Properties

Zoro Lithium Project

Foremost Lithium’s Zoro Lithium Project, is located in west-central Manitoba, 571 km north-northeast of Winnipeg, approximately 20 km east of the town historic mining friendly town of Snow Lake. It has a long history of extractive industries with excellent infrastructure: surrounded by operational mines, rail, power, and access to a skilled workforce.

Figure 1: Zoro Property Location Map

Figure 2: Foremost Property Map with Zoro Property Claims

The Zoro1 claim, that hosts the primary source of lithium on the property in Dyke 1, and the Green Bay and Manitoba options are 100% percent owned. Foremost owns the rights to 100% of the lithium resources.  The 30 km₂ property consists of 16 claims on a 8,377-acre, 3,390-hectare land package hosting 16 lithium-bearing pegmatites.

The Li2O inferred mineral resource estimate for the Zoro Property is 1,074,567 tonnes in situ at a grade of 0.91% Li2O, with a cut-off of 0.3% Li2O and metallurgical recovery of 90%. The inferred resource on the Zoro Property is entirely from a single high-grade lithium bearing spodumene pegmatite dyke (Dyke-1) partially outcropping at surface on the Zoro Property. Dyke 1 mineralization has demonstrated a 6% Li2O concentrate can be developed from low-iron, white to light green spodumene using industry standard methods.

Foremost has subsequently discovered a total of sixteen (16) spodumene mineralized pegmatite dykes which remain open for further drilling to build additional compliant resources. To date, pegmatite dykes exhibit excellent grades and drill-indicated widths, up to 1.4% over 49.8 m.

Currently there have been seven total drill programs on the property by Foremost Lithium and previous operators.  Foremost most recently completed their last drill program in April of 2022 for approximately 10,000 meters in 70 holes drilled and $6.5 million in exploration.

Access the link below to view the current NI 43-101 (known as the company’s previous name of Far Resources):

 NI 43-101

HIGH-QUALITY 6% BATTERY-GRADE LITHIUM HYDROXIDE

A preliminary metallurgical test was conducted to determine possible concentrate grade recoverable from the Zoro dyke-1 deposit in 2020. In May 2022, Foremost Lithium contracted XPS Expert Process Solutions (a Glencore company) to develop a process to refine spodumene concentrate (SC6 technical specification) into a saleable battery-grade lithium hydroxide product.  Foremost successfully completed its program to process an initial 500 kg mini bulk sample of spodumene-bearing pegmatite from Dyke-1 into a SP6 technical specification spodumene concentrate into battery-grade LiOH and Li2CO3.

Final test results confirmed in March of 2023 that Dense Media Separation (“DMS”) and flotation of DMS Middlings together, achieved a global lithium recovery of 81.6% at a spodumene concentrate grade of 5.88% Li2O. Pyrometallurgical and hydrometallurgical testing on the DMS spodumene concentrate have shown that the final product is amenable to a flowsheet, capable of producing both battery grade lithium products, Lithium Carbonate (Li2CO3) and Lithium Hydroxide (LiOH).

The flowchart shows sequencing of the metallurgical test work. Completed HLS, DMS, and dry magnetic separation test work confirms that heavy liquid separation (HLS) demonstrates excellent potential for the recovery of an on-spec lithium concentrate from the Master Composite by dense media separation were prepared from a fairly coarse particle size of -12.7/+0.5 mm. Results from HLS testing were confirmed in the DMS pilot plant. DMS processing followed by dry magnetic separation produced a 5.93% Li2O spodumene concentrate, at a global lithium recovery of 66.9%, in approximately 27% of the mass which is in good agreement with the HLS results. The iron contents in the final lithium concentrates from both HLS and DMS were slightly above the 1% Fe2O3 requirement, but still acceptable for subsequent hydrometallurgical lab testing. Pyro and hydromet test focused on generating a marketable lithium hydroxide product.

 

The Zoro Dyke 1 metallurgical program investigated the feasibility of lithium beneficiation by dense media and dry magnetic separation with the goal of producing a 6% Li2O concentrate from a Master Composite, at a fairly coarse particle size of -12.7/+0.5 mm. Completed HLS, DMS, and dry magnetic separation test work confirms that heavy liquid separation (HLS) demonstrates excellent potential for the recovery of an on-spec lithium concentrate from the Master Composite by dense media separations.

