REG - Firering Strategic - Exploration Update: Atex Lithium-Tantalum Project
22/06/2023 07:00
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RNS Number : 5122D Firering Strategic Minerals PLC 22 June 2023
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
22 June 2023
Firering Strategic Minerals plc
("Firering" or "the Company" or "FSM")
Exploration Update from Atex Lithium-Tantalum Project
Auger Drilling Programme Planned on Six High Priority Soil Anomalies
Firering Strategic Minerals plc, an exploration company focusing on critical
minerals, is pleased to report the definition of multiple lithium in soil
anomalies and a planned auger drilling programme following the large-scale
Phase II soil sampling programme at the Atex Lithium-Tantalum Project
("Atex"), in Côte d'Ivoire.
The Phase II Programme was undertaken in conjunction with Ricca Resources
Limited ("Ricca"), an Australian diversified minerals company, which has the
option to earn up to 50% of Atex following its US$18.6 million investment to
advance the project to Definite Feasibility Study ("DFS") announced on 2
November 2022.
HIGHLIGHTS:
· Six high-priority soil anomalies identified from Phase II soil
sampling programme completed across Atex licence area.
· Anomalies based on coincident soil geochemistry with mapped pegmatites
and geological setting defining strong north-easterly orientation broadly
coincident with mapped pegmatites.
· Several lithium in soil anomalies occur adjacent to and along similar
orientations to the Spodumene Hill lithium occurrence where previous drilling
returned significant intersections, including an oblique intersection with an
apparent width of 64m at 1.24% Li2O and 25m at 1.39% Li2O (refer the Company's
notification of 15 November 2022 and 15 December 2022).
· Approximately 11,000m of Phase I auger drilling planned on a nominal
160m x 20m grid perpendicular to the defined soil anomaly trends.
· Pending results of the Phase I auger programme, further auger infill
drilling on a nominal 80m x 20m grid along the defined pegmatite trends
planned to define targets ahead of deeper drilling below the depth of
weathering for mineralisation potential.
Yuval Cohen, Chief Executive of Firering, said: "It brings me great
satisfaction to share with the market the progress resulting from our
collaboration with Ricca, as we witness the realisation of an accelerated
exploration pathway. By harnessing our collective expertise, we will propel
the exploration process forward at an accelerated pace.
"While we are still awaiting the remaining results from the soil sampling
programme, we are confident that we have identified the most crucial soil
anomalies, allowing us to proceed with auger drilling. We eagerly anticipate
commencing the comprehensive auger drilling programme and sharing further
updates on our progress soon."
Stuart Crow, Non-Executive Chairman of Ricca Resources, added:
"The soil sampling and mapping programme has defined multiple target areas for
follow-up auger drilling. We are very pleased with the results and look
forward to commencing the auger drilling to further refine these targets ahead
of deeper drill testing to confirm grade potential.
"Several of the auger anomalies occur adjacent to and along similar trends to
the previously drilled Spodumene Hill lithium occurrence where drilling
returned significant intersections, including 64m at 1.24% Li2O.
"Whilst we are still awaiting results for the remainder of the soils
programme, we are confident the highest priority soil anomalies have been
defined in order to commence auger drilling.
"We look forward to commencing the extensive auger drilling programme,
receiving the remaining results from the soil sampling programme and providing
further updates on our progress in due course."
Soil Anomalies and Auger Programme
Grid soil geochemistry and mapping has identified six high-priority soil
anomalies for auger drilling follow-up on a nominal 160m x 20m grid. Overall,
the soil anomalies define a consistently north-north-east striking orientation
coincident with regional mapping and outcropping pegmatites in the area.
Analysis was completed in-house using portable x-ray fluorescence spectrometry
("pXRF") and Laser Induced Breakdown Spectrometry ("LIBS"). Soil analysis
results are pending for the northern extent of the licence.
