EXCLUSIVE: Foremost Lithium Reports Widest Intercept Of Spodumene-Bearing Pegmatite At Zoro Lithium Project
Foremost Lithium Resource & Technology Ltd (NASDAQ:FMST), a North American hard-rock lithium exploration company, provides a drilling progress update at the Zoro Lithium Property in the Snow Lake region of Manitoba.
Foremost reports the widest drill intercept with an intersection of spodumene-bearing pegmatite at Dyke 1, spanning a cumulative length of 32.53 meters.
Dyke 1 hosts Foremost Lithium’s maiden inferred resource of 1,074,567 tons at a grade of 0.91% Li2O, with a cut-off of 0.3%.
Drill holes FL-24-009 and FL24-010 intersected 32.53 meters and 14.5 meters of spodumene-bearing pegmatite, respectively. Analytical results are still pending.
Also Read: EXCLUSIVE: Foremost Lithium Bids for $10M to Boost Manitoba’s Lithium Transport Corridor.
“The presence of spodumene and the length of pegmatite encountered in multiple holes, highlighted by over 32 meters of spodumene-bearing pegmatite hit in one hole, are very positive in terms of the potential for our maiden resource to now grow in significant scale,” states Jason Barnard, President and CEO of Foremost Lithium.
“As drilling progresses, the focus will continue to build resource to the south of Dyke 1, a promising new unchartered area, which has confirmed spodumene pegmatite as drilling progresses,” Barnard added.
In February 2024, drilling activities began on the Zoro Property, targeting Dyke 8 and adjacent areas with holes FL2024-001 through FL2024-006.
Initial drilling confirmed the presence of spodumene in some drill cores. Subsequently, the extracted cores were packaged and sent to SGS in Burnaby, B.C., for further assay analysis.
Presently, the focus of drilling has shifted towards Dyke 1 in the southeast section of the property. Dahrouge Geological Consulting (DGC) has identified the southern extension of Dyke 1 as a priority target due to its relatively unexplored nature with limited historical drilling.
The company aims to explore this section of Dyke 1 both vertically and horizontally, including testing new unexplored zones. The objective is to understand mineralization better, laying the groundwork for an updated Regulation SK-1300/ and Ni 43-101 resource estimate.
Ten drill holes covering approximately 2,100 meters have been completed on the property.
Jody Dahrouge of DGC comments, “Several of the drilled thicknesses exceed expectations…”
Price Action: FMST shares closed at $2.39 on Tuesday.