First Phosphate Corp Reports Promising Drill Results at Bégin-Lamarche Project

First Phosphate Corp has announced positive drill results from its Bégin-Lamarche project in Quebec, marking substantial progress in phosphate mining development. The company successfully completed a 25,929-meter drill program ahead of schedule in April, with all samples dispatched for laboratory analysis. This extensive drilling campaign supports two crucial upcoming studies: a 43-101 resource estimate and a Preliminary Economic Assessment, both scheduled for completion by the end of fiscal Q4 2024.

The drill results revealed significant phosphate layers intersected in all but two holes continuously across the 3 km magnetic trend at Bégin-Lamarche. In the Phosphate Mountain Zone, 23 drill holes were completed, with data from 20 holes showing grades exceeding 10% P2O5 and widths ranging from 7 meters to 99 meters. The Phosphate Mountain Zone, drilled for 250 meters total length, is merging with the Northern Zone, revealing a substantial 500-meter thick phosphate mineralized envelope containing up to five individual layers ranging from 60 to 100 meters in thickness.

These findings hold particular importance for global agriculture as phosphate serves as a critical component in fertilizers essential for food production. With growing world population and decreasing arable land, the demand for high-quality phosphate resources continues to increase. First Phosphate Corp's discoveries at Bégin-Lamarche could play a vital role in meeting this escalating demand while potentially reducing North American dependence on foreign phosphate sources.

The project's location in Quebec provides strategic advantages through mining-friendly policies and infrastructure, along with proximity to North American markets that could offer competitive transportation benefits and supply chain reliability. The combined strike length of the Phosphate Mountain Zone and Northern Zone spans approximately 600 meters, indicating a potentially extensive phosphate deposit that begins at surface level and extends to 300 meters depth.

The upcoming resource estimate and economic assessment will be pivotal in determining the project's full potential and economic viability, providing essential data on deposit size, quality, and extraction economics. As global attention increasingly focuses on food security and sustainable agriculture, projects like Bégin-Lamarche could become increasingly important for regional agricultural productivity and phosphate supply stability.