Timelines of this project:

ZORO PROJECT EXPLORATORY 2022 DRILL PROGRAM

In April 2022, completed a 10-hole, 1,509 m drill program to test geological targets and Mobile Metal Ion soil geochemical anomalies.

Dyke 16

Foremost Lithium announced newly discovered spodumene-bearing pegmatite dyke 16 on its Zoro property. The sixteenth dyke was intersected by two drill holes with intervals of up to 5 meters of 15% light green spodumene. A total of 8.28 m of spodumene-bearing pegmatite was intersected by two drill holes with highlight intercept of 1 m of 1.33% Li2O

Dyke 8

Hole DDHFM22-71 undercut the original 2018 pegmatite discovery hole and intersected two discrete pegmatites and intersected 0.05% - 0.86% Li2O in 5 core samples over 4.71 m

^{Sample pictures of Dyke 8 with up to 15% light green spodumene crystal aggregates.}

Assay Samples

A total of 19 core samples of pegmatite were collected from drill core. Fourteen samples were collected from pegmatite with visible spodumene, and five samples were collected from pegmatite without visible spodumene. Nine samples were collected from lithologies other than pegmatite. Fifty-seven samples were collected from core mineralized with disseminated and stringer arsenopyrite, lesser pyrite and chalcopyrite for gold assay. After logging and both wet and dry photographic recording, all core samples were sawn in half and one half of the core has been shipped to Activation Laboratories (Ancaster, Ontario) for assay.

Summary of 2022 Drill Results

Dyke 8 – Historical Data

High-grade spodumene pegmatite Dyke 8 was discovered on the Zoro property in 2018 by the drill testing of a Mobile Metal Ions soil geochemical anomaly. Drill hole Far18-35 testing the MMI anomaly intersected 36.5 m of spodumene-bearing pegmatite. Assay results from hole FAR18-35 included three separate intercepts of high-grade lithium including 12.3 m of 1.1% Li2O, 4.4 m of 1.2 % Li2O, and 2.2 m of 1.5% Li2O.

In 2022 DDHFM22-71 was drilled at -65 degrees to undercut the 2018 pegmatite intersections. A 4.5-meter spodumene-bearing pegmatite was intersected between 70.45 and 75.89 meters before being truncated by a fault. This intercept is 37 meters below the previous 2018 drill intercepted Dyke 8 spodumene mineralization. A further pegmatite was intersected below the fault between 84.4 and 86.65 meters. To date Dyke 8 has drill indicated dimensions of 120 m in length, 5-15 m in width and has been drilled to a depth of 157 m.

MINERALOGICAL AND CHARACTERIZATION

Light green to white spodumene mineralization occurs within laterally and vertically extensive pegmatite dykes hosted by mafic volcanic rocks and felsic sedimentary rocks indicating there are no preferred host rocks for the dykes The spodumene-bearing pegmatite dykes on the property strike northwest with steep dips and crosscut the regional foliation at a low angle. They are up to 800 m in length and 40 m in drill intersection. The dykes tend to be concentric in internal structure and constituent minerals include potassium feldspar, albite, muscovite, quartz, spodumene and black tourmaline.

Abundant overburden cover characterizes much of the property and the pegmatite dykes do not have a consistent recognizable geophysical signature although some dykes show an association with magnetic lows based on limited historic magnetic surveys . Many past spodumene-bearing pegmatite dykes have been discovered by drilling Mobile Metal Ions (MMI) soil geochemical anomalies on the property. The Zoro Lithium Project is underlain by ocean floor volcanic rocks of the Roberts Lake allochthon and lesser amounts of Missi Group sedimentary rocks. The Ocean Floor rocks comprise mafic volcanic and related intrusions and the Missi Group consists of sandstone, siltstone, mudstone, and quartzo-feldspathic gneiss and migmatite. The Ocean Floor mafic volcanic rocks adjacent to the pegmatite dykes consist of a fine to medium-grained strongly foliated dark green lithology. These andesitic to basaltic lithologies are locally interbedded with volcaniclastic sedimentary rocks and all are intruded by a quartz-phyric granite intrusion (Figure 3).

