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REG - Firering Strategic - Auger Results Identifies LCT Mineralisation

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RNS Number : 0369I  Firering Strategic Minerals PLC  12 April 2022

Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining

 

12 April 2022

 

Firering Strategic Minerals plc

("Firering" or "the Company")

Auger Drilling Results Identifies Potential Lithium-Cesium-Tantalum
Mineralisation

 

Firering, an exploration company focusing on critical minerals, announces that
it has received all assay results from its auger drilling programme at its
flagship Atex dual Lithium-Tantalum Project ("Atex"), in Côte d'Ivoire, which
support the presence of pegmatite mineralisation.

 

Highlights:

·    Auger results from Intertek Australia validate recent interpretation
of the strike extent of the pegmatites at Atex Project.

·    Auger sampling results reported for 268 holes, 15 auger lines 100m
apart with 20m hole spacing along the lines, has identified areas of interest
related to potential lithium-cesium-tantalum (LCT) pegmatite mineralisation to
the south-west of Spodumene Hill and some narrower zones to the north-east.

·    Extensions to auger lines are required to properly delineate the size
and extent of these anomalous zones to the south-west and west of current
auger coverage. The Company plans to follow-up this work by drill testing
these targets following some additional work.

 

Elevated tantalum in auger holes (>20ppm Ta) to the south-west and
immediately north-east of Spodumene Hill have provided targets for follow-up
pitting for potential eluvial/colluvial tantalum mineralisation. More detailed
work is required around other point anomalies further northeast. A total of
296 auger holes have been reported (which includes 268 unique locations, 28
redrills); 15 auger lines, 100m apart with 20m hole spacing along the lines
(see accompanying map and tables:
http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf) . The
auger samples were prepared by Intertek in Yamoussoukro, Côte d'Ivoire and
sent to Intertek in Perth, Australia, and assayed by 4-acid digest with ICP/MS
finish.

 

End of Hole ("EOH") data for Cs, Li, Nb, Rb, Sn and Ta were selected as
elements of interest to define potential anomalous zones associated with LCT
pegmatites and provided the necessary resolution of the bedrock geology.
Results are supported by the observations made during the work regarding the
location of the pegmatites as delineated and presented in previous
announcements dated 13 January 2022 and 10 February 2022.

 

Each of the elements reported in the EOH auger samples were ranked and scored
according to percentiles as follows: 0-25; 25-50; 50-75; 75-95 and >95.
Final scores were then plotted as per the accompanying map to define the areas
of interest
http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf) . The
two anomalous areas to NNE and SSW of Spodumene Hill are contiguous with
Spodumene Hill.  The K/Cs and K/Rb ratios for the EOH auger data is
consistent with the target areas interpreted from the "Scored results" but
also identified a small area of interest on the NE end of the auger grid
http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/0369I_1-2022-4-11.pdf) .

 

In addition, all samples in the auger holes with tantalum values >20ppm and
>50ppm Ta were plotted and used to define areas of interest for follow-up
work on the eluvial/colluvial tantalum potential.

 

Competent Person:

In accordance with the AIM Note for Mining and Oil and Gas Companies, Firering
discloses that Michael Cronwright of CSA Global is the Competent Person that
has reviewed the technical information contained in this document. Michael
Cronwright has a Pr.Sci.Nat with the South African Council for Natural
Scientific Professions ("SACNASP") and is a member in good standing with
SACNASP. Mr Cronwright has the appropriate relevant qualifications,
experience, competence and independence to act as a Competent Person as
defined in the 2012 Edition of the "Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Michael Cronwright
consents to the inclusion of the information in this announcement in the form
and context in which it appears.

 

Yuval Cohen, CEO of Firering, said:

"We are extremely pleased with this first set of auger results, which as
expected, confirms the presence of the mapped lithium pegmatites recorded
during our previous regional mapping. The results have identified three areas
of interest that will be the focus of further exploration work together with
the Li core drilling programme that will commence in Q2 2022.

 

"With lithium prices dramatically increasing and demand fuelled by the Net
Zero transition to clean energy and electric vehicles, we are confident that
Atex has the potential to be a significant lithium resource in West Africa -
ideally positioned to supply battery grade lithium to global markets."