Soil targets 1, 2, 3 and 6 typically occur within mafic schists and associated
with dominantly north-north-east striking sub-cropping pegmatite or pegmatite
float. Target 5 occurs within and along the contact of a large granitic
intrusive along the south-western margin of the licence area. Target 4 occurs
in the north of the licence area, within mafic schists and associated with
north-east and north-west striking pegmatites. Soil anomaly levels range from
85 to a maximum of 4,499 ppm lithium ('Li', refer to Figure 1).
Targets 1, 2, 5 and 6 have combined Li, rubidium ('Rb') and niobium ('Nb')
anomalies indicating the presence of fractionated pegmatites. Targets 4 and 3
are Li only anomalies however with mapped pegmatites.
Targets 1, 2, 3 and 6 occur along the same orientation and within the same
apparent pegmatite swarm which hosts the Spodumene Hill lithium occurrence.
Previous drilling at the Spodumene Hill lithium occurrence reported
significant highlights including 64m at 1.24% Li(2)O from 76m in hole
TVDD0004, 25m at 1.39% Li(2)O from 77m in hole TVDD0018 and 7m at 1.33% Li(2)O
from 60m in hole TVDD0019 (refer the Company's notifications of 15 November
2022 and 15 December 2022).
Auger drilling will be used to define the pegmatite footprint through the
weathering profile on a nominal 160m x 20m grid that will be infilled to 80m x
20m as the pegmatite extents are defined. A total of approximately 11,000m of
auger drilling is planned as part of Phase I with subsequent infill on a
nominal 80m x 20m grid for Phase II, dependent on observations (refer Figure
2).
Auger drilling depth is to provide positive identification of rock type, which
is estimated to be in the order of 5-6m depth and an end of hole sample will
be collected for analysis to assist in potential target prioritisation. Once
pegmatite footprints have been defined in auger, the next step is to drill
test them with deeper RC or diamond drilling to confirm whether they are
mineralised below the weathering profile.
Figure 1: Soil anomalies and targets identified.
Figure 2: Planned Phase I auger programme over target areas defined.
- 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 / Daniel Ingram
St Brides Partners Limited T: +44 20 7236 1177
Financial PR E: firering (mailto:firering) @stbridespartners.co.uk
(mailto:firering@stbridespartners.co.uk)
Ana Ribeiro / Susie Geliher / Isabelle Morris
Notes to Editors:
Firering Strategic Mineral
www.fireringplc.com (http://www.fireringplc.com)
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
ethically sourced tantalum and niobium within 18 months to generate early
revenues and support further exploration work. A large-scale Tantalum
production facility may 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.
Competent Person
In accordance with the AIM Note for Mining and Oil and Gas Companies, Firering
discloses that Michael Cronwright of CSA Global (an ERM Group Company) is the
Competent Person that has reviewed the technical information contained in this
document related to the exploration results. 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.
About Ricca Resources
www.riccaresources.com.au (http://www.riccaresources.com.au)
Ricca Resources is an Africa-focused, diversified mineral exploration company
with extensive gold portfolios in prospective Birimian terrains in Côte
d'Ivoire and Liberia, a potential new gold province discovery in Chad and a
strategic partnership to advance a lithium-tantalum project also in Côte
d'Ivoire.
Glossary of Technical Terms
Granitic intrusion A granite intrusion represents a mass of crystalline igneous rock that has
slowly cooled and crystalized over a long period of time, resulting in its
coarse-grained texture. Granitic intrusions can take various forms and often
forms, such as batholiths, which are large and deep-seated intrusions, or
smaller veins and dikes. They contain by high silica content, with
light-colored minerals like quartz and feldspar, and a relatively low iron and
magnesium content.
ICP-MS Inductively coupled plasma mass spectrometry.
ICP-OES Inductively coupled plasma-optical emission spectroscopy.
