Foremost Lithium Resource & Technology owns five hard rock lithium projects located in the Snow Lake, Manitoba area located over 43,000 acres. Our company is focused on playing a critical role in the production of ethically produced battery-grade lithium hydroxide. Each of the company’s prospective lithium projects are in the exploration phase and its objectives of its business activities are to initially target extraction of lithium oxide (Li2O) from the project sites and to subsequently play a role in the production of high-quality lithium hydroxide (LiOH).
Its five Lithium Lane Projects are centrally located in the heart of North America, and are strategically located to supply the growing demand for battery metals. Foremost’s projects are located at the tip of the NAFTA “superhighway” with easy access to North American battery and EV manufacturing sites.
This legislation will include Canada in a new tax incentive for electric vehicles purchased in the US. This is also good news for Canadians, for our green economy, and for our growing EV battery minerals and manufacturing sector.
August 17, 2022
The Inflation Reduction Act has intensified the need for automakers to secure their future domestic lithium supply. This law puts Canada in a privileged position and will deepen investment with lithium exploration companies as EV manufacturers and other suppliers scramble to source and secure their critical minerals with a Free Trade Partner. Foremost Lithium future objectives will include seeking out strategic partnerships with EV manufacturers and lithium-battery manufactures to fuel the ever-growing global electric vehicle and battery storage market.
Map of Lithium Lane Properties
LITHIUM LANE PROPERTIES
Foremost’s five Lithium Lanes cover 43,031 acres (17,414 ha) in the mine-friendly district of Snow Lake, Manitoba. Manitoba, one of the world’s friendliest mining jurisdictions is focused on increasing investment in mineral exploration & development. The Lithium Lane Properties, Peg North, Jol, Grass River, Jean Lake and Zoro, are all near existing infrastructure including highway, grid power and railway. The Company’s properties have access to abundant renewable power sourced from the provincial grid and more than 98% of electricity in Manitoba is generated using hydroelectricity and wind power.
FAVOURABLE MARKET OUTLOOK
Robust Long-term Demand for Lithium
- EV appetite seems insatiable
- Government policy is accelerating the demand for domestic lithium supply
- Increased pressure on supply continues upward pressure on carbonate, hydroxide, and spodumene prices
North American Sourced Lithium Feedstock
- Located at the tip of the NAFTA “superhighway” with easy access to North American battery and EV manufacturing sites
- Accessible via the Arctic Gateway railway that runs north to the port of Churchill and south connecting via Winnipeg to the U.S. rail network, and highways
Lithium Enriched Pegmatite Clusters
- Jean Lake Lithium property and Peg North are bound by the Crowduck Bay Duck Fault as well are situated along the “Thompson Brothers Lithium Trend (TBL)”. The Crowduck Bay Fault is known to be associated for lithium-enriched pegmatite dyke clusters
- Adjacent with and comparable in scale and grade as Snow Lake Lithium’s project (11.0M tons at 1.00% Li2O) which just signed an MOU with LG Energy Solution
FOREMOST’S EXPLORATION AND DEVELOPMENT APPROACH
The company follows the same scientific methodical approach on all its lithium projects for future exploration and drill programs to derisk drill targets and ensure highest probability of a successful drill program. These steps include:
- First pass prospecting of outcrop areas on the claim block focusing on known pegmatites as well as additional lithium-bearing pegmatites
- EarthEx Drone-Assisted Magnetic Survey. This technology aids the Company by utilizing 3D technology to define the extent and magnetic signature of the spodumene pegmatite dykes and enclosing geologic environment
- Surficial geochemical surveys including Mobile Metal Ions. (MMI Technology) is utilized to help delineate new targets and is integrated with other geoscientific databases.
- Ground truthing – boots on the ground, visual reference
- Determine targets and follow up with drill program
- Further in-fill drilling; discovery of resource
EXPLORATION TO DISCOVERY – Unlocking shareholder value
LITHIUM LANE PROPERTIES
77 claims totaling over 43,090 acres and hosts 40 known pegmatite dykes
Drill targets have been scientifically defined with the via preparatory work programs and de-risked wth final visual reference
Integrated prospecting including ground Geochem, concurrently Mobile Metal lons soil sampling (MMI)
Diamond Drilling will be undertaken from the carefully selected drill targets on all Lithium Lane properties and targets
Drone assisted airborne geophysics (LIDAR & magnetics) to be complete over entire property
Continued growth and shareholder value with every new discovery and proven resource
Foremost Lithium is the second largest lithium exploration company in Snow Lake, Manitoba, with a business model that strives to use best-in-class methods to produce lithium in accordance with Canadian mining and exploration standards while reducing environmental impact wherever possible. The company is at different stages of exploration on its current five Lithium Lane Projects. It continues on going exploration in Snow Lake Manitoba, with confirmed 40 discovered pegmatite dykes to date, and 30 follow-up drill targets thus far.