 

*** ENDS ***

 

For further information and updates on Firering's exploration programme, visit
www.fireringplc.com or contact the following:

 

 Firering Strategic Minerals                 Tel: +44 20 7236 1177

 Yuval Cohen

 Tim Daniel
 SPARK Advisory Partners Limited             Tel: +44 20 3368 3550

 Nominated Adviser

 Neil Baldwin / James Keeshan / Adam Dawes
 Optiva Securities Limited                   Tel: +44 20 3137 1903

 Broker

 Christian Dennis / Jeremy King
 St Brides Partners Limited                  T: +44 20 7236 1177

 Financial PR                                E: firering (mailto:firering@stbridespartners.co.uk) @stbridespartners.co.uk

                                           (mailto:firering@stbridespartners.co.uk)
 Oonagh Reidy / Ana Ribeiro

 

Notes to Editors:

 

Firering Strategic Minerals

Firering Strategic Minerals plc is an AIM-quoted mining company focused on
exploring and developing a portfolio of mines producing critical minerals in
the Côte d'Ivoire including lithium and tantalum to support the global
transition to net zero emissions. It operates the Atex Lithium-Tantalum
Project in northern Côte d'Ivoire, which is prospective for both lithium and
tantalum.  Firering intends to advance development at Atex with a view to
establishing a maiden lithium resource and a pilot scale production of ethical
tantalum and niobium production within 18 months to generate early revenues
and support further exploration work.  A large-scale tantalum production
facility will be developed following pilot results, which will be supported by
a debt facility of FCFA 5,057,000,000 (approximately €7,500,000) currently
under negotiation to fund the entire scale-up plan to develop a portfolio of
ethically sourced mineral projects in the Côte d'Ivoire, supplying EV
batteries, high tech electronics and other fast-growing end markets. The
Company also recently a 100% interest in the Toura nickel-cobalt licence
application located in western Côte d'Ivoire, adding to its asset portfolio
of critical minerals.

 

JORC TABLE 1

 

 Section 1 Sampling Techniques and Data

 (Criteria in this section apply to all succeeding sections)

 

 Criteria                                                 JORC Code explanation                                                            Commentary
 Sampling techniques                                      ·    Nature and quality of sampling (e.g. cut channels, random chips, or         ·    Uncased auger drilling was used to collect soil samples. All holes
                                                          specific specialised industry standard measurement tools appropriate to the      were drilled to refusal.
                                                          minerals under investigation, such as down hole gamma sondes, or handheld XRF

                                                          instruments, etc). These examples should not be taken as limiting the broad      ·    Each site was cleared of debris and plant material prior to drilling
                                                          meaning of sampling.                                                             and levelled.

                                                          ·    Include reference to measures taken to ensure sample representivity         ·    Holes that failed to progress beyond 2m were redrilled to mitigate
                                                          and the appropriate calibration of any measurement tools or systems used.        the eventuality a hole encountered a boulder and to ensure that the maximum

                                                                                depth could be reached to collect a suitable sample from as close to the
                                                          ·    Aspects of the determination of mineralisation that are Material to         bedrock as possible. A total of 296 holes comprising 268 unique positions and
                                                          the Public Report.                                                               28 redrills due to refusal at <2m.

                                                          ·    In cases where 'industry standard' work has been done this would be         ·    Holes varied between 1m and 12m in depth. The samples were collected
                                                          relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m     at 1m intervals, weighing approximately 10kg.
                                                          samples from which 3 kg was pulverised to produce a 30 g charge for fire

                                                          assay'). In other cases more explanation may be required, such as where there    ·    The samples were then riffle split to produce a nominal 5kg
                                                          is coarse gold that has inherent sampling problems. Unusual commodities or       subsample. Any oversize material was coned and quartered and added to the
                                                          mineralisation types (e.g. submarine nodules) may warrant disclosure of          primary sample and reject sample bags. Additional splitting was conducted on
                                                          detailed information.                                                            samples >5kg.