Lepidolite Lepidolite is a purple to lilac-grey or rose-coloured member of the mica group
of minerals. It has chemical formula K(Li,Al)3(Al, Si)4O10(F,OH)2. It is part
of the polylithionite, lepidolite, and trilithionite group of minerals which
share similar properties and but have varying ratios of lithium and aluminium
in their chemical formulas and a potential secondary source of lithium.
Li Lithium
Li(2)O Lithium Oxide (Lithia) - an inorganic lithium compound used to assess lithium
minerals.
Relationship between Li and Li2O: Li2O = Li x 2.153
LIBS Laser Induced Breakdown Spectrometry. Handheld LIBS analysers use a
high-focused laser to ablate the surface of a sample. A plasma is formed
consisting of electronically excited atoms and ions. As these atoms decay back
into their ground states, they emit characteristic wavelengths of light, or
"unique fingerprints". These "fingerprints" or spectra are distinct for each
element. Handheld LIBS analysis can be used for quantitative and qualitative
measurements including lithium.
Mafic schist A mafic schist is a metamorphic rock, usually of volcanic origin, and composed
primarily of mafic minerals i.e. Minerals rich in magnesium (Mg) and iron (Fe)
and have a relatively darker colour compared to other minerals. Mafic schists
have a foliation or layered appearance resulting from the alignment of platy
minerals during metamorphism.
metavolcanics Volcanic rocks that have been metamorphosed.
Pegmatite An igneous rock typically of granitic composition, which is distinguished from
other igneous rocks by the extremely coarse size of its crystals, or by an
abundance of crystals with skeletal, graphic, or other strongly directional
growth habits, or by a prominent spatial zonation of mineral assemblages
pXRF portable X-ray Fluorescence handheld device that uses X-rays to excite matter
at the atomic level for determining approximate chemical compositions. A built
in CPU and display on the back of the unit provide live geochemical results
within seconds.
QA/QC Quality assurance and quality control. Use to assess the accuracy and
reliability of assay results
Spodumene Spodumene is a pyroxene group mineral with a chemical formula of LiAlSi2O6.
Spodumene is mined from pegmatites and concentrates produced which are the one
of the primary sources of lithium.
Ta Tantalum
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 · Soil samples weighing approximately 2-2.5kg were collected from a
specific specialised industry standard measurement tools appropriate to the 25-30cm diameter hole. The surficial humus and debris cleared prior to
minerals under investigation, such as down hole gamma sondes, or handheld XRF excavation of the shallow hole and the sample collected from the B-horizon and
instruments, etc). These examples should not be taken as limiting the broad placed into pre-numbered plastic bags. Oversize material was discarded.
meaning of sampling.
· Sample tickets inserted into the bags which were then sealed with a
· Include reference to measures taken to ensure sample representivity cable-tie or taped shut.
and the appropriate calibration of any measurement tools or systems used.
· Sample holes were backfilled and locations marked with a stick (peg)
· Aspects of the determination of mineralisation that are Material to and flagging tape with the sample ID marked.
the Public Report.
· Duplicate samples were collected from locations where pegmatite
· In cases where 'industry standard' work has been done this would be material was sampled.
relatively simple (e.g. 'reverse circulation drilling was used to obtain 1m
samples from which 3kg was pulverised to produce a 30g charge for fire · Areas of anthropogenic disturbances were avoided such as roads and
assay'). In other cases more explanation may be required, such as where there artisanal workings. However, cultivated fields were sampled. Streams,
is coarse gold that has inherent sampling problems. Unusual commodities or riverbeds and swamps were also avoided.
mineralisation types (e.g. submarine nodules) may warrant disclosure of
detailed information. · QAQC samples comprising certified reference materials, blanks and
field duplicates were inserted at regular intervals into the sample stream.
· Samples were dried, hand crushed, sieved <160 microns and pressed
into round pellet (~3cm diam).
· Sample analysis was done by LIBS for lithium and a multi-element
suite, including LCT pegmatite pathfinder elements (such as Sn, Ta, Rb) by
pXRF.
