) ("Foremost Lithium", "Foremost" or the "Company") As previously disclosed, on January 17, 2022 the Company adopted a performance and restricted share unit plan, which was subsequently amended on September 7, 2022, (the "PSU Plan"). The terms of the PSU Plan required that the Plan be submitted to shareholders for ratification and approval within three years of its implementation and thereafter within three years after the anniversary of the immediately preceding shareholder approval. At the Company's ASGM held on December 02, 2022, (the "Meeting") the shareholders voted against ratification of the PSU Plan, with 98.2% shares voted at the Meeting cast against the motion to approve.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
AM Resources Completes Compilation Work with the Discovery of 94 New Pegmatites for a Total of 281 Pegmatites on its 1,500 km² Land Package in Austria

AM Resources Completes Compilation Work with the Discovery of 94 New Pegmatites for a Total of 281 Pegmatites on its 1,500 km² Land Package in Austria

AM Resources Corporation(“AM Resources” or the “Company”) (TSXV: AMR) (Frankfurt: 76A), a dynamic junior mining company focused on the exploration and development of high-potential pegmatite lithium deposits, is pleased to announce that it has completed the compilation of government data on its newly acquired 1,500 km2 land package (see press release dated March 21, 2024) with the discovery of 94 new pegmatites. AM Resources has now identified a total of 281 pegmatites, consolidating its strategic position in one of Austria’s most prospective lithium areas.

  • Recently announced 1,500 km2 land package gives AM Resources control over a large area of the Austrian Pegmatite Belt.
  • Compilation of government data resulted in the discovery of 94 additional pegmatites across two groups, with sizes ranging from 40 metres to 2,100 metres.
  • Many pegmatites are strategically located within mica schists, indicating favorable conditions for lithium-bearing minerals.
  • Latest discoveries continue to reinforce AM Resources’ position in the Austrian Pegmatite Belt, located within proximity to European battery manufacturers.

AM Resources’ 1,500 km2 land package

Keep reading...Show less
Digger at mine site.

Piedmont Secures Mining Permit for Carolina Lithium Project

Piedmont Lithium (NASDAQ:PLL,ASX:PLL), one of North America’s leading lithium suppliers, announced on Monday (April 15) that the North Carolina Department of Environmental Quality (NCDEQ) has given its stamp of approval for the company's US$1.2 billion mining and processing plant project in Gaston County.

“This is an exciting day for all of us at Piedmont Lithium. I would like to thank the leadership and staff at NCDEQ and (the Division of Energy, Mineral and Land Resources) for their diligence in the process, as well as the members of our team who worked rigorously for more than two and a half years to ensure that every aspect of the Project met the state’s high standards for approval,” Keith Phillips, the company's president and CEO, said in a press release.

The permit allows for the construction, operation and reclamation of the proposed project, with the Belmont-based company planning to develop Carolina Lithium as a key part of the US supply chain for electric vehicles (EVs).

Keep reading...Show less

ALBEMARLE DONATES $1 MILLION TO CLEVELAND COMMUNITY COLLEGE TO FURTHER SUPPORT WORKFORCE DEVELOPMENT PROGRAMS

Donation to support training and apprenticeship programs for growing regional industries

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced a $1 million donation to Cleveland Community College (CCC) for the purchase of equipment, supplies and facility improvements to benefit workforce training programs. The Shelby, NC -based college's programs are designed to strengthen the region's pipeline of skilled and diverse workers to support the growth of businesses and projects, such as the redevelopment of the Kings Mountain Mine.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
Green lithium-ion battery.

Lithium Market Update: Q1 2024 in Review

Lithium prices remained subdued in the first quarter of 2024, well below highs set in late 2022 and 2023. Various factors, including oversupply and weak electric vehicle (EV) demand, kept prices muted over the 90 day period.

Even as a market glut weighs on prices, Fastmarkets is forecasting that lithium supply will increase by 30 percent by the end of the year. The firm notes in a January report that some new supply is being ramped up, while some high-cost output is being cut — it remains to be seen how the current price environment will impact these plans.

"Market participants expect downstream lithium demand to remain relatively weak and with no imminent concerns about supply shortages, we forecast a tentatively balanced market in 2024," Fastmarkets explains.

Keep reading...Show less
Cell phone with lithium battery symbol charged at 70 percent.

Top 7 Lithium Stocks of 2024

The lithium market exhibited greater stability in Q1 after fluctuating in 2023. Lithium carbonate prices, which began the quarter at US$13,377.44 per metric ton, concluded around US$14,874.31, up 11 percent.

Market oversupply prompted some lithium producers to trim their 2024 output targets in hopes that excess material will be absorbed. Spending for project expansions and new developments was also put on the back burner.

“We believe we are approaching the bottom of the market, considering the industry is moving fairly deep into the cost curve. This is likely to support lithium prices as producers consider further production cuts to balance the market and stem further losses," states a January report from price and market reporting agency Fastmarkets.

Keep reading...Show less
Neon battery and lightning shapes.

Top 4 ASX Lithium Stocks of 2024

In contrast to the volatility of 2023, Q1 2024 saw a more stable lithium market. Prices for lithium carbonate started the period at US$13,377.44 per tonne and finished at US$14,874.31, marking an 11 percent increase.

Strong electric vehicle sales in January helped support prices for the important battery metal, which continued to rise through February and March, reaching a quarterly high of US$16,109. This rally was fueled by reports from China indicating a sustained growth trend in lithium demand for batteries and energy storage technology.

Here the Investing News Network looks at the top four ASX-listed lithium companies by year-to-date gains. The list below was generated using TradingView’s stock screener on April 10, 2024, and includes companies that had market caps above AU$10 million at that time. Read on to learn more about their activities over the past year.

Keep reading...Show less

Latest Press Releases

Related News

×