Foremost Lithium Identifies Future Additional Drill Targets and Strategically Extends Claims on Its Manitoba Lithium Projects
Foremost Lithium Identifies Future Additional
Drill Targets and Strategically Extends Claims
on Its Manitoba Lithium Projects
Vancouver, British Columbia--(Newsfile Corp. - April 3, 2023) -
Foremost Lithium Resource &
Technology Ltd.
(CSE: FAT) (OTCQB: FRRSF) (FSE: F0R0) (WKN: A3DCC8)
(
"
Foremost
Lithium
"
,
"
Foremost
"
or the "
Company
"
)
is pleased to announce it has identified numerous future
exploration targets from a preliminary analysis of UAV-assisted magnetic and LiDAR surveys on its
Lithium Lane properties located near Snow Lake, in the mining friendly province of Manitoba. The
surveys were flown by EarthEx Geophysical Solutions Inc. (Selkirk, Manitoba) last year and totalled
7,472.7-line km at a flight line azimuth of 070° and a 25 meter flight line spacing.
EarthEx produced 3D magnetic inversion models and advanced 2D data imagery using the high-
resolution UAV magnetic data collected from the Lithium Lane properties and these images along with
LiDAR imagery provide the basis for an enhanced assessment of lithium pegmatite ground exploration
follow-up.
Foremost's President and CEO Jason Barnard comments,
"We continue to utilize all available modern
scientific technology to find potential pegmatite targets on our Lithium Lane Properties. It's exciting to
capture such significant datasets of prospective new structures with assistance from EarthEx
Geophysics. The Peg North and Grass River Claim Properties are Manitoba projects that I've been
looking forward to furthering exploration since we acquired last year, and receiving these magnetic
reports continues my enthusiasm towards these great assets."
Magnetic Discontinuities and LiDAR
A review of the magnetic survey data on each of the four Lithium Lane properties has defined numerous
discontinuities in the magnetic fabric as documented by the UAV-assisted survey. These discontinuities
are interpreted to reflect geological structures with the potential to provide pathways for lithium-bearing
pegmatite and other mineralization. The orientations of the discontinuities are consistent with those of
the B1 pegmatite on the Company's Jean Lake property and the Thompson Brothers deposit hosting
11.1 million metric tonnes of indicated and inferred resources at 1% Li20 (lithium oxide).
1
Similarly, high resolution LiDAR models of ground elevation or relief on the Lithium Lane properties have
also defined many areas with comparable orientations as known spodumene-bearing pegmatite. Both
magnetic discontinuities and LiDAR images with appropriate orientations are planned for ground
truthing and follow-up pegmatite exploration.
Major Fault Structure
The preliminary review of the UAV-assisted magnetic survey on the Peg North property has defined a
major fault structure oriented approximately north-south and with a sinistral sense of movement (Figure
1). The structure occurs in the eastern portion of the property, is approximately 50 meters wide and
extends for 3 km. Associated with this structure is a large zone of magnetic lows with an approximate
area of 39 hectares.
Figure 1. Fault structure defined by UAV-assisted magnetic survey, Peg North property, Snow
Lake area.
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LiDAR surveys will commence with focus on this structure and the related magnetically depleted zone on
the Peg North property in the spring.
This data will provide additional guidance for ground follow-up of
this structure using an integrated approach of prospecting, rock and soil geochemical surveys.
New Claims
Figure 2. New Claims Shown In Dotted Purple
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Foremost would also like to announce that they staked two new claims (MB 14699 and MB 14700)
providing linkage between the Peg North Lithium Property and Grass River Claims (Figure 2) adding
790 acres/320 hectares, and making both properties contiguous, thereby allowing the application of
assessment credits earned from exploration on either property applicable. The claims were staked by
Moss Linecutting with helicopter support provided by Gogal Air Services, both based in Snow Lake,
Manitoba.
Zoro Property Update
The Company also wishes to correct certain past disclosure which have referenced the Company's Zoro
Property as comprising an aggregate of 3,603 hectares.
The Company wishes to confirm that the Zoro
Property consists of 16 mining claims located in the Province of Manitoba comprising an aggregate of
3,005 hectares.
Qualified Person
Technical information relating to information contained in the news release has been approved by Mark
Fedikow, P. Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101
Standards of Disclosure for Mineral Projects
.
On Behalf of the Board of Directors
Jason Barnard, President and CEO
Email:
Phone: +1 (604) 330-8067
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news
release and accepts no responsibility for the adequacy or accuracy hereof.
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a hard-rock exploration company with over 43,300 acres located in Snow Lake,
Manitoba. It's 5 Lithium Lane Projects, Zoro, Jean Lake, Grass River, Peg North and Jol, are
strategically located to capitalize on the world's growing EV appetite and is perfectly positioned 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 (Li
O), and to subsequently
play a role in the production of high-quality lithium hydroxide (LiOH), to help power lithium-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
.
Follow us or contact us on social media:
Twitter: @foremostlithium
Linkedin:
https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
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https://www.facebook.com/ForemostLithium
Forward-Looking Statements
This news release contains "forward-looking statements" and "forward-looking information" (as defined
under applicable securities laws), based on management's best estimates, assumptions, and current
expectations. Such statements include but are not limited to, statements with respect to the plans for
future exploration and development of the Company's properties and the acquisition of additional
exploration projects. Generally, these forward-looking statements can be identified by the use of forward-
looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates" "plans",
"anticipates", "believes", "intends", "estimates", "projects", "aims", "potential", "goal", "objective",
"prospective", and similar expressions, or that events or conditions "will", "would", "may", "can", "could"
or "should" occur. These statements should not be read as guarantees of future performance or results.
Such statements involve known and unknown risks, uncertainties and other factors that may cause actual
results, performance or achievements to be materially different from those expressed or implied by such
statements, including but not limited to:
risks related to the receipt of all necessary regulatory and third
party approvals for the proposed operations of the Company's business and exploration activities,
completion of the Company's recently announced financing, risks related to the Company's exploration
properties; risks related to international operations; risks related to general economic conditions, actual
results of current exploration activities, unanticipated reclamation expenses; changes in project
parameters as plans continue to be refined; fluctuations in prices of commodities including lithium and
gold; fluctuations in foreign currency exchange rates, increases in market prices of mining consumables,
possible variations in resources; failure of
equipment or processes to operate as anticipated; accidents,
labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining
industry; delays in the completion of exploration, activities, changes in national and local government
regulation of mining operations, tax rules and regulations, and political and economic developments in
jurisdictions in which the Company operates. . Although the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. The forward-looking statements
and forward-looking information are made as of the date hereof and are qualified in their entirety by this
cautionary statement. The Company disclaims any obligation to revise or update any such factors or to
publicly announce the result of any revisions to any forward-looking statements or forward-looking
information contained herein to reflect future results, events or developments, except as require by law.
Accordingly, readers should not place undue reliance on forward-looking statements and information.
Please refer to the Company's most recent filings under its profile at
www.sedar.com
for further
information respecting the risks affecting the Company and its business.
________________________
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