· Diamond drilling, producing drill core has been utilised to sample
the pegmatite below ground surface. This method is recognised as providing the
highest quality information and samples of the unexposed geology.
· Based on available data, there is nothing to indicate that drilling
and sampling practices were not to normal industry standards.
· All pegmatites were sampled from the hanging wall contact
continuously through to the footwall contact. The sampling did not include the
host rocks and stopped at the pegmatite contacts.
· Diamond drilling has been used to obtain core samples, which have
then been cut longitudinally. Intervals submitted for assay have been
determined according to geological boundaries. Samples were nominally taken at
1m intervals but ranged from 0.2-1.28m.
· The submitted half-core samples typically had a mass of 2-4kg but
ranged from 0.8-7.7kg
· The primary focus of this sampling was to determine the nature and
distribution of the lithium (and any other potential mineralisation) between
different pegmatites intersected in each hole and also variations within
individual pegmatites.
Drilling techniques · Drill type (e.g. core, reverse circulation, open-hole hammer, rotary · The drilling was completed using diamond core rigs with PQ sized
air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple drill rods from surface to sample through to fresh rock. HQ sized drill rods
or standard tube, depth of diamond tails, face-sampling bit or other type, were used after the top-of-fresh-rock had been intersected. Holes are angled
whether core is oriented and if so, by what method, etc). at 50° either to the northwest or southeast and collared from surface into
weathered bedrock. All holes were downhole surveyed using a digital multi-shot
camera at about 30m intervals.
· All core was orientated.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Drill core recovery averaged >95%. Weathered zone recoveries
results assessed. averaged between 90-95% and recoveries through the fresh rock averaged
>99%.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Based on the high recoveries, FSM did not implement additional
measures to improve sample recovery and the drill core is considered
· Whether a relationship exists between sample recovery and grade and representative and fit for sampling.
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material. · Most pegmatites were intersected in fresh rock and the core recovery
was near 100% and there is no sample bias due to preferential loss or gain of
fine or coarse material. Some bias may occur in the weathered portion of
pegmatites where recoveries were slightly lower but is not considered material
to the results as very few pegmatites were intersected in this zone.
Logging · Whether core and chip samples have been geologically and · Drill core was logged by qualified geologists and the logs were then
geotechnically logged to a level of detail to support appropriate Mineral captured into the database.
Resource estimation, mining studies and metallurgical studies.
· All drill core was logged qualitatively for geology (capturing
· Whether logging is qualitative or quantitative in nature. Core (or geological, weathering and mineralogical properties) and quantitatively for
costean, channel, etc) photography. geotechnical properties (RQD and structures) and recovery.
· The total length and percentage of the relevant intersections logged. · A complete copy of the data is held by CSA Global in a SQL database.
· All drill core was photographed both in dry and wet states, pre and
post sampling, with the photographs stored in the database.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · The soil samples were processed at FSM's camp in Tounvré.
taken.
· Samples were oven dried for up to 120 mins and then pulverised with a
· If non-core, whether riffled, tube sampled, rotary split, etc and motor and pestle until all material passed through 0.16mm sieve.
whether sampled wet or dry.
· 2 pulp samples of 100-200g of the screened material was then
· For all sample types, the nature, quality and appropriateness of the collected, one bagged and labelled for despatch to Ricca Resources laboratory
sample preparation technique. in Ghana and the duplicate remained as reference pulp sample in Tounvré camp.
The remaining material was retained.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · In Ghana a pressed pellet was produced from the sample using a manual
hydraulic press and the remaining sample retained.
· Measures taken to ensure that the sampling is representative of the
in situ material collected, including for instance results for field · Drill core is cut longitudinally, and half-core samples of a nominal
duplicate/second-half sampling. 1m length are submitted for assay.
· Whether sample sizes are appropriate to the grain size of the · The sample preparation for drill core samples incorporates standard
material being sampled. industry practice.
