In its first drill program exploring for lithium in pegmatite at its Jean Lake lithium project near Snow Lake, Man., Foremost Lithium Resource & Technology says it (CSE: FAT; US-OTC: FRRSF) has intersected gold mineralization within 110 metres of surface.
Eight drill holes in the company’s 2022-2023 program intersected gold mineralization with a highlight of 7.5 grams gold per tonne over 7.7 metres from a vertical depth of 94 metres, including an interval of 102 grams gold over 0.5 metres in drill hole FM23-8.
Drill hole FM23-04A cut 11.27 grams gold over 2.8 metres starting from 74 metres downhole, including 92 grams gold over 0.3 metres, and drill hole FM23-01A intersected 2.46 grams gold over 3.7 metres starting from 41 metres.
In addition to the gold, drill hole FM23-01A returned over 3.35% metres grading 1.26% lithium oxide from (Li2O) surface. The hole at the historic B1 pegmatite was drilled down plunge and intersected pegmatite to a depth of 41 metres.
The Jean Lake project is situated in the Flin Flon-Snow Lake greenstone belt, which the company points out is “significantly endowed with gold and new developing lithium resources.”
“Historically, 5.5 million ounces of gold has been produced as a by-product of base metal copper-zinc massive sulphide type deposit production in addition to major gold deposits such as the New Britannia, Puffy Lake, and Tartan deposits, with cumulative production of more than 1.5 million ounces of gold in the Flin-Flon-Snow Lake greenstone belt,” Foremost Lithium noted in a press release Tuesday.
The 10-sq.-km property has not been explored since 1942, the company says. It kicked off exploration in the late summer of 2021 and in the fall of that year identified two spodumene beryl pegmatite outcrops, with assays including 3.89% to 5.17% Li2O.
The company recently completed a 24-hole, 3,000-metre drill program in April.
The company has received $600,000 for exploration from the Manitoba Mining Development Fund.
Jean Lake is about 600 km northwest of the Tanco mine, an underground lithium-caesium-tantalum mine that is 100% owned and operated by China’s Sinomine Resource Group. Tanco is approximately 180 km northeast of Winnipeg. According to a report on Tuesday in Canada’s national newspaper, The Globe and Mail, Sinomine hopes to build a lithium refinery in the province.
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