Foremost Lithium Completes Drone Magnetic Survey on 43,000+ Acres of Its Properties in Snow Lake, Manitoba
Foremost Lithium Completes Drone Magnetic
Survey on 43,000+ Acres of Its Properties in
Snow Lake, Manitoba
Vancouver, British Columbia--(Newsfile Corp. - November 3, 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 that it recently completed a UAV-
assisted high-resolution airborne magnetic survey on its "Lithium Lane" Properties near the historic
mining town of Snow Lake, west-central Manitoba. Foremost contracted EarthEx Geophysical Solutions
Inc. (Selkirk, Manitoba), which flew a total of 7,472.7-line km over the entire 43,031 acre/17,414hectares
land package.
UAV-Borne Magnetic Surveys
UAV-flown high resolution magnetic data lends itself very well finding new prospective drill targets
(Figures 1 and 2 below) with precision using high-resolution UAV more commonly known as a drone.
The UAV system's resolution has provided excellent litho-structural detail over all Foremost's Lithium
Lane Properties and has generated detailed 3D models of the magnetic sources on the properties. The
magnetic survey can provide valuable exploration information such as depth to source, dip of the body
as well as the overall shape and morphology of the lithological unit. The resolution of the survey allows
targeting of bedrock structures which may host lithium pegmatite deposits, which when coupled with 3D
products from inversion of magnetic survey data provides an excellent source of information for
Foremost Lithium to define drill-targets on their property based on their magnetic signatures including
both magnetic and non-magnetic targets.
Magnetometer Survey Details
The drone magnetometer surveys were flown with a flightline azimuth of 070º and flight-line spacing of
25m. Tie lines were established at 250m spacing. Each property survey and the number of line km flown
include:
1
.
Grass River Lithium Property:
Survey was conducted between April 14 and May 27, 2022, and
comprised 2,734.1-line km
2
.
Zoro Lithium Property:
Survey was conducted between May 28 and June 15, 2022, and
comprised 1,264.7-line km
3
.
Jean Lake Property
: Survey was conducted between November 29, 2021, and December 20,
2021, and comprised 483.4-line km
4
.
Peg North Property: Survey was conducted between June 15th, 2022, and October 6th,
2022, and comprised 2990.5-line km
Figures one and two show a magnetometer measuring the magnetic signature of the rocks on the
ground over the Zoro Lithium Property.
To view an enhanced version of Figure 1 and Figure 2, please visit:
https://images.newsfilecorp.com/files/4689/142984_fig1lfl.jpg
.
Interpretation:
The linear trend of magnetic lows defined on the Jean Lake property by the UAV survey are interpreted
as the extension of the magnetic signatures of the coarse spodumene-bearing Sherritt Gordon #1 and
#2 and the Grass River pegmatite dykes currently being explored and developed by Snow Lake
Resources Ltd. Mobile Metal Ion responses in soils collected over and adjacent to these magnetic
anomalies and those associated with Foremost's high-grade Beryl pegmatites are characterized by
elevated lithium, rubidium, cesium, niobium and the rare earth elements. As such, coincident magnetic
lows and elevated MMI responses for lithium and related elements will be drill tested.
Daniel Card, President, and Chief Geophysicist of EarthEx states, "
I believe that the magnetic data
collected over Foremost Lithium's properties in the Snow Lake area are among the highest quality of
any magnetic dataset that I have seen in over 15 years of geophysical data analysis for mineral
exploration. Foremost's approach to embracing new technologies in their exploration efforts may
provide a competitive advantage. We feel large continuous data sets of this calibre could play a
central role in Foremost's exploration efforts."
EarthEx has also completed a LiDAR survey on the Jean Lake Property between July 20 and July 27,
2022 and are presently underway on the remainder of the Lithium Lane properties. The results of these
surveys will assist prospecting on all Lithium Lane properties.
Foremost Lithium would like to invite shareholders to visit their booth at The 2022 Central Canada
Mineral Exploration Convention (CCMEC), taking place on November 14th and 15th at the Victoria Inn
Hotel & Convention Center, in Winnipeg. Along with a presence at the event, Vice President of
Exploration Dr. Mark Fedikow will be making a presentation at the conference.
QP Statement - The technical content of this news release has been reviewed by Dr. Mark Fedikow,
P.Geo. who is a Qualified Person as defined by NI 43-101.
Technical information relating to the Jean Lake Property contained in the news release has been
approved by Lindsay Bottomer, Q.P., 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,
Andrew Lyons, CFO and Director
About Foremost Lithium Resource & Technology Ltd.
Foremost Lithium is a hard-rock exploration company strategically located to capitalize on world's
growing EV appetite and is committed to being a premier supplier of North America's lithium feedstock.
As the world transitions towards decarbonization, the company is focused on exploration and growth on
its 5 Lithium Lane Projects in Snow Lake Manitoba, and its Hidden Lake Lithium Project in the
Northwest Territories. Foremost Lithium also has the Winston Gold/Silver Property in New Mexico USA.
Foremost Lithium Resource &Technology Ltd.
Email:
Phone: +1 (604) 330-8067
Follow us or contact us on social media:
Twitter:
@foremostlithium
Linkedin:
https://www.linkedin.com/company/foremost-lithium-resource-technology/mycompany
Facebook:
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 Company's projects; 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 metals including
gold; increases or decreases in market prices of mining consumables, possible variations in resource
estimates, grade or recovery rates; failure of plant, 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, development or construction activities,
changes in national and local government regulation of mining operations, tax rules and regulations,
changes in applicable laws or stock exchange policies and receipt of any requires regulatory approvals
and political and economic developments in areas 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/142984