First Phosphate confirms significant deposit at Canada project

HOUSTON (ICIS)–Mineral development company First Phosphate announced it has discovered a significant high-quality igneous phosphate deposit at their Begin-Lamarche project, located in the Saguenay-Lac-St-Jean Region, Quebec.

Having received all the results from its recent drilling program at the project the outcome has demonstrated continuous phosphate mineralization spread over three mineralized zones.

First Phosphate said a compliant resource estimate is now underway with completion expected in the coming months, which will be immediately followed by work on a preliminary economic assessment for the project.

“This drilling campaign has confirmed the presence of a high-quality igneous phosphate deposit in-line with expectation and in a logistically favourable mining area at just 70km from the deep-water port of Saguenay, Quebec,” said John Passalacqua, First Phosphate CEO.