Foremost Lithium Identifies Multiple New High Priority Pegmatite Targets on Its 100% Owned Jean Lake Lithium Project in Snow Lake, Manitoba
Foremost Lithium Identifies Multiple New High
Priority Pegmatite Targets on Its 100% Owned
Jean Lake Lithium Project in Snow Lake,
Manitoba
Highlands Ranch, Colorado--(Newsfile Corp. - April 19, 2022) -
Foremost Lithium Resource &
Technology Ltd.
(CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8
) ("
Foremost
"
or the
"
Company
")
(
www.foremostlithium.com
),
is pleased to announce final interpreted results from the
Unmanned Aerial Vehicle, ("
UAV
") magnetic survey over the Jean Lake property first disclosed on
March 1
st
, 2022 (see press release of same date). Jean Lake is Foremost's 100% owned 1,002-
hectare (2,476-acre) property situated in Snow Lake, Manitoba, Canada. The North-East sector of
Foremost' s Jean Lake property (claim JOL 9419) directly abuts with Snow Lake Lithium's Sherritt
Gordon ("
SG
") and Grass River ("
GRP
") pegmatites exposed on Snow Lake Lithium's ADD3203 claim.
Final images from EarthEx Geophysical Solutions Inc. ("
EarthEx
") magnetic data identified fourteen
(14) high priority structural targets for further exploration work in the northern portion of the Jean Lake
property. Fourteen sets of independently colored lines are final interpretations of the magnetic low
lineaments from a Centre for Exploration Targeting (
"CET"
) analysis and overlay the magnetic "low"
picks layer. The coincidence of the magnetic lows with the Beryl Pegmatites and their extension along a
trend recognized for its association with Snow Lake Lithium's high-grade SG and GRP spodumene
pegmatites is highly encouraging. Of particular importance,
Target 11 (BLUE)
and
Target 10 (GREEN)
directly match the previously identified Beryl Pegmatite dykes (B-1 and B-2) which assayed between
3.89%
and
5.17% Li
2
O,
respectively. The locations of the
B-1
and
B-2
Beryl Pegmatite dykes are
annotated with the magnetic data in Figure 1.
Figure 1 - Magnetic image covering the Jean Lake property. The gap in the image is due to the
location of Hydroelectric power lines crossing the property. Location B-1 assayed 3.89% Li
2
O
connects with target 11; and Location B2 (red circle) assayed 5.17% Li
2
O and connects with target 10.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4689/120836_foremostfigure1.jpg
Figure 2 builds upon Figure 1 now showing Snow Lake Lithium's SG and GRP spodumene pegmatites
as per their disclosed interim drilling results from March 10
th
, 2022
[1]
. There are multiple features which
appear to connect the known pegmatite dykes and interpreted lineaments on both properties.
Figure 2 - Foremost Lithium's Jean Lake magnetic survey results with overlays of Snow Lake
Lithium's SG and GRC pegmatites.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4689/120836_foremostfigure2.jpg
Lindsay Bottomer, Co-founder, and Geoscience Advisor of Foremost states: "
The Jean Lake results
are very encouraging with regards to the clarity and abundance of the trends of magnetic lows
identified from the EarthEx magnetic data. Targets 10 and 11 correspond with the locations of the B-1
and B-2 Beryl Pegmatites on Jean Lake and Targets 5, 6, and 7 are on trend with the SG and GRP on
Snow Lake Lithium's ground. On March 10
th
, 2022, Snow Lake Lithium announced results from
exploration hole GRP-001, an exploration hole previously undrilled, returned 2 pegmatite intercepts
grading 30% spodumene from 34.8 m to 40.48 m, and 41.86 m to 44.22 m for a total intersection of
8.04 m
[1]
. It is noteworthy that Snow Lake Lithium's GRP structure appears to directly connect to one of
the imaged magnetic low features present on Jean Lake.
We have prioritized the top 10 drill targets for
an immediate drill program based upon all available data
."
Scott Taylor, President and CEO of Foremost Lithium states: "
The final magnetic data interpretation,
together with the 3.89% Li2O assayed on the B-1 Beryl pegmatite outcrop and the 5.17% Li2O on the
B-2 Beryl pegmatite outcrop, and the March 10
th
disclosure of Snow Lake Lithium's interim drilling
results hitting intercepts of 30% spodumene on GRP-001 have imparted a sense of urgency and
enthusiasm to extend and expedite our exploration work and drilling campaign throughout the spring
and summer on Jean Lake.
