REG - Firering Strategic - Completion of initial RC drilling campaign at Atex

Firering Strategic MineralsAnnouncement

05/03/2024 07:00

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RNS Number : 5299F  Firering Strategic Minerals PLC  05 March 2024

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

 

5 March 2024

Firering Strategic Minerals Plc

 ("Firering" or the "Company")

Completion of initial RC drilling campaign at Atex

Firering, an exploration company focusing on critical minerals, is pleased to
announce that it has completed its 3,000m Reverse Circulation ("RC") drilling
campaign at Atex, its flagship lithium project in Côte d'Ivoire.

Highlights

·    23 RC holes drilled for a total of 3,753 metres.

·    all samples have now been sent to Intertek for assaying and results
are expected in the coming weeks

Yuval Cohen, Chief Executive Officer of Firering, said:

"I am pleased to announce the completion of our initial RC drilling campaign
at Atex.  A total of 23 holes were drilled for a total meterage of 3,753m.
All samples were sent to Intertek for assaying and we look forward to report
the results in the coming weeks."

 

Completion of initial RC drilling campaign

A total of 23 holes were drilled (refer Figure 1) for a total of 3,753m of
drilling, giving an average hole depth of 163.2m.  All RC holes were logged
and sampled at 1m intervals.  All fresh pegmatite samples were sent to
Intertek Laboratories in Côte d'Ivoire for sample preparation, after which
the prepared samples were sent to Intertek Laboratories in Australia for
assaying. Assay results are expected in the coming weeks.

 

Figure 1: Plan view of the completed 2022 DD holes and 2024 RC holes

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.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK
VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH
LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED.  ON
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

*** ENDS ***

 

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

 

 Firering Strategic Minerals                     Tel: +44 20 7236 1177

 Yuval Cohen

 Vassilios Carellas

 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

 Joint Broker

 Christian Dennis / Daniel Ingram

 Shard Capital Partners LLP                      Tel : +44 207 186 9950

 Joint Broker

 Damon Heath/ Erik Woolgar

                                                 T: +44 20 7236 1177

 St Brides Partners Limited                      E: firering (mailto:firering@stbridespartners.co.uk) @stbridespartners.co.uk

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

 Ana Ribeiro / Susie Geliher / Isabelle Morris

 

 

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 strategic minerals in
Côte d'Ivoire, specifically 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's main focus is to advance development at Atex with a
view to establishing a maiden lithium resource and then progressing a Lithium
project through to DFS.  Firering is also assessing pilot scale production of
ethically sourced tantalum and niobium to generate early revenues and support
further exploration work.  Should pilot production be successful, a
large-scale tantalum production facility may be developed, 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.  Firering also has an option to acquire up to 28.33% of Limeco
Resources Limited which is commissioning a lime plant in Zambia.

 

Forward-Looking Statements

This announcement may contain some references to forecasts, estimates,
assumptions and other forward-looking statements. Although the Company
believes that its expectations, estimates and forecast outcomes are based on
reasonable assumptions, it can give no assurance that they will be achieved.
They may be affected by a variety of variables and changes in underlying
assumptions that are subject to risk factors associated with the nature of the
business, which could cause actual results to differ materially from those
expressed herein.

 

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