                                                                                                                                           ·    The primary focus of this sampling was to determine possible
                                                                                                                                           northeast and southwest extension of the pegmatite(s) exposed at Spodumene
                                                                                                                                           Hill.
 Drilling techniques                                      ·    Drill type (e.g. core, reverse circulation, open-hole hammer, rotary        ·    Uncased auger drilling was used to collect samples at 1m intervals.
                                                          air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple

                                                          or standard tube, depth of diamond tails, face-sampling bit or other type,       ·    The drilling was conducted by Royal Mining LTD, a company based in
                                                          whether core is oriented and if so, by what method, etc).                        Abidjan using 2x Drilling Equipment Plant  manufactured rigs and towed by a
                                                                                                                                           Jiang Fa 2500 tractor. The rigs total depth capability was 16.5m.

                                                                                                                                           ·    All holes were drilled vertically.
 Drill sample recovery                                    ·    Method of recording and assessing core and chip sample recoveries and       ·    1723 auger soil samples were collected weighing between 1.6kg and
                                                          results assessed.                                                                5kg, averaging 4.8kg.

                                                          ·    Measures taken to maximise sample recovery and ensure representative        ·    Sample recoveries are considered suitably representative for the
                                                          nature of the samples.                                                           purposes of target generation.

                                                          ·    Whether a relationship exists between sample recovery and grade and
                                                          whether sample bias may have occurred due to preferential loss/gain of
                                                          fine/coarse material.
 Logging                                                  ·    Whether core and chip samples have been geologically and                    ·    All the auger holes were geologically logged at 1m sample intervals.
                                                          geotechnically logged to a level of detail to support appropriate Mineral

                                                          Resource estimation, mining studies and metallurgical studies.                   ·    All samples were photographed.

                                                          ·    Whether logging is qualitative or quantitative in nature. Core (or
                                                          costean, channel, etc) photography.

                                                          ·    The total length and percentage of the relevant intersections logged.
 Sub-sampling techniques and sample preparation           ·    If core, whether cut or sawn and whether quarter, half or all core          ·    The 1m samples were riffle split on site to obtain a nominal 5kg
                                                          taken.                                                                           subsample. A 5kg duplicate sample was also prepared for each sample from the

                                                                                reject material and has been retained on site. If necessary, the samples were
                                                          ·    If non-core, whether riffled, tube sampled, rotary split, etc and           laid out on bags and sun dried and de-clumped prior to riffle splitting.
                                                          whether sampled wet or dry.

                                                                                ·    At the end of the first riffle, samples in both pans of the splitter
                                                          ·    For all sample types, the nature, quality and appropriateness of the        are poured into a large, labelled, plastic bag and mixed in the bag by
                                                          sample preparation technique.                                                    shaking. After mixing, the sample is again riffle split by pouring from the

                                                                                bag into the riffle. This procedure is repeated a second time to thoroughly
                                                          ·    Quality control procedures adopted for all sub-sampling stages to           mix the sample and minimise possible bias in the splitting process.
                                                          maximise representivity of samples.

                                                                                ·    The primary samples were submitted to Intertek in Yamoussoukro for
                                                          ·    Measures taken to ensure that the sampling is representative of the         sample preparation.
                                                          in situ material collected, including for instance results for field

                                                          duplicate/second-half sampling.                                                  ·    At Intertek the samples were dried in trays, crushed entirely to a

                                                                                nominal 2 mm using a Jaw Crusher. The entire sample was then pulverized in a
                                                          ·    Whether sample sizes are appropriate to the grain size of the               LM2 mill to a nominal 85% passing 75μm. Approximately 100g sub-sample was
                                                          material being sampled.                                                          taken for assay with the remaining sample returned to a plastic bag if the
                                                                                                                                           original is not suitable. All preparation equipment was flushed with barren
                                                                                                                                           material prior to the commencement of the batches and between every 10
                                                                                                                                           samples.

                                                                                                                                           ·    The auger soil samples are considered suitable for identifying
                                                                                                                                           exploration targets.
 Quality of assay data and laboratory tests               ·    The nature, quality and appropriateness of the assaying and                 ·    The sample pulps were couriered to Intertek in Perth for assay using
                                                          laboratory procedures used and whether the technique is considered partial or    a 4 acid digest followed by an ICP-MS assay. Method code 4A/MS48. The samples
                                                          total.                                                                           were assayed for 48 elements including Cs, K, Li, Ta, Nb, Rb and Sn.

