Foremost Lithium Announces Commencement of Drill Program at Zoro Lithium Project
Foremost Lithium Announces Commencement of Drill Program at
Zoro Lithium Project
• Dyke 1, the Company’s maiden resource, remains the focus for resource expansion as
it’s open along strike and at depth.
• The Company has been awarded a two-year work permit from the Manitoba Mines
Branch
Vancouver, British Columbia – February 13, 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 confirm today that it has
commenced drilling on it’s Zoro Lithium Property located in the Snow Lake region of Manitoba.
The Company has received a multi-year work permit for its Zoro Property from the Mining Permit
Office of the Manitoba Government, valid until April 26th of 2026 , which will improve future
corporate administration flow, increase consistency with other application processes , and will
ease future long-term drill and exploration programs on the property. This drill program has been
partially funded from a $300,000 grant awarded to the Company by The Manitoba Mineral
Development Fund in January of 2024.
Figure 1: Planned Drill Holes Targeting Spodumene Bearing Dykes 8, 3, 5, 2, and 1
Jason Barnard, President, and CEO of Foremost Lithium, said: “Our maiden resource at our Dyke
1 remains our high priority target with the potential for significant resource expansion beyond its
current estimates. Given the fact that we have received a multi-year permit, we have time on our
side to build tonnage and resource. Our Zoro Property has 16 proven spodumene bearing lithium
pegmatite dykes. This is an ideal opportunity to get those drills turning and hit some great
intersections to create great new catalysts for our Company and shareholders , regardless of
current market conditions.”
Drilling commenced at the Zoro Property the first week of February at Dyke 8. Previous drilling at
this Dyke consisted of eight holes (total of 98.25 metres) that intersected high-grade lithium in
36.5 metres of spodumene-bearing pegmatite. Lithium assay results varied from 0.7% to 1.3% in
DDH Far18-034 over drill intersections of 0.9 -4.9 metres and from 1.1% to 1.5% Li2O in DDH
Far18-035 over drill intersections of 2.2 to 12.3 metres. This Dyke has been defined over 120
metres in length, 5 -15 metres in width , has been drilled to a depth of 157 meters and remains
open in all directions. Dyke 3 will also be drill tested as it is also open in all directions. Additional
drill testing will be performed to determine the relationship between Dyke 8 and Dyke 3 . Other
spodumene bearing dykes will also be drill tested for resource expansion and development.
Foremost’s highest priority, Dyke 1, hosts an inferred resource from a single high -grade lithium
bearing spodumene pegmatite - partially outcropped at surface – of 1,074,567 tons at a grade of
0.91% Li2O, with a cut-off of 0.3%, as set forth in the Company’s filed SK -1300 Technical Report
Summary (2023) and NI -43-101 Technical Report (2018). Mineralization at Dyke 1 is defined for
265 metres along strike, up to 40 m etres wide and to a depth of 265 metres. It is open in all
directions which is expected to provide Foremost an excellent source for further resource
development.
Picture 1: Dahrouge Geological Consulting and Rodren Drill Crew in Gogal Hanger on Zoro Site
Drilling is underway with a drill rig and crew provided by Rodren Drilling Ltd. (Winnipeg,
Manitoba). Air support, core storage and preparation facilities are provided by Gogal Air Services,
and drill pads were cut by Moss Line Cutting Ltd. ( both of Snow Lake, Manitoba). Field and
technical support for the drilling program is provided by Dahrouge Geological Consulting
(Edmonton, Alberta). The Zoro Property drill program was originally targeted to commence
following or in conjunction with our Jean Lake property drilling program, but it was decided to
first initiate the drill program at Dyke 1 on the Zoro property, with the Jean Lake drill program to
follow at a later date.
The Company also announces that it has entered into a marketing and consulting agreement (the
“Agreement”) with Lakefront Enterprises Inc. (“Lakefront”). Under the Agreement, Lakefront will
provide, among other services, various marketing, electronic media, social media and traditional
media support for the Company. Located in Vancouver, British Columbia, Lakefront has been
retained on a three-month term for a one -time fee of $172,000 for its services. After the initial
three-month period the Agreement will continue for consecutive one -month terms unless
terminated by either party upon providing the other party with 30 days’ notice. Lakefront is not
a related party and is arm’s length to the Company. Lakefront does not currently own any shares
of the Company; however, an affiliate of Lakefront currently owns 1,000 shares of the Company.
Qualified Person
Technical information in this news release has been reviewed and approved by Dr . Mark Fedikow,
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 Securities and Exchange Commission’s S-
K 1300 rules for mineral 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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limitation, those associated with the environment, delays in obtaining governmental approvals, permits
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