01:26 PM EDT, 04/02/2024 (MT Newswires) -- First Phosphate ( FRSPF ) on Tuesday highlighted a second set of assay results from the ongoing 25,000-meter drill program at its Begin-Lamarche project in Saguenay-Lac-St-Jean, Quebec.

The company has so far completed a total of 16,435 meters of drilling and assays have now been returned for 5,642 meters since drilling began in February.

From the Phosphate Mountain Zone, the company said Hole BL-24-82 intersected 2 meters of "massive" apatite while other drill holes in this zone continued to yield core results of 30%+ apatite.

Drill hole BL-24-48 intersected 15.01% P2O5 (phosphate) over 7.65 meters from a depth of 36.9 meters, including one assay of 31.24% P2O5 over 1.1 meter.

From the Northern Zone, drill hole BL-24-36 intersected 6.83% P2O5 over 108 meters starting at a depth of 234 meters. Drill hole BL-24-44 intersected 7.48% P2O5 over 90.6 meters starting at a depth of 192.4 meters.

From the Northwestern Zone, drill hole BL-24-49 intersected 8.65% P2O5 over 33 meters from a depth of 72.5 meters. From the Southern Zone, Drill hole BL-24-43 intersected 5.41% P2O5 over 258 meters from a depth of 111 meters.

"Drilling at the Phosphate Mountain Zone continues to deliver phosphate strong mineralization," First Phosphate ( FRSPF ) chief executive John Passalacqua said. "The Mountain and Northern Zones show high-grade phosphate on surface while the Southern Zone shows large tonnage potential over a strike length of 1.5 km."

The company's stock rose 6.4% on last look on Tuesday.

Price: 0.25, Change: +0.02, Percent Change: +6.38