The Zoro Lithium Property, situated in the Snow Lake area of Manitoba, is owned by Foremost Lithium Resource & Technology, a hard-rock lithium exploration company based in North America. They have started drilling on the property.
Planned Drill Holes Targeting Spodumene Bearing Dykes 8, 3, 5, 2, and 1. Image Credit: Foremost Lithium Resource & Technology
The Manitoba government's Mining Permit Office has granted the company a multi-year work permit for its Zoro Property, which is good until April 26, 2026. This will facilitate long-term drill and exploration projects on the property, streamline corporate administration going forward, and increase consistency with other application processes.
A $300,000 grant given to the company by The Manitoba Mineral Development Fund in January 2024 has helped to partially finance this drilling effort.
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 resources. 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.
Jason Barnard, President and CEO, Foremost Lithium Resource & Technology
At Dyke 8, drilling at the Zoro Property started the first week of February. Eight holes totaling 98.25 m were drilled at this Dyke previously, and they intersected high-grade lithium in 36.5 m of pegmatite containing spodumene.
In DDH Far18-034 over drill intersections of 0.9–4.9 m, lithium assay values ranged from 0.7% to 1.3%, whereas in DDH Far18-035 over drill intersections of 2.2 to 12.3 m, they ranged from 1.1% to 1.5% Li2O. This dyke has been dug to a depth of 157 m, measures more than 120 m in length and 5 to 15 m in width, and is still open in all directions. Since Dyke 3 is open in all directions, it will also be subjected to drill testing.
To ascertain the connection between Dyke 8 and Dyke 3, more drill testing will be conducted. Drill testing will also be done on additional dykes bearing spodumene to expand and develop the resource.
According to the Company's filed SK-1300 Technical Report Summary and NI-43-101 Technical Report (2018), Dyke 1, Foremost's highest priority, hosts an inferred resource of 1,074,567 tons at a grade of 0.91% Li2O, with a cut-off of 0.3%, from a single high-grade lithium bearing spodumene pegmatite that is partially outcropped at the surface.
Dyke 1's mineralization is identified for 265 m along its strike, up to 40 m in width, and 265 m down. Since it is open in every way, Foremost should be able to use it as a great source for future resource growth.
Rodren Drilling Ltd. provides the drill rig and crew for the current drilling operation. Gogal Air Services of Snow Lake, Manitoba provides air support, core storage, and preparation facilities, and Moss Line Cutting Ltd. cuts the drill pads.
Dahrouge Geological Consulting provides technical and field support for the drilling program. It was originally intended for the Zoro Property drill program to start concurrently with or after the Jean Lake Property drilling program.
However, it was ultimately decided to start the Zoro Property drill program at Dyke 1 and go on to the Jean Lake drill program later.
Additionally, the Company reports that it has signed a marketing and consulting contract with Lakefront Enterprises Inc. As per the terms of the Agreement, Lakefront will offer the Company support in electronic, social, and conventional media as well as various forms of marketing.
For a one-time payment of $172,000, Vancouver, British Columbia-based Lakefront has been hired for three months. Unless any party terminates the Agreement by giving the other party thirty days' notice, it will continue for successive one-month terms following the original three-month period.
Lakefront is independent of the Company and not a linked party. Although an affiliate of Lakefront now holds 1,000 shares of the Company, Lakefront does not currently own any shares of the company.