Initial Findings on Igneous Rock Phosphate Ore Bodies Worldwide Published in University Research Report

Saguenay, Quebec–(Newsfile Corp. – October 2, 2024) – First Phosphate Corp. (“First Phosphate” or the “Company”) is pleased to announce the publication of a peer-reviewed research note by Queen’s University (“Queen’s”) and Université de Québec à Chicoutimi (“UQAC”) titled:

Igneous Rock Phosphate: ore grades, concentrates and mining operations around the world

Drs. Sandeep Banerjee, Peir K. Pufahl, Sarah Dare
Department of Geological Sciences and Engineering, Queen’s University
Département des Sciences Appliquées/LabMaTer, Université du Québec à Chicoutimi (UQAC)
September 23, 2024

Research Note Link

The research note examines igneous phosphate ore bodies globally, including First Phosphate’s Bégin-Lamarche property, comparing ore grades, beneficiated phosphate concentrate levels, and relevant mining operations, if applicable.

1. Comparisons of global igneous ore grades and beneficiated igneous ore

The study highlights that a small percentage of the world’s phosphate ore is derived from igneous rock, predominantly sourced from Russia, South Africa, Brazil, and Finland. These deposits, such as those in Russia’s Kola Peninsula and other global locations, are predominantly silica-undersaturated alkali intrusions and carbonatites.

Specifically, the average P₂O₅ content of the igneous phosphate ore at First Phosphate’s Bégin-Lamarche property in Quebec ranges from 2.6 to 15.0 wt.%, with an average grading of 6.01%. Testing indicates the potential for high-quality phosphate concentrate with a P₂O₅ content of ~40.9 wt.%, surpassing the global average for marketable phosphate concentrates produced from igneous ore.

Table 1: Average P2O5 contents of phosphate ore and concentrates from igneous and sedimentary phosphate rocks worldwide.

* Prepared and analyzed by SGS-Canada.

Table 2: Average P2O5 contents of igneous phosphate ore from major deposits in four countries.

2. Comparisons of global igneous phosphate rock mining operations

The research also delves into open-pit and underground mining operations for igneous phosphate ore, with open-pit operations becoming increasingly prevalent. Notable producers, such as PhosAgro and EuroChem in Russia, operate both open-pit and underground mines in various igneous complexes.

First Phosphate Corp. has completed significant drilling at its Bégin-Lamarche property, demonstrating promising potential for open-pit mining operations given the presence of phosphate layers in drilled areas.

For more information on First Phosphate’s assets and projects, please visit the company’s website.

First Phosphate Corp. is committed to extracting and purifying phosphate for LFP battery production, with a focus on high purity and responsible practices. The company aims to establish a secure supply chain for North American LFP battery producers.

The Company has issued Restricted Share Units (“RSUs”) to consultants and settled a debt through the issuance of Common Shares. All securities issued are subject to a holding period.

Qualified Person: Gilles Laverdière, P.Geo. Chief Geologist of First Phosphate and a Qualified Person under National Instrument 43-101.

About First Phosphate Corp.: First Phosphate Corp. is a mineral development company dedicated to providing high-quality phosphate for LFP battery production. The company holds extensive land claims in Quebec and aims to establish a vertically integrated supply chain for North American LFP battery producers.

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Forward-Looking Information and Cautionary Statements: The company cautions that forward-looking statements are subject to various risks and uncertainties, and actual results may differ from projections. Investors should carefully consider all factors and assumptions when evaluating forward-looking information. The company’s filings with securities authorities provide additional risk factors for consideration.

To view the original press release, visit: Newsfile Corp. Release