· The half core samples are then packaged and the certified reference
material, blanks and duplicates are inserted at appropriate intervals and
submitted for crushing and pulverizing at the Intertek sample preparation lab
in Yamoussoukro.
· The half-core samples of approximately 2-4 kg are oven dried, crushed
to a nominal -2 mm with a sub-ample of approximately 100g being split out.
This sub-sample is then pulverised to produce a pulp with 85% passing -75um
size fraction.
· A subsample is then split from this and then the complete sample
batch is couriered to Australia for assay analysis.
· Standard sub-sampling procedures are used by Intertek during all
stages of sample preparation such that each sub-sample split is representative
of the sample it was derived from.
· Duplicate sampling comprising coarse and pulp duplicates were
undertaken for the drilling programme. These were prepared by the lab during
the sample preparation process and the samples inserted into empty pre-
numbered bags that were placed into the sample sequence by SEMS geologists.
These were then processed further, along with all the other samples.
· The drilling produced PQ and HQ drill core, providing a
representative sample of the pegmatites which is coarse-grained. Sampling was
mostly at nominal 1m intervals, and the submitted half-core samples typically
had mass of 2-4 kg.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · The soil pulps were couriered to Ricca Resources Ghana laboratory
laboratory procedures used and whether the technique is considered partial or where they were subjected to industry accepted sample preparation and multi
total. element analysis by pXRF for 34 elements including Rb, Sn, Nb and Zr and LIBS
for 7 elements including Li.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Olympus Vanta XRF Analyzer model VMR series was used in reading
model, reading times, calibrations factors applied and their derivation, etc. multi-element suite and SciAps LIBS analyser for reading and Li and selected
elements.
· Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Internal laboratory QAQC checks analysis on its own certified
accuracy (i.e. lack of bias) and precision have been established. reference material of standards and blanks /inserted at regular interval into
the sample stream are reported.
· QAQC performance was monitored and reviewed by Ricca and demonstrated
the results are accepting for the reporting of the results.
· The Competent Person is satisfied that the assay results are suitable
for the reporting of exploration results.
· Geophysical instruments were not used in assessing the
mineralisation.
· The drill hole sample pulps were couriered to Intertek in Perth for
assay using a sodium peroxide fusion followed by an ICP-MS and ICP-OE assay.
Method code FP6/MS and FP6/OES. The samples were assayed for 21 elements
including Li, Ta, Nb and Sn.
· Peroxide fusion results in complete digestion of the sample and is
suitable for many refractory, difficult-to-dissolve minerals. Peroxide fusion
also provides for a more complete digestion of some silicate mineral species
and is considered to provide the most reliable determination of elements
associated with LCT pegmatites and associated mineralisation.
· QAQC samples comprising blanks (pulp and coarse crush chips) and
certified reference materials sourced from AMIS in South Africa 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 FSM.
· The Competent Person is satisfied that the results of the QAQC are
acceptable and that the assay data from Intertek is 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 · CSA Global (CSA) has not observed any of the sampling process
or alternative company personnel. executed by Ricca Resources sampling team.
· The use of twinned holes. · The logging and sampling data were captured onto paper logs and
transferred into an Excel spreadsheet that was imported into a SQL database
· Documentation of primary data, data entry procedures, data managed by CSA Global.
verification, data storage (physical and electronic) protocols.
· The field programme was managed by Ricca Resources.
· Discuss any adjustment to assay data.
· All data is stored locally on a laptop computer and backed-up onto
the cloud.
· The assay data has not been adjusted.
· CSA Global (CSA) observed the mineralisation in the majority of drill
core, but no check assaying was completed by them at this stage of the
exploration programme.
· The logging and sampling data were captured onto paper logs and
transferred into Excel spreadsheets that were imported into a SQL database
managed by CSA Global.
· The field programme was managed by SEMS- Exploration (Cote d'Ivoire).
· All hole locations were sited using a handheld GPS and surveyed with
a differential GPS (DGPS) once all drilling was completed. 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 · All soil sampling locations were captured using a handheld GPS The
and down-hole surveys), trenches, mine workings and other locations used in information was then transferred to the logging Excel spreadsheets.
