Foremost Lithium Resource & Technology owns the five “Lithium Lane” projects in the Snow Lake, Manitoba as well as Lac Simard South Project in Quebec, totalling 54,758 acres/ 22,160 hectares. Foremost is a hard-rock lithium exploration company focused on playing a critical role in the production of ethically produced battery-grade lithium hydroxide.
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.
LITHIUM LANE PROPERTIES
Foremost’s five Lithium Lanes cover 43,276-acre/ (17,513 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 Gold/ and Peg North Lithium Property are bound by the Crowduck Bay Fault well as 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 its neighbour’s (11.0M tons at 1.00% Li2O) which 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 de-risk drill targets and ensure highest probability of a successful drill program. Valuable tools and steps include:
UAV-Borne Magnetic Surveys
UAV-flown high resolution magnetic data lends itself very well to finding new prospective drill targets with precision using high-resolution UAV more commonly known as a drone. The UAV system's resolution has provided excellent litho-structural detail over all Foremost's Lithium Lane Properties and has generated detailed 3D models of the magnetic sources on the properties. Magnetic surveys can provide valuable exploration information such as depth to source, dip of the body as well as the overall shape and morphology of the lithological unit. The resolution of the survey allows targeting of bedrock structures which may host lithium pegmatite deposits, which when coupled with 3D products from inversion of magnetic survey data provides an excellent source of information for Foremost Lithium to define drill-targets on their property based on their magnetic signatures including both magnetic and non-magnetic targets.
Foremost flew a total of 7,472.7-line km over the entire 43,000+ acres/17,500 ha land package. The drone magnetometer surveys were flown with a flightline azimuth of 070º and flight-line spacing of 25m. Tie lines were established at 250m spacing.
A review of the magnetic survey data on each of the four Lithium Lane properties has defined numerous discontinuities in the magnetic fabric as documented by the UAV-assisted survey. These discontinuities are interpreted to reflect geological structures with the potential to provide pathways for lithium-bearing pegmatite and other mineralization. The orientations of the discontinuities are consistent with those of the B1 pegmatite on the Company's Jean Lake property and the Thompson Brothers deposit hosting 11.1 million metric tonnes of indicated and inferred resources at 1% Li20 (lithium oxide).
Similarly, high resolution LiDAR models of ground elevation or relief on the Lithium Lane properties have also defined many areas with comparable orientations as known spodumene-bearing pegmatite. Both magnetic discontinuities and LiDAR images with appropriate orientations are planned for ground truthing and follow-up pegmatite exploration for 2023.
Further steps Foremost follows in it's scientific exploration approach including drone surveys are:
- Prospecting of outcrop areas on the claim block focusing on known pegmatites as well as additional lithium-bearing pegmatites.
- 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
EXPLORATION TO DISCOVERY – Unlocking shareholder value
LITHIUM LANE PROPERTIES
78 claims totaling over 43,000 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.