Pegmatite dykes generally strike northwest to north-northwest with steep dips and crosscut the regional foliation at a low angle. The dykes tend to be concentric in internal structure and the grain size of the constituent minerals (potassium feldspar, quartz, spodumene and black tourmaline) coarsens towards the center of the dykes. This pattern may be locally interrupted by patches of saccharoidal albite, large muscovite aggregates and coarse albite stringers with garnet and beryl. Spodumene may be concentrated in the cores of the dykes or homogenously distributed. Some of the dykes have been split into sub-parallel veins by post-emplacement tectonic activity.

You can read about the Mineralogical Characterization and Preliminary Beneficiation of the Zoro Lithium Project here: (known as Company’s previous name Far Resources):

 Mineralogical Characterization and Preliminary Beneficiation of the Zoro Lithium Project

^{Figure 3. Geological setting of the Zoro Lithium Project with claim boundaries.}

MINERAL DEVELOPMENT IN MANITOBA

Zoro is well situated in Manitoba with the potential for development. Manitoba is home to the world-class Tanco lithium-cesium-rare metal pegmatite at Bernic Lake. This mining-friendly province has a supportive, pro-business climate, mineral exploration assistance programs, and excellent access to geoscience and exploration data that will assist the company to advance its projects.

More than 98% of electricity in Manitoba is generated using hydroelectricity and wind, and access to abundant renewable power is sourced from the provincial grid. Additionally, the province has stable and well-developed mining and transportation infrastructure. The hydro line to Snow Lake is 5 km south of the property and the small historic gold mining community of Herb Lake is located about 10 km southwest of the property. A railway line is located at Wekusko, approximately 20 km south of Herb Lake. Electricity rates in Manitoba are reasonably priced and comparable to Québec.

Foremost Lithium is strategically located with proximity to North American electric vehicle and battery manufacturers, with robust existing infrastructure including the Arctic Gateway railway that runs to the south connecting via Winnipeg to the U.S. rail network for operational synergies and refining requirements

CURRENT DEVELOPMENTS

Exploration has been rapidly advancing on the Zoro Lithium Property. A drone-assisted magnetic and Lidar survey was undertaken by EarthEx Geophysical Solutions Inc (“EarthEx”) between May 28 and June 15, 2022, and comprised 1,264.7-line km. The related geoscientific database helps to demonstrate sufficient technical merit to continue the assessment of known pegmatite dykes and helps to explores for repetitions of this style of mineralization. The completed UAV-assisted magnetic and LiDAR surveys integrates data sets with MMI soil geochemical data, mapping and prospecting data as well as drill core data with an integrated program of prospecting, innovative soil geochemical surveys as well as airborne geophysics high-resolution subsurface imagery technology are all integrated and reviewed into an amalgamated data set. The primary goal after receiving all data is to further review all existing and newly discovered lithium pegmatite dykes from its past drill programs on the property based to determine best drill targets.

Mapping and geochemical surveys compliments the magnetic survey and will provide a base for the Company’s planned spring/summer follow-up exploration in 2023. This same approach to exploration has led to the discovery of 16 previously unknown spodumene-bearing pegmatite dykes and the delineation of multiple lithium targets.

TANTALUM + NIOBIUM — INCREASING THE POTENTIAL VALUE OF ZORO

A high-grade drill intercept of tantalum (0.117 % Ta2O5 or 927 ppm tantalum; see November 1, 2017, news release [link]) was accompanied by elevated niobium in samples of drill core.

Currently, the significance of the elevated tantalum and niobium is unknown, but it will be closely assessed as Foremost Lithium exploration continues.

Tantalum is a rare, hard, blue-gray, corrosion-resistant metal that is widely used as a minor component in alloys. Tantalum is inert, making it a valuable substance for sensitive laboratory equipment and a substitute to platinum.

Tantalum exists alongside niobium, a chemically similar metal, which is also valuable. It is mainly used in alloys and is the largest metal in special steel, often used in gas pipelines. The stability of niobium-containing super alloys at high temperatures makes such alloys an important component in jet and rocket engines. Niobium is also used in various superconducting materials including the superconducting magnets of MRI scanners. Other applications of niobium include welding, nuclear industries, electronics, optics, numismatics, and jewelry.

The renewable energy sector “metals-rich” green infrastructure is likely to spur investment and will boost the lithium market. Foremost Lithium’s Zoro Property is focused on expanding exploration and proving up high-grade lithium to address the current and future domestic lithium battery demand.