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
· Quality and adequacy of topographic control. reporting exploration results.
· The drill hole locations were recorded using a DGPS device.
· Coordinates are relative to WGS84 UTM zone 29P.
· For the purposes of early-stage geological modelling, the drillhole
collars were projected onto a topographic surface.
· The locations are considered suitably accurate for the purpose of
reporting exploration results.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Soil sampling was completed on east-west grid with lines spaced at
100m apart and samples collected at 100m intervals along the lines to create a
· Whether the data spacing and distribution is sufficient to establish 100x100m sample grid across the Atex licence.
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 associated
with LCT pegmatites for follow-up exploration work.
· Whether sample compositing has been applied.
· No sample compositing was done.
· Drill holes were laid out along a northeast- southwest pattern spaced
between 70 and 300m apart. Holes were not drilled on a regular grid as this
early-stage phase of scout drilling was designed to test the mapped pegmatites
for mineralisation, determine orientation at depth and geological continuity
for certain pegmatites.
· The spacing is considered suitable to determine targets for follow-up
work. Areas for follow-up exploration have also been identified based on gaps
identified in the data generated to date.
· No sample compositing was done.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The drillhole orientation is designed to intersect the pegmatites at,
possible structures and the extent to which this is known, considering the or nearly at, 90° to the plane of the pegmatite. However, due to the poor
deposit type. control on the pegmatite orientations and limitations of the drill rig (could
not drill holes <50°), many of the pegmatite intercepts were drilled
· If the relationship between the drilling orientation and the obliquely to the pegmatite.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · The pegmatite intercepts in the drill holes thus represent widths
which are greater than the true pegmatite widths. This is illustrated in the
attached sections. (refer the Company's notifications of 15 November 2022
and 15 December 2022)
· The relationship between the apparent widths and true width has not
yet been established.
Sample security · The measures taken to ensure sample security. · All soil samples were collected, labelled and bagged on site by the
Ricca exploration team.
· Samples were secured and stored in FSM's core yard facility in
Tounvré where the sample preparation was also done.
· Sample batches of the prepared sample material were then dispatched
to Ricca Resources' laboratory in Ghana for assay by LIBS and pXRF.
· Sample transport to Ghana was managed by Ricca Resources and
facilitated by Intertek Yamoussoukro Prep lab, which delivered the samples to
Ghana on behalf of Ricca Resources
· A chain of custody sheet was verified and signed off at each stage in
transit before in get to the Laboratory in Ghana and finally checked and
signed by the recipient.
· The sample lists were submitted to the Ricca Resources laboratory in
Ghana electronically and checked by the recipient against what was received.
· Batch tracking file is updated regularly, considering the status of
samples dispatched and results received.
· All drill core samples were collected, labelled and bagged on site by
the SEMS-Exploration team.
· Samples were secured and stored in FSM's core yard facility in
Tounvré.
· The sample batches were then collected from Tounvré 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, via Intertek Ghana, for assay.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · The soil sampling technique and assay methodology have been reviewed
by Mr Michael Cronwright of CSA Global, the Competent Person.
· Regular reviews of the data and assay results have been conducted to
ensure the data are suitable for target generation purposes.
· 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.
· The drilling and sampling techniques were reviewed by Mr Michael
Cronwright of CSA Global, the Competent Person, during the site visit in
August 2022.
· Discussions were held with key technical staff from SEMS-Exploration
regarding the geology, sampling and data capturing they conducted.
· The Competent Person considers that the exploration work conducted to
date has been 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 in this section apply to all succeeding sections)
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 four years and expired in December
partnerships, overriding royalties, native title interests, historical sites, 2021. In March 2021, Firering Holdings acquired 51% of Atex Mining and has an
wilderness or national park and environmental settings. option 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 and 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
Tounvré.
