Junior miner First Phosphate Corp., Saguenay, Quebec, on March 4 announced that it has received a C$315,236 mining research and innovation grant from the Quebec Ministry of Natural Resources and Forestry. The grant provides financial support to continue the mineralogical study on its apatite, ilmenite, and magnetite concentrates. The project also includes the processing of the company’s mine tailings for reuse in the cement construction industry.
“We are grateful to the Quebec Ministry of Natural Resources and Forests for this funding as we continue to build strong relationships with Quebec-based government bodies and institutions,” said First Phosphate CEO John Passalacqua.
The company’s objective is to see the development of a lithium iron phosphate (LFP) battery valley in the Saguenay-Lac-Saint-Jean region of Quebec, one which can service demand for LFP battery cathode active material across North America.
First Phosphate also reported that it has commenced a twelve-month marketing agreement with British Columbia-based NAI Interactive Ltd. Cash consideration, which is being paid up front, is $37,500+HST. The marketing agreement started on March 4.
The company reported that NAI does not currently hold any common shares in First Phosphate and will not receive any options to purchase securities of the company. It said NAI and the company are unrelated and unaffiliated entities.