"
Scott Taylor continues: "
In recent news, Canada's mining sector is set to receive an unprecedented
tranche of Federal incentives to accelerate and scale up production of raw materials used in EV
batteries
[2]
. One example is the new Critical Mineral Exploration Tax Credit (CMETC) which
specifically incentivizes capital deployed to support hard rock Canadian lithium exploration and
development activities. Stellantis and LG Energy Solution recently announced a new $4.9 Billion-
dollar Ontario based Gigafactory scheduled to come online in 2024. American automakers General
Motors & Ford Motor Co. have both announced plans to make electric vehicles at Ontario based
factories. These long-term macroeconomic catalysts all support the Company's strategic focus and
enhance the value of our Snow Lake lithium assets which are situated nearby these massive long-
term Canadian EV investments."
Technical information contained in the press release has been approved by the Company's Co-Founder
and Geoscience Advisor, Lindsay Bottomer, P. Geo, who is a "Qualified Person" within the meaning of
National Instrument 43-101 Standards of Disclosure for Mineral Projects.
About EarthEx Geophysical Solutions Inc.
EarthEx Geophysical Solutions Inc is a Manitoba company, founded in 2014 in Selkirk, Manitoba. The
President and Chief Geophysicist, Daniel Card, P. Geo, RPGeo, holds a BSc. Hons degree from the
University of Manitoba (2007). EarthEx is highly specialized in geophysical prospecting for hard rock
minerals and works with cutting edge technologies and data analysis methodology. Since its inception in
2014, EarthEx has quickly become a household name in the Canadian mineral exploration industry, with
rapid and continued growth expected in the coming years.
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is an energy technology company focused and committed to become one of the first
North American Companies to produce high quality battery-grade lithium hydroxide. Lithium hydroxide is
a strategic battery mineral mainly consumed in the production of cathode materials for lithium-ion
batteries. Lithium based batteries power the daily use of consumer electronics, enable electrification of
the transportation sector, and provide stationary grid storage, critical to developing a clean-energy
economy. The Company is prudently and systematically exploring and building tonnage on its four lithium
properties, Jean Lake, Grass River, and Zoro located in Snow Lake, Manitoba, and Hidden Lake in the
Northwest Territories.
Foremost Lithium also holds assets in precious commodities with its Winston
Gold/Silver Project in New Mexico, USA.
For further information please contact:
Scott Taylor
President and CEO
Foremost Lithium Resource &Technology Ltd.
Email:
Phone: +1 (604) 330-8067
Twitter:
@lithiumlane
Follow us and contact us on social media:
:
@foremostlithium
:
https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
:
https://www.facebook.com/ForemostLithium
Forward-Looking Statements
All statements in this press release, other than statements of historical fact, are "forward-looking
information" with respect to Foremost within the meaning of applicable securities laws. Foremost
provides forward-looking statements for the purpose of conveying information about current expectations
and plans relating to the future and readers are cautioned that such statements may not be appropriate
for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may
be general or specific and which give rise to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that assumptions may not be correct, and that
objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but
are not limited to market conditions, exploration findings, results, and recommendations, as well as
those risks and uncertainties identified and reported in Foremost' s public filings under Foremost' s
SEDAR profile at
www.sedar.com
. Although Foremost has attempted to identify important factors that
could cause actual actions, events or results to differ materially from those described in forward-looking
information, there may be other factors that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that such information will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements.
Foremost disclaims any intention or obligation to update or revise any forward-looking information,
whether as lithium as result of new information, future events or otherwise unless required by law.
[1]
SNOW LAKE ANNOUNCES SIGNIFICANT PROGRESS UPDATE FOR WINTER DRILLING
CAMPAIGN, March 10, 2022.
Snow Lake Announces Significant Progress Update for Winter Drilling
Campaign:: Snow Lake Resources Ltd. (LITM) (snowlakelithium.com)
[2]
https://budget.gc.ca/2022/report-rapport/chap2-en.html
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/120836