                                                          ·    For geophysical tools, spectrometers, handheld XRF instruments, etc,        ·    4 acid digest results in the near complete digestion of the sample
                                                          the parameters used in determining the analysis including instrument make and    and is suitable for many refractory, difficult-to-dissolve minerals. 4-acid
                                                          model, reading times, calibrations factors applied and their derivation, etc.    digest also provides for a more-complete digestion of some silicate mineral

                                                                                species and is considered to provide reliable determinations of elements
                                                          ·    Nature of quality control procedures adopted (e.g. standards, blanks,       associated with LCT pegmatites and associated mineralisation.
                                                          duplicates, external laboratory checks) and whether acceptable levels of

                                                          accuracy (i.e. lack of bias) and precision have been established.                ·    QAQC samples comprising blanks (glass bottles) and certified
                                                                                                                                           reference materials sourced from OREAS and Geostats in Australia were inserted
                                                                                                                                           into the sample batches. In addition, the laboratory (Intertek) incorporated
                                                                                                                                           its own internal QAQC procedures to monitor its assay results prior to release
                                                                                                                                           of results to Firering.

                                                                                                                                           ·    The Competent Person is satisfied that the results of the QAQC are
                                                                                                                                           acceptable and that the assay data from Intertek are suitable for the
                                                                                                                                           reporting of exploration results.

                                                                                                                                           ·    Geophysical instruments were not used in assessing the
                                                                                                                                           mineralisation.
 Verification of sampling and assaying                    ·    The verification of significant intersections by either independent         ·    No verification sampling was done.
                                                          or alternative company personnel.

                                                                                ·    The auger logging and sampling data were captured onto paper logs and
                                                          ·    The use of twinned holes.                                                   transferred into an Excel spreadsheets that were imported into a SQL database

                                                                                managed by CSA Global.
                                                          ·    Documentation of primary data, data entry procedures, data

                                                          verification, data storage (physical and electronic) protocols.                  ·    The field programme was managed by SEMS-Exploration (Cote d'Ivoire).

                                                          ·    Discuss any adjustment to assay data.                                       ·    All hole locations were recorded on a handheld GPS. The information
                                                                                                                                           was then transferred to the logging Excel spreadsheets.

                                                                                                                                           ·    All data is stored locally on a laptop computer and also backed-up
                                                                                                                                           onto the cloud.

                                                                                                                                           ·    The assay data has not been adjusted.
 Location of data points                                  ·    Accuracy and quality of surveys used to locate drill holes (collar          ·    The auger hole locations were recorded using a handheld GPS device.
                                                          and down-hole surveys), trenches, mine workings and other locations used in

                                                          Mineral Resource estimation.                                                     ·    Coordinates are relative to WGS84 UTM zone 29P.

                                                          ·    Specification of the grid system used.                                      ·    The locations are considered suitably accurate for the purpose of

                                                                                reporting exploration results.
                                                          ·    Quality and adequacy of topographic control.

                                                                                                                                           ·    The results will not be used in any Mineral Resource estimation.
 Data spacing and distribution                            ·    Data spacing for reporting of Exploration Results.                          ·    Auger lines were laid out along a northeast-southwest pattern with

                                                                                lines spaced 100 m apart. Station spacing along the lines orientated in a
                                                          ·    Whether the data spacing and distribution is sufficient to establish        northwest-southeast direction is 20m.
                                                          the degree of geological and grade continuity appropriate for the Mineral

                                                          Resource and Ore Reserve estimation procedure(s) and classifications applied.    ·    The spacing is considered suitable to determine targets for follow-up

                                                                                work. Areas for follow-up soil sample have also been identified based on gaps
                                                          ·    Whether sample compositing has been applied.                                identified in the data.

                                                                                                                                           ·    No sample compositing was done.
 Orientation of data in relation to geological structure  ·    Whether the orientation of sampling achieves unbiased sampling of           ·    Individual auger lines were orientated northwest-southeast
                                                          possible structures and the extent to which this is known, considering the       (perpendicular to the inferred orientation of the pegmatite at Spodumene Hill)
                                                          deposit type.                                                                    and lines spaced at 100m along a northeast-southwest orientation.

