Wednesday, April 01, 2026
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Expanded infill drill program. First Phosphate completed an expanded infill drill program, totaling approximately 40,000 meters, that was launched in October at its Begin-Lamarche property in Saguenay-Lac-St. Jean, Quebec. The drilling program, which was expanded from 30,000 meters of drilling, confirmed continuity of phosphate mineralization across the existing resource horizon and discovered two new mineralized intersects in the Northern and Southern zones.
Updated geological model. The incremental 10,000 meters of drilling was designed to better understand the new intersects and test mineralization at depth in areas across the Northern and Southern zones. The company is processing the full set of drill results from its original and expanded drill program with the goal of updating the geological model in the coming weeks.
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