Impact: Positive
Positive preliminary results from bulk sampling and metallurgical tests at its 8,903-acre Zoro Li project in the Snow Lake district of Manitoba were announced. With 5.93% Li2O and 1.23% Fe2O3 content, results demonstrate that Zoro Dyke 1 is amenable to production. Test work also successfully maximized Li recovery at ~67%. In our view, this was an encouraging first step as a 5.93% Li2O concentrate was created using the cheaper DMS + magnetic separation methods. We believe that future testing should be able to focus more on purification of the spodumene concentrate, namely trying to get the grade up over 6% Li2O and reducing Fe2O3 levels to below 1%. Perhaps reducing grind size or increasing the sensitivity of the magnetic separation circuit would work, but there are always trade-offs as to how far to go. Perhaps Foremost could look at various pegmatite dykes on the property to determine if the others have lower iron content to begin with. While higher iron content should not pose an issue for future hydro or pyro met processing for the ever-growing battery metals industry, it might limit potential buyers from the traditional glass and ceramics industries. With the positive early-stage met testing demonstrating potential to create suitable spodumene concentrate, we believe all eyes will be on expanding resources and making further Li-bearing pegmatite discoveries.
