Northwire Canada EditionSaturday, November 7, 2026
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Drill Results Routine +

First Lithium Reports up to 1,300 mg/L Lithium in Brine Samples at Ascotan Project

High-grade brine assays at Ascotan fuel next phase of Chilean lithium exploration, funded by recent capital raise.

By The Northwire Desk — AI Analysis Jun 09, 2026 · 06:01 FLM · 0.1 First Lithium Minerals Corp.
Executive Summary
  • First Lithium Minerals reported results from a March 2026 sedimentary brine geochemical exploration program at its Ascotan project in Chile.
  • The program drilled 40 exploratory wells, with 20 successfully intersecting a shallow brine table for sampling.
  • Lithium concentrations ranged from 93.5 mg/L to 1,299.5 mg/L, with samples SAL-16 through SAL-20 exceeding 1,000 mg/L Li.
  • Preliminary hydrogeological models indicate a brine signature beginning ~200 meters below the surface, extending up to 400 meters wide, and reaching consolidated bedrock at ~600 meters depth.
  • Brines are hypersaline and enriched in lithium, potassium, and boron, with moderate Mg/Li ratios of 8-10.
  • The company plans a 1,500-meter drilling program in H2 2026, pending capital access and regulatory/community approvals.
Material Impact
  • The discovery of lithium concentrations up to ~1,300 mg/L in shallow sediments is a strong positive indicator for the Ascotan project's potential.
  • The moderate Mg/Li ratio (8-10) is favorable for downstream processing economics compared to higher-ratio brines.
  • The announcement confirms the existence of a viable hydrogeochemical system, justifying the planned expansion to a 1,500-meter drilling program.
  • However, as an exploration-stage update, it does not yet define a mineral resource or reserve, nor does it provide immediate cash flow or production timelines.
  • The news serves as a validation of the geological model rather than a transformative commercial milestone.
FLM · Price
Company Overview
  • First Lithium Minerals Corp. is an exploration-stage mining company focused on two primary assets: the Ascotan Lithium Project in Chile and the Lidstone Gold Project in Ontario, Canada.
  • The Ascotan project involves sedimentary brine exploration, with recent assays highlighting high lithium concentrations and favorable chemical profiles.
  • The Lidstone project covers approximately 16,238 hectares in a greenstone belt, with recent grab samples returning up to 2.34 g/t Au, prompting claim expansions and planned drilling.
  • The company operates in a capital-intensive exploration phase, relying on equity financings to fund field work, drilling, and corporate operations.
Read the original news release →

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Drill Results