First Phosphate Corp Reports Promising Drill Results from Quebec Project

First Phosphate Corp has announced positive drill results from its Bégin-Lamarche project in Quebec, marking a significant advancement in phosphate mining development. The company successfully completed a substantial 25,929-meter drill program ahead of schedule in April, with all samples now dispatched to the laboratory for analysis. This extensive drilling campaign has established the foundation for two critical upcoming studies: a 43-101 resource estimate and a Preliminary Economic Assessment, both scheduled for completion by the end of fiscal Q4 2024.

The drill results demonstrate promising findings across the project area, with significant phosphate layers intersected in all but two holes continuously across the 3 km magnetic trend at Bégin-Lamarche. In the Phosphate Mountain Zone, 23 drill holes were completed, with data from 20 of these holes showing grades exceeding 10% P2O5 and widths ranging from 7 meters to an impressive 99 meters. The Phosphate Mountain Zone, drilled for a total length of 250 meters, is beginning to merge with the Northern Zone, revealing a substantial 500-meter thick phosphate mineralized envelope containing up to five individual layers ranging from 60 to 100 meters in thickness.

These geological findings carry substantial implications for global agriculture and food security. Phosphate serves as a critical component in fertilizers essential for worldwide food production. As global population continues to expand and arable land becomes increasingly limited, the demand for high-quality phosphate resources is projected to increase significantly. First Phosphate Corp's discoveries at the Bégin-Lamarche project could play a vital role in addressing this escalating demand while supporting sustainable agricultural practices.

The project's location in Quebec provides strategic advantages through mining-friendly policies and established infrastructure. Proximity to North American markets offers potential competitive benefits in transportation efficiency and supply chain reliability. The combined strike length of the Phosphate Mountain Zone and Northern Zone spans approximately 600 meters, indicating a potentially extensive phosphate deposit that begins at surface level and extends to depths of 300 meters.

The upcoming resource estimate and economic assessment will be crucial for determining the project's full potential and commercial viability. These studies will provide essential data regarding the deposit's size, quality, and the economic factors associated with extraction operations. For industry stakeholders and agricultural sectors, these developments represent significant opportunities in phosphate resource development as global attention increasingly focuses on food security and sustainable agriculture practices.