REG - Firering Strategic - Pegmatite Intersected in Every Hole of Drilling

Firering Strategic MineralsAnnouncement

13/10/2022 07:00

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RNS Number : 7208C  Firering Strategic Minerals PLC  13 October 2022

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

 

13 October 2022

 

Firering Strategic Minerals plc

("Firering" or "the Company")

 

First Phase Diamond Drilling Complete - Awaiting Lithium Assays

-     Pegmatite Intersected in Every Hole with Visual Mineralisation
Identified in

 18 out of the 19 holes Drilled -

 

Firering Strategic Minerals plc, an exploration company focusing on critical
minerals, is pleased to announce the results and completion of its Phase 1
diamond drill ("DD") programme on its flagship Atex Lithium-Tantalum Project
("Atex"), in Côte d'Ivoire.

 

Highlights

 

·    Drilled the final eight holes of the Phase 1 DD programme, resulting
in a total of 19 holes drilled and 3,039m of drilling.

 

·    Pegmatite intersected in all 19 drill holes.

 

·    Visual identification of lithium mineralisation in 18 of the 19 drill
holes.  Intercepts include:

o  Hole 4: 9.3m (apparent thickness) showing spodumene and lepidolite.

o  Hole 4: 19.8m (apparent thickness) showing spodumene.

o  Hole 5: 11.6m (apparent thickness) showing spodumene.

o  Hole 6: 20.3m (apparent thickness) showing spodumene.

o  Hole 8: 11.2m (apparent thickness) showing spodumene.

o  Hole 11: 21.5m (apparent thickness) showing spodumene.

o  Hole 18: 16.7m (apparent thickness) showing spodumene and lepidolite.

 

·    Prepared half-core samples for assaying with the first results
expected during Q4 2022.

 

·    Twenty samples were collected from the drill core for future
petrographic (thin sections) and X-ray diffraction ("XRD") analysis.

 

·  Samples of colluvium and weathered pegmatite were sent to Cormet in South
Africa for metallurgical test work.

 

Nineteen diamond drill holes were completed around and along strike from
Spodumene Hill

·    Have now successfully completed a total of nineteen diamond drill
("DD") holes targeting the potential Li-bearing pegmatites for a total of
3,039m.

·    All drill holes have been drilled at a dip of 50 degrees to either
the northwest or southeast to intersect the steeply dipping, north-northeast
striking pegmatites (see map overleaf).

 

Yuval Cohen, Chief Executive of Firering, said:

 

"I am pleased to provide our next update regarding our Phase 1 core drilling
programme, which has been completed successfully.  Nineteen holes were
drilled, and pegmatites were intersected in every hole.  Lithium
mineralisation was visually observed in eighteen out of the nineteen holes,
and we are now eagerly awaiting the assay results, the first of which should
arrive during Q4 2022.  We look forward to providing the market with these
assay results in due course".

 

 

Map showing all nineteen drill holes and eight trenches completed across and
along strike from Spodumene Hill.

 

 

Initial visual observations of the drill core

·    All nineteen holes drilled intersected pegmatites and have been
logged in detail.

·    Visible lithium mineralisation is present in eighteen out of the
nineteen holes.

·   The first batch of prepared half-core samples arrived at Intertek
Laboratories in Perth on 21 September 2022 for assaying.

·    First assay results are expected in Q4 2022.

·    XRD and petrographic (thin section) analysis on the 20 samples
selected from the drill core will commence once assay results have come in.

·    Additional XRD analysis will also be conducted on the basis of the
assay results.

Results of all nineteen holes drilled during Phase 1 are shown in the table
below.

