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Foremost Lithium Resource & Technology (CSE:FAT,OTCQB:FRRSF,FWB:F0R0) entered into a binding agreement for the acquisition of 100 percent interest of 25 additional hectares (62 acres) in Snow Lake, Manitoba. Foremost Lithium CEO John Gravelle shares how the acquisition will help deliver value for their shareholders.
“That’s a huge acquisition for us and it’s going to increase our total number of claims to 43,000 acres. And I like operating in Manitoba. which is a great jurisdiction. There’s power, there’s water, there’s rail, there are highways. It’s ready to go,” said Gravelle.
The acquisition consisted of the Manitoba Mineral Disposition No. MB3530 located north of the company’s Jean Lake project and west of the company’s Zoro project. Recently, Foremost Lithium intersected a new spodumene pegmatite and extended Dike 8 on Its Zoro Lithium project and identified multiple new high priority pegmatite targets on Its Jean Lake Lithium project.
Gravelle said they identified an inferred resource of just over a million tonnes of lithium at Zoro and they are moving forward with a disciplined approach to exploration. The company will conduct magnetic surveys on the properties, move into product prospecting, walk the boots on the ground, walk the property, then do geo work on the projects. Gravelle added, “We’re going to continue with drilling on those projects to get more information, build up our resource, and ultimately build it to a stage where we can start mining.”
“We will definitely explore and build and operate a mine. There will be a need for processing the ore from the property into 6 percent spodumene concentrate, then that concentrate can be delivered to the factories that will produce lithium hydroxide, which is the key material that the battery manufacturers need to make the batteries.”
“We’re moving forward as quickly as possible. We’re going out as fast as we can, and we will be there for those factories.”
Gravelle added that having a huge property footprint in Snow Lake Manitoba, being in a jurisdiction where a lot of lithium has been found, and having the right people is the right combination of factors to deliver value for shareholders.
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
