First Phosphate announces promising drilling results for its Begin-Lamarche project

First Phosphate Corp. reported results from its latest drilling program at the Begin-Lamarche project, in the Saguenay-Lac-St-Jean region, Quebec, where high-grade igneous phosphate intersections were confirmed. Among other things, drilling BL-24-67 revealed a concentration of 11.85% P2O5 over a depth of 84 meters, marking a significant step forward for the company.

In addition to this result, other drilling, such as BL-24-82, revealed even richer sub-intersections, with P2O5 rates reaching 20.51% over 9.75 meters. These results are part of a 25,929 meter drilling program that was completed ahead of schedule on April 29, 2024, accumulating over 16,468 meters of drilling analyzed to date.

In addition to the exploits in the Phosphate Mountain zone, the South zone also exhibited notable results, with drilling BL-24-84 encountering a grade of 8.41% P2O5 over 77.1 meters. The discovery of numerous layers with a high phosphate content confirms the potential of the site.

First Phosphate CEO John Passalacqua expressed satisfaction with these encouraging results and announced preparation for a 43-101 compliant resource estimate, followed by a preliminary economic assessment. The exploration phase shows consistent high phosphate levels over a wide area, promising a potential economic future for the project.