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First Phosphate advances Quebec project with strong drilling, funding, and feasibility study on track

Market News
01 Apr 2026
Proactive Investors
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Bullish
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First Phosphate Corp. is progressing well on its Bégin-Lamarche phosphate project in Quebec, highlighted by an expanded 40,000-metre drill program confirming mineral continuity and new intercepts. The company secured up to C$16.7 million in non-repayable government funding and a binding offtake agreement with prepayment, boosting its total funding to about C$36-38 million. These developments support an updated geological model and a planned feasibility study completion by Q4 2026, with permitting expected in early 2027 and production potentially starting in 2029. Noble Capital Markets maintains an "Outperform" rating, citing strong geology, financial backing, and alignment with critical minerals strategies for the lithium iron phosphate battery market.

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