· 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, and
identified a number of areas with potentially economic columbo-tantalite
mineralisation as well as spodumene-lepidolite bearing pegmatite(s) around
Spodumene Hill. His mapping also recognised five 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.
· Atex Mining Resources conducted the most recent exploration
comprising limited mapping and rock chip sampling focussed on the lithium
potential of the licence and confirmed the presence of spodumene and
lepidolite mineralisation on and 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 is 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 that 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 bothin 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 pegmatites within the Atex Proiect are hosted in mafic schists,
although some minor mica schist is also present, and comprise a series of
steeply dipping north-northeast striking bodies. Less common are smaller
east-west orientated pegmatites Current work by Firering Strategic Minerals
has identified a number of pegmatite bodies around Spodumene Hill, which have
been the focus of the current drilling campaign.
· Several of these pegmatites have been identified to be potentially
lithium bearing, with the lithium hosted in spodumene and lepidolite.
· 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 Tounvré.
Drill hole Information · A summary of all information material to the understanding of the · All relevant maps showing the sample locations and lithium results have
exploration results including a tabulation of the following information for been included in the announcement.
all Material drill holes:
· Only lithium results have been reported as this data best summarises and
o easting and northing of the drill hole collar highlights the potential target areas identified.
o elevation or RL (Reduced Level - elevation above sea level in metres) of · All drill hole location data is provided in the accompanying
the drill hole collar documentation.
o dip and azimuth of the hole · Only significant intercepts have been reported comprising pegmatites
meeting the following criteria: pegmatites intercepts >1m and containing at
o down hole length and interception depth least one sample interval with >0.5% Li(2)O. (refer the Company's
notifications of 15 November 2022 and 15 December 2022)
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, · No equivalent values are used or reported for soil sampling.
maximum and/or minimum grade truncations (e.g. cutting of high grades) and
cut-off grades are usually Material and should be stated. · No data aggregation or metal equivalents have been reported.
· Where aggregate intercepts incorporate short lengths of high grade · Significant drill Intercepts are reported as length- weighted grades
results and longer lengths of low grade results, the procedure used for such within the logged pegmatite.
aggregation should be stated and some typical examples of such aggregations
should be shown in detail. · The significant intercepts have been reported as per the accompanying
documentation.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated. · The majority of samples were taken at 1m lengths.
· No equivalent values are used or reported.
· 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 · There is no relationship between the lithium results in the soil
Exploration Results. samples and possible pegmatite hosted lithium mineralisation.
· If the geometry of the mineralisation with respect to the drill hole · No relationship has been established with respect to the target sizes
angle is known, its nature should be reported. and the size of potential pegmatite hosted lithium mineralisation.
· If it is not known and only the down hole lengths are reported, there · Follow-up exploration work is required to test the targets identified
should be a clear statement to this effect (e.g. 'down hole length, true width and establish whether the targets are associated with mineralised pegmatites.
not known').
· The pegmatite intercepts (downhole lengths) in the drill holes
represent apparent widths, which are greater than the true pegmatite widths.
This is illustrated in the attached sections.
· The relationship between the apparent widths and true width has not yet
been established.
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 are related to the regional soil
practicable, representative reporting of both low and high grades and/or sampling results for batches 1-7 and part of batch 8 from the Atex project
widths should be practiced to avoid misleading reporting of Exploration conducted by Ricca Resources
Results.
· The reported exploration results from the Atex project are related to
the diamond core drilling sample assays reported to date. (refer the Company's
notifications of 15 November 2022 and 15 December 2022)
Other substantive exploration data · Other exploration data, if meaningful and material, should be · Not 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 · Follow up surface auger sampling to be completed over priority
extensions or depth extensions or large-scale step-out drilling). multi-element anomalies.
· Diagrams clearly highlighting the areas of possible extensions, · Additional exploration is planned and summarised in the accompanying
including the main geological interpretations and future drilling areas, documentation.
provided this information is not commercially sensitive.
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