Inspiration Mining to acquire CH-98 phosphate property in Québec
Inspiration Mining has agreed to acquire a 100% interest in the CH-98 phosphate property in Québec’s Lac-Saint-Jean region from Beauce Gold Fields, subject to regulatory approvals. The consideration is 10,000,000 common shares, plus 1,500,000 shares to an arm’s-length finder.
The property covers 111 mining claims, about 6,164 hectares, reached by a gravel road. Beauce Gold Fields previously reported rock samples with up to 8.07% P2O5, and a 1998 Québec government sample reported 8.59%. Preliminary flotation tests produced a concentrate grading up to 38.9% P2O5 at 93.4% recovery under the conditions tested.
The company says those results do not establish average grade, continuity, economic viability or commercial-scale recovery. More mapping, sampling and metallurgical work will be needed.
Phosphorus was added to Canada’s critical minerals list in 2024, and Québec added apatite to its own critical and strategic minerals list the same year. Inspiration says the material could feed fertilizer production or phosphoric acid, and lithium iron phosphate battery materials, but suitability for those uses has not yet been established.
Interest in phosphate supply is not new, and earlier coverage of phosphate prices showed the split in the market.
Questions and answers
A 100% interest in the CH-98 phosphate property in the Lac-Saint-Jean region of Québec, from Beauce Gold Fields. The deal is subject to regulatory approvals and would be paid for in common shares, with a further share payment to an arm’s-length finder.
The property consists of 111 mining claims covering about 6,164 hectares. It is reached by the Lac Froid gravel road and sits near two other phosphate projects in the Saguenay-Lac-Saint-Jean region, according to the release.
Beauce Gold Fields reported a rock sample of up to 8.07% P2O5 from one outcrop, and a 1998 Québec government sample reported 8.59% at the same location. Flotation tests on material from that outcrop produced a concentrate grading up to 38.9% P2O5 at 93.4% recovery under the conditions tested.
No. The release says the samples and metallurgy do not establish average grade, continuity, economic viability or commercial-scale recoverability, and that further mapping, sampling and metallurgical evaluation are needed.
Phosphorus was added to Canada’s Critical Minerals List in 2024, and Québec added apatite to its critical and strategic minerals list the same year. Phosphate is used in fertilizer and can feed phosphoric acid and lithium iron phosphate battery materials, although suitability for those uses still needs testing.
The announcement came from Inspiration Mining Corp., which is listed on the Canadian Securities Exchange and is led by chief executive Charles Desjardins. The release was distributed as a paid press release, so the company wrote the text. Beauce Gold Fields, the seller, is listed on the TSX Venture Exchange.
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