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First Phosphate Quadruples Indicated Resources
26 Aug
Summary
- Indicated resources surged 378% at Quebec's Bégin-Lamarche project.
- Project shows potential for LFP battery acid with high recovery.
- Strategic location near port and infrastructure aids development.
First Phosphate Corp has revealed significant resource expansion at its Bégin-Lamarche project in Quebec, Canada. An updated technical report shows a remarkable 378% increase in indicated mineral resources compared to the initial assessment from September 9, 2024.
The project now boasts 198.5 million tonnes of indicated resources grading 6.00% phosphate, alongside 89.5 million tonnes of inferred resources at 6.16%. The deposit remains open at depth, suggesting further growth potential.
Recent metallurgical tests indicate a highly promising apatite concentrate grade of 40.4% phosphate with an 88% recovery rate. This concentrate is suitable for producing battery-grade phosphoric acid for lithium iron phosphate batteries, achieving a 91.1% conversion ratio.
The Bégin-Lamarche site benefits from existing infrastructure, including roads and hydroelectric facilities, and is located only 70 kilometers from the deep-sea Port of Saguenay. First Phosphate's shares saw a premarket increase of 9.49% on Monday.
