Company: FMST
Filing Date: 2025-06-20
Form Type: 20-F
Source: 0001171843-25-004004
Chunk: 43

Company: Foremost Clean Energy Ltd.
Filing Date: 2025-06-20
Form: 20-F
Item: Item 4
Chunk 43
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 characterized by a variety of lithologies, including graphitic and pyritic pelites, semi-pelites, granites and pegmatites. The structural geology within the property exhibits features typical of the Mudjatik Domain, with Archean granite-gneiss domes surrounded by phyllitic and pelitic metasediments exhibiting significant structural deformation.

It is proximal to the La Rocque Lake Conductive Corridor, which is known for its association with notable uranium mineralization, including established deposits such as the Hurricane and Alligator deposits. This corridor along with the property's configuration suggests the presence of a favorable geological environment for uranium mineralization, indicating a potential for unconformity-related deposits. Hydrothermal alteration features, evidenced by extensive clay alteration and hematite development, have been observed in historical drilling, particularly near the unconformity.

Preliminary drilling campaigns, notably the 2015 program, included drill hole MP-15-03, which intersected a mineralized zone featuring 0.25% U3O8over 6.0 meters, associated with a zone of intense sandstone alteration characterized by silicification and clay alteration above the unconformity. Geophysical surveys conducted on the property, including DC/IP methods, have delineated zones of low resistivity that correlate with prospective hydrothermal alteration zones associated with reactivated basement faults.

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Exploration

The Murphy Lake South Property has had a history of exploration and drilling campaigns that have significantly contributed to understanding its uranium potential. In 2014, a DC/IP survey was conducted, collecting a total of 12.8 kilometers of data along eight survey lines spaced 200 meters apart. This survey identified zones of low resistivity in the sandstone column, interpreted to be associated with significant hydrothermal sandstone alteration linked to reactivated basement faults, delineating prime exploration targets. Following this, in 2015, a diamond drilling program was executed, totaling 1,818 meters across five holes, specifically targeting selected resistivity anomalies along the southern conductive trend. Notably, drill hole MP-15-03 encountered 0.25% U3O8over 6.0 meters, showcasing strong alteration that included silicification and clay alteration, while the remaining four holes also detected significant structures and alteration, which is suggestive of a highly prospective mineralized system.

In 2016, a further drilling program was conducted, comprising approximately 3,700 meters across ten holes, aimed at testing targets along strike from drill hole MP-15