REG - Firering Strategic - Operational Update and 2022 H1 Outlook

Firering Strategic MineralsAnnouncement

13/01/2022 07:00

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RNS Number : 2756Y  Firering Strategic Minerals PLC  13 January 2022

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

 

13 January 2022

 

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

Operational Update and 2022 H1 Outlook

 

Firering Strategic Minerals plc, an exploration company focusing on critical
minerals, is pleased to update the market on the exploration activities at its
Atex dual Lithium-Coltan (Tantalum) Project ("Atex"), as well as progress on
the plan to commence near-term pilot production of conflict-free tantalum.

 

Exploration Activities (Lithium and Tantalum)

·    First phase auger drilling campaign and soil sampling at Atex Project
to identify prime lithium and tantalum targets for resource definition
notified on 21 December 2021 has now been completed:

o Auger drilling comprised of 267 holes covering 1,684 metres.

o Approximately another 1,000 auger and soil samples (in addition to the 1283
auger drill samples notified on 21 December 2021).

o Auger drilling and soil samples have all now been prepared by the local
branch of Intertek Group plc and forwarded for assaying to its Perth facility.

o Results of the auger drilling and soil sampling are expected to be delivered
in batches during Q1 2022.

·    Mapping of the auger drill holes shows continuation of the potential
lithium bearing pegmatites on either side of Spodumene Hill and is still open
in both directions See link: https://www.fireringplc.com/gal.php?gID=232

·    Trenching on Spodumene Hill to commence in the coming weeks to
determine the extent and grade of the outcropping lithium mineralisation at
this target - further details of the programme will be announced in due
course.

·    2,100m diamond drill programme is scheduled to commence in Q2 2022 -
targeting both the lithium bearing pegmatite veins and tantalum.

·    Geological mapping in the Atex licence area will continue with the
potential to further enlarge an already growing pegmatite field discovered
during the 2021 mapping programme (see RNS notification dated 21 December
2021).

 

Near Term Production (Tantalum)

·    First metallurgical sample to be dispatched in the coming weeks to
Coremet Services Pty Ltd, an expert in gravity mining separation processes,
for metallurgical testing.

·    The technical flowsheet design of the tantalum pilot plant expected
to be completed during Q2 2022.

·   Order to purchase 1-2 C900 Multi Gravity Separators to produce pilot
tantalum production earmarked for H2 2022.

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

"We are excited about the first half of 2022 and beyond as we push ahead with
exploration at Atex. With lithium being in high demand for the production of
batteries for the EV market, the time is right to focus on what we believe
could be the next major lithium resource in West Africa.

 

"Equally, we look forward to advancing our near-term tantalum ambitions
towards pilot production, and maiden cash flow, during the year ahead and will
regularly update the market regarding our progress."

 

*** 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)
 Susie Geliher / 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.

 

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