“Without a doubt, lithium’s ‘White Gold’ label is merited” writes Rick Mill from Ahead of the Heard. He continues “Strong demand for lithium-ion batteries for EVs and other applications is expected to put a strain on the global supply of battery raw materials, which will likely to invoke a string of new investments. With the global race to secure minerals in full throttle, there will be calls made to companies holding lithium projects within the most prolific regions of the world.”
Looking to become a global hub for lithium supply, Foremost Lithium recently acquired The Grass River Claims (“GRC”). The GRC is a group of 27 claims located in the historic mining district of Snow Lake Manitoba, 6.5 kilometers east of its Zoro lithium Project. Foremost Lithium increased its footprint by 14,873 acres to a total of 26,276 acres making it the largest lithium exploration company in Snow Lake Manitoba. The Grass River Claims (GRC) hosts multiple pegmatites exposed in outcrop and 7 drill-indicated spodumene-bearing pegmatite dykes.
Foremost Lithium Snow Lake District Claim Map depicting the Jean Lake, Zoro, and the GRC Assets. Foremost now controls an amalgamated 26,276 acres.
History on The Grass River Claims
The bulk of mineral exploration in the Snow Lake area was undertaken in the late 1950’s and was primarily designed to assess the general area for base metal massive sulphide mineralization although there were programs undertaken earlier that were designed to assess the area for gold, uranium, and lithium.
Ground geophysical surveys (electromagnetics and magnetics) were the primary tool coupled with boots on the ground prospecting. Many holes were drilled to assess base metal environments.
Dr. Mark Fedikow, Foremost Lithium’s VP of Exploration and QP, reviewed the regional historical drill and exploration data in the cancelled assessment files of the Manitoba Mining Recorder, going back over 60 years. He documented the location of the multiple pegmatites exposed in outcrops and 7 drill-indicated spodumene-bearing pegmatite dykes on the GRC. Spodumene-bearing pegmatite such as those of the Grass River Claims, the Zoro property, the Jean Lake property and other lithium pegmatites in the general area as those within the Thompson Brothers Lithium Trend are spatially associated with the regionally extensive Crowduck Bay Fault.
The Crowduck Bay Fault is known to be associated for lithium-enriched pegmatite dyke clusters.
Forward Moving Plans
The Company’s plans include moving forward with significant working-capital and utilizing modern geophysical and geochemical technologies to supplement boots-on-the-ground prospecting to further explore the GRC spodumene-bearing pegmatite dykes. Modern exploration on the GRC pegmatites has not been undertaken in more than 60 years.
Foremost Lithium will commence exploration on The Grass River Claims in late Winter/early Spring 2022 as follows:
- First pass prospecting of outcrop areas on the claim block focusing on known pegmatite;
- EarthEx Drone-Assisted Magnetic Survey. This is the identical technology the Company recently applied to the Jean Lake property to define the 3D extent and magnetic signature of the high-grade spodumene-bearing Beryl pegmatite dykes;
- Surficial geochemical surveys including Mobile Metal Ions. MMI Technology is the same soil geochemical technology utilized by Foremost on the Zoro property to delineate new drill targets and discovered high-grade spodumene-bearing Dyke 8
Next steps for The Grass River Claims once the value targets have been defined, is that Foremost Lithium would drill those specific high targets, defined by integrating historic and new exploration datasets, with the goal of significantly increasing the tonnage of the lithium resource.
According to a December report from S&P Global, further demand growth in 2022 will mean a lithium deficit this year as use of the material outstrips production and depletes stockpiles. Supply is forecast to jump to 636,000 tonnes of lithium carbonate equivalent in 2022, up from an estimated 497,000 in 2021 — but demand will jump even higher to 641,000 tonnes, from an estimated 504,000. Lithium carbonate prices in China have now risen 35% on month and are up 531% on the year. Foremost Lithium Resource & Technology continues to advance its lithium assets and take advantage of favourable market opportunities to increase shareholder value.