                                                          ·    If the relationship between the drilling orientation and the                ·    The grid was designed to determine potential strike extents to the
                                                          orientation of key mineralised structures is considered to have introduced a     northeast-southwest striking Spodumene Hill pegmatite.
                                                          sampling bias, this should be assessed and reported if material.

                                                                                                                                           ·    The results will not be used in any Mineral Resource estimation.
 Sample security                                          ·    The measures taken to ensure sample security.                               ·    All samples were collected, labelled and bagged on site by the
                                                                                                                                           SEMS-Exploration team. At the end of each day the samples were placed in large
                                                                                                                                           plastic bags and large plastic labelled bags. Each bag usually contained
                                                                                                                                           samples from one hole.

                                                                                                                                           ·    Samples were then secured and stored at Firering's office in Touvre.

                                                                                                                                           ·    The sample batches were collected from Touvre by Intertek
                                                                                                                                           Yamoussoukro.

                                                                                                                                           ·    The sample lists were submitted to Intertek electronically and
                                                                                                                                           checked by Intertek against what was received.

                                                                                                                                           ·    Once the samples had been prepared Intertek Yamoussoukro couriered
                                                                                                                                           the sample pulps to Intertek Perth for assay.
 Audits or reviews                                        ·    The results of any audits or reviews of sampling techniques and data.       ·    The auger sampling technique was reviewed by the Mr John Coates of
                                                                                                                                           SEMS-Exploration and the Competent Person during the site visit in January
                                                                                                                                           2022.

                                                                                                                                           ·    Discussions were also held with key technical staff from
                                                                                                                                           SEMS-Exploration regarding the geology, sampling and data capture they
                                                                                                                                           conducted.

                                                                                                                                           ·    The Competent Person considers that the exploration work conducted to
                                                                                                                                           date is using appropriate techniques for the style of mineralisation and is
                                                                                                                                           suitable for the reporting of the exploration results.

 

 

 

 

 

 Section 2 Reporting of Exploration Results

 (Criteria listed in the previous section also apply to this section)

 

 Criteria                                                          JORC Code explanation                                                            Commentary
 Mineral tenement and land tenure status                           ·    Type, reference name/number, location and ownership including               ·    The Atex exploration permit was issued as PR-777 on 6 December 2017
                                                                   agreements or material issues with third parties such as joint ventures,         to Atex Mining Resources and was valid for 4 years, expiring in December 2021.
                                                                   partnerships, overriding royalties, native title interests, historical sites,    In March 2021, Firering Holdings acquired 51% of Atex Mining and has an option
                                                                   wilderness or national park and environmental settings.                          to acquire an additional 39%.

                                                                   ·    The security of the tenure held at the time of reporting along with         ·    PR-777 has been renewed for an additional three years for Li,
                                                                   any known impediments to obtaining a licence to operate in the area.             expiring on 5 December 2024. The Mining Code of Ivory Coast allows for the
                                                                                                                                                    adding of other commodities, e.g. Ta and Au when found during exploration
                                                                                                                                                    activities.
 Exploration done by other parties                                 ·    Acknowledgment and appraisal of exploration by other parties.               ·    Within PR-777 limited exploration work comprising geological mapping
                                                                                                                                                    and prospecting focussed on the eluvial, alluvial and pegmatite hosted
                                                                                                                                                    columbo-tantalite mineralisation was done between 1953 and 1963. This work
                                                                                                                                                    identified the area to have "good" potential for columbo-tantalite
                                                                                                                                                    mineralisation as well some evidence of placer gold mineralisation around
                                                                                                                                                    Touvre.

                                                                                                                                                    ·    Adam (1966) conducted the systematic exploration in the area on
                                                                                                                                                    behalf of SODEMI from 1965-1966. His work comprised non-systematic and
                                                                                                                                                    systematic pitting, mapping, rock chip and mineral concentrate sampling. The
                                                                                                                                                    work identified a number of areas with potentially economic columbo-tantalite
                                                                                                                                                    mineralisation as well as the spodumene-lepidolite bearing pegmatite(s) around
                                                                                                                                                    Spodumene Hill. His mapping also recognised 5 types of pegmatites in the area,
                                                                                                                                                    namely:

                                                                                                                                                    lepidolite, muscovite, spodumene, columbo-tantalite type;

                                                                                                                                                    green muscovite, columbo-tantalite type;

                                                                                                                                                    green muscovite and beryl type;

                                                                                                                                                    muscovite, beryl type; and

                                                                                                                                                    biotite, magnetite type.

