Foremost Lithium Successfully Completes its Winter Drill Program at its Zoro Lithium Project in Manitoba, Canada
Foremost Lithium Successfully Completes its Winter Drill
Program at its Zoro Lithium Project in Manitoba, Canada
Summary:
• Over 5,800 meters completed over 21 diamond drill holes
• Drilling results demonstrat e continuity of lithium mineralization along Dyke 1 ,
extending the previous mineralized body by 150 meters to over 400 meters in
several 50 -meter steps out providing promising potential for new resource
calculation
• Dyke 1 is still open in all directions indicating potential for continued resource
expansion and subsequent future drill programs
Vancouver, British Columbia – May 23, 2024 - Foremost Lithium Resource & Technology
Ltd. (NASDAQ: FMST) (CSE: FAT) (“Foremost Lithium”, “Foremost” or the “Company”), a
North American hard-rock lithium exploration company, is pleased to announce that is has
successfully completed its 2024 winter diamond drilling program on its Zoro property, which
was previously announced in the Company’s press release dated February 13, 2024. The
Company completed 5,826 meters, 21 diamond drill holes targeting untested mineralization
to the south-east of Dyke 1, the Company's maiden inferred resource of 1,074,567 tons at a
grade of 0.91% Li2O, with a cut-off of 0.3%, as outlined in the Company’s filed Regulation SK-
1300 Technical Report Summary (2023) and NI-43-101 Technical Report (2018).
Drilling results have demonstrated the continuity of lithium mineralization along Dyke 1 ,
targeting new, untested areas proximal to the dyke, as well as infill areas along strike and at
depth. In the west, the body is comprised of multiple near surface lithium-bearing
pegmatites that range up to an apparent 17.9 m thickness; Multiple 50-meter step-outs,
perpendicular to the strike of Dyke 1, were used to assess lateral continuity as well as the
presence of at depth , extending Dyke 1 from a previous 265-meter strike length to greater
than 400 meters. Spodumene was confirmed in drill core in several of the 50 metre step out
extensions, providing promising potential for new resource calculation.
“We are pleased to announce the conclusion of a successful drill program on our Zoro
Property, which we believe is likely to reflect a continuity of mineralized lithium along Dyke
1, ” said Jason Barnard, President & CEO of Foremost Lithium. “As global lithium trends
continue to straighten, we look forward to the final assay results, which provide the potential
for us to pursue additional resource expansion on the Zoro property. ”
The Company reported initial assay results (see press release dated April 08, 2024 ) on the
first two holes confirming lithium mineralization spanning a cumulative length of 25.92
metres including 1.09% Li2O across 10 metres on drill hole FL24-010 and 1.52% Li2O in drill
hole FL24-009 across 5.02 meters. A total of 973 drill core samples have been collected for
assay and shipped to SGS Laboratories in Burnaby for detailed analysis. All remaining assays
are still pending and are anticipated to be reviewed a nd completed in approximately 4 to 6
weeks.
Drilling Details*
Hole ID Prospect Easting
(m)
Northing
(m)
Elevation
(m)
Azimuth
(deg.)
Dip
(deg.)
Depth
(m)
FL24-001 Dyke 8 459503 6080341 291 68 55 125
FL24-002 Dyke 8 459487 6080307 290 68 65 176
FL24-003 Dyke 8 459496 6080388 291 77 55 125
FL24-004 Dyke 8 459494 6080256 291 100 65 149
FL24-005 Dyke 8 459435 6080198 295 93 45 119
FL24-006 Dyke 8 459440 6080115 296 102 45 125
FL24-007 Dyke 1 458332 6079101 280 74 45 248
FL24-008 Dyke 1 458274 6079080 280 73 55 395
FL24-009 Dyke 1 458369 6078943 287 77 55 308
FL24-010 Dyke 1 458369 6078943 287 77 45 287
FL24-011 Dyke 1 458383 6078886 286 76 45 300
FL24-012 Dyke 1 458383 6078886 286 74 55 311
FL24-013 Dyke 1 458323 6078872 288 76 60 449
FL24-014 Dyke 1 458398 6078833 286 75 45 299
FL24-015 Dyke 1 458332 6078826 288 75 55 425
FL24-016 Dyke 1 458349 6078773 287 75 45 395
FL24-017 Dyke 1 458407 6078788 286 75 45 350
FL24-018 Dyke 1 458461 6078856 286 75 45 200
FL24-019 Dyke 1 458322 6078872 288 70 52 350
FL24-020 Dyke 1 458276 6079080 273 95 52 350
FL24-021 Dyke 1 458322 6078873 288 68 52 350
*Data Verification / Quality Assurance and Quality Control
Due to the vertical orientation and variable nature of mineralization at the Company’s Dyke
1 deposit, the reported drill intersection lengths, derived from linear measurements along
the drill core, may not accurately represent the true width of the minera lized zones. Best
practice drilling techniques and geological interpretation were utilized to intersect
mineralization in an orientation that approximates the true width as closely as feasible.
Figure 1: Location of diamond drill holes from the Winter 2024 drill campaign superimposed on magnetic Root-To-Pole
(RPT) geophysical data.
Dyke 1 – Future Potential
The body is still open in all directions indicating potential for continued resource expansion
and subsequent future drill program s. Foremost will be reporting the results of all assays
on a subsequent news release.
Qualified Person
Technical information in this news release has been reviewed and approved by Matthew
Carter, P.Geo., who is a Qualified Person as identified by Canadian National Instrument 43-
101-Standards of Disclosure for Mineral Projects and as defined by the Securitie s and
Exchange Commission’s Regulation S-K 1300 rules for resource deposit disclosure.
About Foremost Lithium
Foremost Lithium (NASDAQ: FMST) (CSE: FAT) (FSE: F0R0) (WKN: A3DCC8) is a hard -rock
lithium exploration company focused on empowering the North American clean energy
economy. Foremost’s strategically located lithium properties extend over 43,000 acres in
Snow Lake, Manitoba, and hosts a property in a known active lithium camp situated on over
11,400 acres in Quebec called Lac Simard South.
Foremost’s four flagship Lithium Lane Projects as well as its Lac Simard South project are
located at the tip of the NAFTA superhighway to capitalize on the world's growing EV
appetite, strongly positioning the Company to become a premier supplier of North America's
lithium feedstock. As the world transitions towards decarbonization, the Company's
objective is the extraction of lithium oxide (Li₂O), and to subsequently play a role in the
production of high-quality lithium hydroxide (LiOH), to help power lit hium-based batteries,
critical in developing a clean -energy economy. Foremost Lithium also has the Winston
Gold/Silver Property in New Mexico USA. Learn More at www.foremostlithium.com.
Contact and Information
Company
Jason Barnard, President and CEO
+1 (604) 330-8067
Investor Relations
Lucas A. Zimmerman
Managing Director
MZ Group - MZ North America
(949) 259-4987
www.mzgroup.us
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