REG - Firering Strategic - Firering to Fast-Track Diamond Drilling Programme

Firering Strategic MineralsAnnouncement

10/02/2022 07:00

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RNS Number : 2101B  Firering Strategic Minerals PLC  10 February 2022

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

 

10 February 2022

Firering Strategic Minerals plc ("Firering" or "the Company")

Geological update Atex Project

 

Firering to Fast-Track Diamond Drilling Programme

 

Firering today announces that further mapping by SEMS Exploration on and
around Spodumene Hill at Firering's flagship Atex Project in Côte d'Ivoire
has identified additional pegmatite outcrops as well as more lithium-bearing
pegmatite float, allowing for the fast-tracking of a diamond drilling
programme.

 

Key highlights:

·   As of 4 February 2022, Royal Mining completed 348 auger holes as part
of the Phase 1 drilling programme; 120m of the first of four trenches across
Spodumene Hill was also completed.

·   Mapping in the surrounding area has revealed several new pegmatites,
with apparent widths ranging from a few metres to over 100m; some of these
pegmatites feature quartz-rich and muscovite-rich zones, like the one on
Spodumene Hill.

·    Completion of the planned trenches on Spodumene Hill will allow for
an accurate interpretation (size/structure) of the mineralised pegmatite and
assist with the planning of a diamond drilling programme; initial discussions
with drilling contractors have already commenced.

·  Diamond drill programme targeting the hard rock lithium bearing
pegmatites on track to commence in Q2.

·    A reinterpretation of the recent pegmatite map of the area has
identified a number of pegmatites south south-east of Spodumene Hill.  See
the updated map:
(https://www.fireringplc.com/gallery.php?pID=207&page=Image_Library
(https://www.fireringplc.com/gallery.php?pID=207&page=Image_Library) ).
This, again, confirms that the potential pegmatite field appears significantly
larger than identified from previous historical results.

·   Initial observations of the first trench dug indicate a highly
weathered pegmatite, comprising muscovite, feldspar and quartz, with an
apparent width of ≈100m. This pegmatite underlies the occurrences of
spodumene on the hill and is upslope of numerous lepidolite boulders.

·    Several new areas containing boulders of lithium-bearing pegmatite
float have also been identified around Spodumene Hill, suggesting that some of
the pegmatites along strike of the deposit may be similarly
evolved/mineralised pegmatites
(https://www.fireringplc.com/gallery.php?pID=207&page=Image_Library).

·    348 auger holes have been completed for a total of 2,153m, with an
average hole depth of 6.2m; these auger holes are assisting in determining the
location and extents of the pegmatite veins below the overburden, as well
enabling the Company to sample the overburden for the coltan-tantalum
mineralisation.

·    2,316 prepared samples have arrived at Intertek Laboratories in Perth
for 4-acid digest. First assay results for the coltan mineralisation in the
overburden are expected in Q1.

·    Historical pits dug in three zones are being located and properly
surveyed. Firering will select pits in each zone that will be 'twinned'. A
100kg representative sample from each zone will be sent to Coremet in
Johannesburg for metallurgical test work to confirm the coltan mineralisation
identified previously and better characterise it.

 

Yuval Cohen, Chief Executive of Firering Strategic Minerals, said:

"We are delighted that the recent detailed mapping of the area around
Spodumene Hill has, once again, identified additional pegmatites zones. We are
similarly excited that the current interpretation of our potential pegmatite
field, in turn, allows us to bring forward our diamond drilling programme
targeting fresh pegmatite discovery."

 

"2022 is shaping up to be a pivotal year for Firering as we advance on our
lithium and tantalum-coltan journey in West Africa."

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Regulation 11 of the
Market Abuse (Amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the
publication of this announcement via a Regulatory Information Service, this
inside information is now considered to be in the public domain.

 

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)
 Susie Geliher / Ana Ribeiro/ Oonagh Reidy

 

 

 

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
Côte d'Ivoire including lithium and columbite-tantalite 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
columbite-tantalite.  Firering intends to advance development at Atex with a
view to establishing pilot scale production of tantalum and niobium production
within 18 months to generate early revenues and support further exploration
work.  A large-scale coltan 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.

 

SEMS Exploration

SEMS Exploration is the leading full-service mineral exploration and mining
consultancy company in West Africa. It provides a full range of geological,
mining engineering and environmental services; from grassroots reconnaissance
through mineral resource estimations, project management and mine design to
the supervision of feasibility studies. SEMS has provided technical and
corporate support services to the Mineral Exploration and Mining Industry of
West and Central Africa since 2002.  It has a reputation for dedicated,
high-quality work which has attracted a high calibre of staff from all
disciplines within the mining sector.

Royal Mining

West African based Royal Mining are experienced operators in the region with
clients including Atlantic Lithium's (previously called IronRidge Resources)
gold and lithium licences in Côte d'Ivoire and Ghana. RM's activities will
be overseen by SEMS of Côte d'Ivoire and mining consultants CSA Global of
South Africa.

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