                                                                                                                                                    ·    More recently, the permit was covered by a larger licence held by
                                                                                                                                                    Perseus Mining Limited who were exploring for gold within the region. The
                                                                                                                                                    results of this exploration are unknown.

                                                                                                                                                    ·    It is understood that they conducted airborne geophysical (magnetic
                                                                                                                                                    and radiometric) surveys over the area.

                                                                                                                                                    ·    The most recent exploration conducted has been by Atex Mining
                                                                                                                                                    Resources who conducted limited mapping and rock chip sampling focussed on the
                                                                                                                                                    lithium potential of the licence and confirmed the presence of spodumene and
                                                                                                                                                    lepidolite mineralisation in the area around Spodumene Hill.
 Geology                                                           ·    Deposit type, geological setting and style of mineralisation.               ·    The Atex Project occurs in the western limit of the Bagoé Basin
                                                                                                                                                    within Baoulé-Mossi domain of the West African Craton (WAC). The WAC
                                                                                                                                                    comprises Archaean basement material and the surrounding Proterozoic
                                                                                                                                                    granite-greenstone terranes (termed the Birimian or Birimian Supergroup). The
                                                                                                                                                    Birimian rocks are synchronous with the Eburnean orogeny. The Baoulé-Mossi
                                                                                                                                                    domain comprises a number of north-northeast to south-southwest to north-south
                                                                                                                                                    arcuate belts that stretch hundreds of kilometres and are host to multiple
                                                                                                                                                    gold, base metal, and pegmatite-hosted columbo-tantalite and lithium deposits
                                                                                                                                                    that are spatially and temporally related to the Eburnean orogeny that took
                                                                                                                                                    place between 2,250 and 1,980 Ma.

                                                                                                                                                    ·    The geology of the Project area us underlain by Birimian
                                                                                                                                                    metavolcanics and Eburnian-aged granitoid intrusions, including undeformed,
                                                                                                                                                    late stage potassic granites considered to be genetically related to the
                                                                                                                                                    pegmatites.

                                                                                                                                                    ·    Historical work within the permit area has identified a number of
                                                                                                                                                    pegmatite types within the licence area, including pegmatites, which are
                                                                                                                                                    prospective for lithium and columbo-tantalite mineralisation. The exploration
                                                                                                                                                    work by Adam (1966) also identified surficial columbo-tantalite mineralisation
                                                                                                                                                    associated with the pegmatites and weathering thereof.

                                                                                                                                                    ·    Recently, several companies have demonstrated the potential for
                                                                                                                                                    pegmatite-hosted lithium mineralisation in the region. These include Atlantic
                                                                                                                                                    Lithium (previously IronRidge Resources) who have developed the Ewoyaa Lithium
                                                                                                                                                    Project in Ghana, Firefinch (previously Mali Lithium) and their Goulamina
                                                                                                                                                    project and Kodal Minerals with their Bougouni project both in southern Mali.

                                                                                                                                                    ·    The pegmatites within the Atex permit belong to the LCT-Rare Element
                                                                                                                                                    group of pegmatites and includes the LCT spodumene-lepidolite bearing
                                                                                                                                                    pegmatite at Spodumene Hill and muscovite-columbo-tantalite type pegmatites.

                                                                                                                                                    ·    The area is also considered moderately prospective for orogenic
                                                                                                                                                    Birimian gold mineralisation based on the local geology and proximity to a
                                                                                                                                                    number of gold deposits in the broader region. Historical exploration in the
                                                                                                                                                    1960s also noted a small "placer" gold deposit close to Touvre.
 Drill hole Information                                            ·    A summary of all information material to the understanding of the           ·   All auger hole location data is provided in the accompanying
                                                                   exploration results including a tabulation of the following information for      documentation.
                                                                   all Material drill holes:

                                                                   o  easting and northing of the drill hole collar

                                                                   o  elevation or RL (Reduced Level - elevation above sea level in metres) of
                                                                   the drill hole collar

                                                                   o  dip and azimuth of the hole

                                                                   o  down hole length and interception depth

                                                                   o  hole length.

