LAC SIMARD SOUTH PROJECT
In May 2023, Foremost Lithium acquired Lac Simard South Property consisting of 60 mineral claims located in Quebec, Canada. In addition to those 60 claims, the Company staked an additional 20 mineral claims, contiguous to the property, increasing the project to an aggregate size of 11,482 acres (4,647 hectares). Foremost's exploration east of Manitoba, increases the Company's total lithium land holding to an aggregate of 54,758 acres/22,160 hectares.
Lac Simard South contains 12 pegmatites that were identified from satellite imagery and is nearby known active lithium camps with large established resources. This is consistent with Foremost Lithium’s focus to be within close proximity of lithium concentrators and refineries providing a key strategic competitive advantage, in cost management.
Figure 1. Area Map With Display of Foremost's New Lac Simard South Claims with Surrounding Lithium Refineries and Concentrators*
Lac Simard South is contiguous to Sayona Mining Limited and Refined Metals Corp. Lac Simard property which has sampled 2.1% lithium (Li) which is 4.52% Lithium Oxide (Li2O) and 5.88% Tantalum Oxide (Ta2O5) (Ref. Report GM 36797, 1980). Sayona Mining Limited's Abitibi Hub, comprised of its North American Lithium, Authier Lithium and Tansim Lithium projects located nearby, boasts a measured and indicated resource of 87.8 Mt grading 1.05% Li2O (Source: https://sayonamining.com.au/announcements/ March 22, 2022).
*Resource estimates contained on map in this press release were directly sourced from:
The project is located in a well-developed mining region with readily available support facilities and services. Val-d’Or is a city with a population of 30,000 inhabitants and is well-known for its mining history, with an experienced mining workforce. The Property is easily accessible year-round by way of well-maintained roads, and within a few km from major highways. Sudbury, Ontario is the closest major city, about 350 km to the southwest.
Figure 2. Lac Simard South Claims Map
Quebec is a major producer of electricity and one of the largest hydropower generators in the world, and a hydroelectric power plant is situated right within Foremost’s claim block, allowing access to gride power and low-cost hydroelectricity. The project is geographically well positioned near lithium concentrators and refineries, which is only 90km of from the property in the township of La Corne, home of The NAL Lithium Processing Plant (A Piedmont/Sayona Joint Venture) which announced it produced its first batch of spodumene concentrate (SC6).
The Lac Simard South Property is largely underlain by the large monzodiorite batholith of Lac Simard Sud. This batholith is pinkish grey in color and is composed of plagioclase, K-feldspar hornblende with minor amount of epidote and quartz. Quartz-monzodioritic dykes and sills are observed at the margin of this intrusion. A gabbroic intrusion lies to the southwest end of the Property and hosts the Laforce showing. This Ni-Cu showing was explored by Kerr Addison Gold Mines Ltd and more lately by Fieldex Exploration (2007) and lies about 1km south of the Property. The property contains 12 pegmatites that were identified from satellite imagery.
The company intends to begin a work program to validate the identified pegmatites associated in this active lithium, mining, and refining region of Quebec. An exploration program will include ground truthing – boots on the ground as a first step to confirm and describe the nature of the identified pegmatites as well as prospecting selected areas to find lithium-bearing pegmatites. Uses of indirect techniques such as drone-assisted magnetic survey in addition to surficial geochemical surveys including Mobile Metal Ions. (MMI Technology) will be contemplated in areas with scarce outcrops to help delineate new targets prospective for lithium-bearing pegmatites. Foremost will strategize plans upon return of initial assay results to contemplate areas with scarce outcrops to help delineate new targets prospective for lithium-bearing pegmatites. Once the targets are determined, a projected drilling program will follow.
Technical information relating to information contained on this property’s page has been reviewed and approved by Isabelle Robillard, P.Geo. who is a Qualified Person as defined by NI 43-101.