 

 Hole ID   UTM29N/WGS84                              Hole depth (m)  Azimuth (magnetic)  Dip    Comments
           Easting (m)  Northing (m)  Elevation (m)
 TVDD0001  775076       1097616       405            199             124°                -50°   Visible spodumene
 TVDD0002  774969       1097497       403            201.1           124°                -50°   No visible lithium mineralisation observed
 TVDD0003  775278       1097417       407            200.95          304°                -50°   Visible spodumene and lepidolite
 TVDD0004  775176       1097723       390            161.6           124°                -50°   Visible spodumene and lepidolite
 TVDD0005  775218       1097384       409            131.8           304°                -50°   Visible spodumene
 TVDD0006  775195       1097311       407            122.7           304°                -50°   Visible spodumene
 TVDD0007  775393       1097775       397            209.7           304°                -50°   Visible spodumene
 TVDD0008  775059       1097204       403            161.7           304°                -50°   Visible spodumene
 TVDD0009  774881       1097280       403            149.8           124°                -50°   Visible spodumene
 TVDD0010  775142       1097741       397            200.75          124°                -50°   Visible spodumene
 TVDD0011  775312       1097453       402            157.9           304°                -50°   Visible spodumene
 TVDD0012  775252       1097364       401            131.8           304°                -50°   Visible spodumene
 TVDD0013  775234       1097293       408            164.6           304°                -50°   Visible spodumene
 TVDD0014  774817       1097154       399            111             124                 -50°   Visible spodumene and lepidolite
 TVDD0015  774780       1096969       406            136             124                 -50°   Visible spodumene and lepidolite
 TVDD0016  774958       1096651       409            212.6           124                 -50°   Visible spodumene and lepidolite
 TVDD0017  774882       1096936       405            131.7           124                 -50°   Visible spodumene and lepidolite
 TVDD0018  775280       1097668       405            119.6           304                 -50°   Visible spodumene and lepidolite
 TVDD0019  775299       1097551       408            134.8           304                 -50°   Visible spodumene and lepidolite

 

Some photographs of recent core with visible spodumene (left) and spodumene
and lepidolite (right).

 

Pegmatite intercepts of 1m or more are shown in the following table.

 

 