                                                                   ·    If the exclusion of this information is justified on the basis that
                                                                   the information is not Material and this exclusion does not detract from the
                                                                   understanding of the report, the Competent Person should clearly explain why
                                                                   this is the case.
 Data aggregation methods                                          ·    In reporting Exploration Results, weighting averaging techniques,           ·   Results plotted and interpreted are based on the end of hole auger
                                                                   maximum and/or minimum grade truncations (e.g. cutting of high grades) and       sample.
                                                                   cut-off grades are usually Material and should be stated.

                                                                                ·   All sample results for selected elements of interest are provided in
                                                                   ·    Where aggregate intercepts incorporate short lengths of high grade          the accompanying documentation. The elements of interest include Cs, Li, Nb,
                                                                   results and longer lengths of low grade results, the procedure used for such     Rb, Sn and Ta.
                                                                   aggregation should be stated and some typical examples of such aggregations

                                                                   should be shown in detail.                                                       ·   Each of the elements reported in the end of hole auger samples were

                                                                                ranked and scored according to percentiles as follows: 0-25; 25-50; 50-75;
                                                                   ·    The assumptions used for any reporting of metal equivalent values           75-95 and >95. Final scores were then plotted as per the accompanying map
                                                                   should be clearly stated.                                                        to define the areas of interest.

                                                                                                                                                    ·   All samples in the auger holes with tantalum values >20ppm and
                                                                                                                                                    >50ppm Ta where also plotted and used to define areas of interest for
                                                                                                                                                    follow-up work on the eluvial/colluvial tantalum potential.

                                                                                                                                                    ·   No other data aggregation or metal equivalents have been reported.
 Relationship between mineralisation widths and intercept lengths  ·    These relationships are particularly important in the reporting of          ·   Not applicable.
                                                                   Exploration Results.

                                                                   ·    If the geometry of the mineralisation with respect to the drill hole
                                                                   angle is known, its nature should be reported.

                                                                   ·    If it is not known and only the down hole lengths are reported, there
                                                                   should be a clear statement to this effect (e.g. 'down hole length, true width
                                                                   not known').
 Diagrams                                                          ·    Appropriate maps and sections (with scales) and tabulations of              ·   Relevant maps are presented in the accompanying documentation.
                                                                   intercepts should be included for any significant discovery being reported
                                                                   These should include, but not be limited to a plan view of drill hole collar
                                                                   locations and appropriate sectional views.
 Balanced reporting                                                ·    Where comprehensive reporting of all Exploration Results is not             ·   The reported exploration results from the Atex project are related to
                                                                   practicable, representative reporting of both low and high grades and/or         the auger drilling sample assays reported to date.
                                                                   widths should be practiced to avoid misleading reporting of Exploration
                                                                   Results.
 Other substantive exploration data                                ·    Other exploration data, if meaningful and material, should be               ·   No applicable.
                                                                   reported including (but not limited to): geological observations; geophysical
                                                                   survey results; geochemical survey results; bulk samples - size and method of
                                                                   treatment; metallurgical test results; bulk density, groundwater, geotechnical
                                                                   and rock characteristics; potential deleterious or contaminating substances.
 Further work                                                      ·    The nature and scale of planned further work (e.g. tests for lateral        ·   Additional soil sampling is planned to cover areas to the southwest of
                                                                   extensions or depth extensions or large-scale step-out drilling).                the current auger lines. A number of extensions to existing auger lines were

                                                                                drilled and prepared samples were sent to Intertek in Perth for 4-acid digest
                                                                   ·    Diagrams clearly highlighting the areas of possible extensions,             assay.
                                                                   including the main geological interpretations and future drilling areas,

                                                                   provided this information is not commercially sensitive.                         ·   This work will be used to plan and refined the drilling planned by the
                                                                                                                                                    Company.

                                                                                                                                                    ·   Maps are included in the Report.

 

 

 

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