REG - Firering Strategic - Geological Update Atex Project

Firering Strategic MineralsAnnouncement

21/12/2021 07:00

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RNS Number : 2660W  Firering Strategic Minerals PLC  21 December 2021

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

 

21 December 2021

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

Geological Update Atex Project

 

Firering Strategic Minerals, an exploration company focusing on critical
minerals, is pleased to announce that SEMS Exploration has completed the first
regional detailed geological map of the Company's flagship Atex
Lithium-Tantalum Project in Côte d'Ivoire ("Atex").  The Company is further
pleased to announce that, as of 16 December 2021, it has completed 240 auger
holes as part of its Phase 1 exploration programme.

 

Key highlights:

 *  Board believes Atex Lithium-Tantalum Project in northern Côte d'Ivoire has
the potential to   become Africa's next significant lithium pegmatite and
coltan resource.

 *  The Atex licence area was mapped systematically by E-W traverses spaced at 1
km, recording       more than 60 outcrops of potential interest. Two
prospective areas to the north and south of   Spodumene Hill were mapped at
a line spacing of 500 m.

 *  Pegmatite intrusions occur in an NNE-SSW-oriented field at least 13 km x 4
km in dimension,   which is well beyond the dimensions of some 400 m x 4 km
initially defined by Adam (1966).

 *  The aplites found during the mapping programme lie up to 3-4 km to the NNE
and SSW along   strike of Spodumene Hill and could indicate extensions of
the spodumene-bearing   pegmatite/aplite zone currently being tested by
auger drilling.

 *  The northeast corner of the Atex licence shows some 7 km of faulted contact
between Birimian   mafic volcanic and sedimentary rocks, making the area
potentially prospective for orogenic Au   (gold) mineralisation.

 *  240 auger holes have been completed for a total of 1,328 metres with an
average hole depth of      5.5 m.

 *   1,283 auger drill and soil samples have been sent to Intertek Laboratories
in Yamoussoukro for       sample preparation and will be assayed using a
4-acid digest.

 

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

"Completing this first detailed geological map of the Atex licence confirmed
what the Company had long believed: the presence of a much larger pegmatite
field.  A similar mapping exercise will be completed over the Alliance
licence area in 2022, in which Firering recently acquired a controlling
stake.  Assay results from the first 1,283 samples sent to Intertek are
expected during Q1 of 2022.

 

"The results from our auger samples and soil samples will add valuable
geological information that will enhance the geological map, which in turn,
will assist us in refining our diamond drill programme - targeting the lithium
bearing pegmatite veins  - expected to commence during Q2 of 2022.

 

"We are extremely encouraged with the rapid progress at Atex, to date,
considering we kicked off the two-year exploration drilling programme only in
late November."

 

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 / 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
the 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.

 

About 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.

 

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