Episode Details

First Phosphate Corp. CEO John Passalacqua joined Steve Darling from Proactive to discuss a significant milestone for the company following the release of an updated Mineral Resource Estimate (MRE) for its Bégin-Lamarche phosphate project in Quebec. The updated estimate, based on 276 drill holes totaling 68,345 metres, represents a substantial increase in resource size and further strengthens the project’s development potential. Passalacqua highlighted that the revised resource estimate delivered a major increase in the project’s indicated mineral resources, rising by 378% compared with the company’s initial 2024 MRE. The updated pit-constrained indicated mineral resource now stands at 6.2 million tonnes grading 7.70% P₂O₅, containing approximately 478,000 tonnes of phosphate. Additionally, the inferred pit-constrained mineral resource totals 89.5 million tonnes grading 6.16% P₂O₅. Despite the considerable growth in overall resource size, the deposit remains open at depth, leaving room for additional expansion through future exploration programs. The company also provided more insight into the geological characteristics of the Bégin-Lamarche deposit. The phosphate system is comprised of four distinct mineralized zones that appear continuous and maintain strong continuity both in the east-west direction and at depth. The Mountain Zone represents the largest component of the deposit with a diameter of up to 200 metres and a length of approximately 250 metres. The Northern Zone contains four phosphate layers ranging from 30 to 200 metres in thickness and extending for around 625 metres. The Central Zone hosts eight phosphate layers, including one layer reaching thicknesses of up to 50 metres and extending roughly 900 metres. Meanwhile, the Southern Zone features three phosphate-bearing layers, with one reaching up to 125 metres thick and extending over 725 metres. Passalacqua also discussed recent metallurgical testing results, which were conducted by SGS with support from SGS Lakefield in Ontario. Results demonstrated that the company successfully produced an apatite concentrate with approximately 40.4% P₂O₅ and a recovery rate of 88%. These results indicate strong processing potential and reinforce confidence in the deposit’s economic prospects. In addition to the project’s expanding resource profile and encouraging metallurgical results, First Phosphate benefits from a strategic infrastructure advantage. The Bégin-Lamarche project is situated adjacent to existing road and hydroelectric infrastructure and is located just 70 kilometres from the deep-sea Port of Saguenay, positioning the project well for future development and logistics efficiency. #proactiveinvestors #firstphosphatecorp #cse #phos #otcqx #frspf #frspf #BeginLamarche #PhosphateMining #MiningNews #QuebecMining #MineralResources #CriticalMinerals #Exploration #MiningStocks #ResourceExpansion #BatteryMaterials