 Hole ID   From (m)  To (m)  Intersection length (m)  Lithium mineralisation observed
 TVDD0001  53.5      57.5    4                        Spodumene
 TVDD0002  4.85      6.75    1.9
 TVDD0002  68.3      69.68   1.38
 TVDD0002  72.02     73.05   1.03
 TVDD0002  78.6      81.61   3.01
 TVDD0002  98.72     100.1   1.38
 TVDD0003  37.25     44.7    7.45
 TVDD0003  44.7      48.65   3.95                     Spodumene
 TVDD0003  48.65     52.6    3.95
 TVDD0003  60.7      89.6    28.9
 TVDD0003  111.1     112.65  1.55
 TVDD0004  67.7      69.05   1.35                     Spodumene + Lepidolite
 TVDD0004  69.53     71.47   1.94
 TVDD0004  71.64     75.37   3.73                     Spodumene
 TVDD0004  75.94     81.84   5.9                      Spodumene + Lepidolite
 TVDD0004  81.84     85.5    3.66                     Spodumene + Lepidolite
 TVDD0004  85.5      91.2    5.7                      Spodumene + Lepidolite
 TVDD0004  91.2      100.45  9.25                     Spodumene + Lepidolite
 TVDD0004  100.75    104.9   4.15                     Spodumene + Lepidolite
 TVDD0004  104.9     107     2.1
 TVDD0004  107       126.8   19.8                     Spodumene
 TVDD0004  126.8     129.11  2.31                     Spodumene
 TVDD0004  129.91    133.7   3.79
 TVDD0004  133.7     138.61  4.91
 TVDD0004  138.61    139.95  1.34
 TVDD0005  38.85     44.42   5.57
 TVDD0005  60.9      72.53   11.63                    Spodumene
 TVDD0005  72.53     78.92   6.39                     Lepidolite
 TVDD0005  78.92     80.2    1.28                     Lepidolite
 TVDD0005  80.2      81.93   1.73
 TVDD0006  16.05     20      3.95
 TVDD0006  20        22.85   2.85
 TVDD0006  22.85     26.3    3.45
 TVDD0006  26.3      32.3    6
 TVDD0006  32.3      44.4    12.1                     Spodumene
 TVDD0006  44.4      56.8    12.4
 TVDD0006  56.8      60      3.2
 TVDD0006  60        64.55   4.55                     Lepidolite
 TVDD0006  64.55     67.1    2.55                     Spodumene
 TVDD0006  67.1      87.4    20.3                     Spodumene
 TVDD0006  87.4      89.9    2.5
 TVDD0007  73.14     74.41   1.27
 TVDD0007  82.1      83.71   1.61
 TVDD0007  185.6     191.04  5.44                     Spodumene + Lepidolite
 TVDD0007  196.57    199.24  2.67
 TVDD0008  31        42.24   11.24                    Spodumene
 TVDD0008  52.58     58      5.42                     Spodumene
 TVDD0008  103.68    104.83  1.15
 TVDD0009  23.61     38.19   14.58
 TVDD0009  44.3      45.63   1.33                     Spodumene
 TVDD0009  50.34     58.01   7.67                     Spodumene
 TVDD0009  69.03     70.79   1.76
 TVDD0010  58.15     62.78   4.63                     Spodumene
 TVDD0010  66.56     68.69   2.13                     Lepidolite
 TVDD0010  95.54     108.04  12.5                     Spodumene
 TVDD0010  153.35    157.07  3.72                     Spodumene
 TVDD0010  158.7     162.35  3.65                     Spodumene
 TVDD0010  185.52    186.56  1.04                     Lepidolite
 TVDD0011  6.4       7.75    1.35
 TVDD0011  40.82     44.28   3.46                     Spodumene
 TVDD0011  49.21     50.64   1.43                     Spodumene
 TVDD0011  53.2      54.55   1.35                     Spodumene
 TVDD0011  54.55     76      21.45                    Spodumene
 TVDD0011  76        78.64   2.64
 TVDD0011  78.64     84.75   6.11
 TVDD0012  27        32.27   5.27                     Spodumene
 TVDD0012  33.95     38.8    4.85                     Spodumene
 TVDD0012  38.8      46.3    7.5                      Spodumene
 TVDD0012  46.3      59.05   12.75
 TVDD0013  61.42     70.37   8.95
 TVDD0013  85.15     96.18   11.03                    Spodumene
 TVDD0014  31.09     39.4    8.31                     Spodumene + Lepidolite
 TVDD0014  39.4      44.44   5.04
 TVDD0015  30.1      41.57   11.47                    Lepidolite
 TVDD0015  87.72     91.43   3.71
 TVDD0016  10.7      18.71   8.01
 TVDD0016  34.04     50.02   15.98
 TVDD0016  50.64     55.74   5.1
 TVDD0016  65.2      69.02   3.82
 TVDD0016  72.74     84.37   11.63
 TVDD0016  91.31     104.88  13.57                    Spodumene
 TVDD0016  104.88    107.7   2.82
 TVDD0016  122.25    123.28  1.03
 TVDD0016  138.36    139.4   1.04
 TVDD0016  141.1     152.3   11.2
 TVDD0016  152.3     171.62  19.32                    Spodumene + Lepidolite
 TVDD0016  171.62    184.43  12.81
 TVDD0016  184.43    186.18  1.75
 TVDD0016  186.18    195.39  9.21                     Spodumene + Lepidolite
 TVDD0017  17.7      24.4    6.7                      Spodumene
 TVDD0017  26.6      28.4    1.8
 TVDD0017  29.4      37.45   8.05                     Lepidolite
 TVDD0018  67.51     70.99   3.48                     Lepidolite
 TVDD0018  77.39     79.48   2.09                     Spodumene + Lepidolite
 TVDD0018  79.48     82.77   3.29                     Spodumene
 TVDD0018  82.77     99.5    16.73                    Spodumene + Lepidolite
 TVDD0018  99.5      102.33  2.83                     Spodumene + Lepidolite
 TVDD0019  60.42     67.12   6.7                      Spodumene + Lepidolite
 TVDD0019  71.53     81.34   9.81                     Spodumene
 TVDD0019  81.34     92.46   11.12                    Spodumene

 

 

Note: Intersections show apparent thickness, not true thickness. The
relationship between true and apparent thickness has not yet been established.

 

Metallurgical test work

·    All planned pits, including three additional pits, on and around
Spodumene Hill were completed.

·    All pits were sampled and analysed for tantalum using Firering's new
Vanta pXRF.

·    Composite samples containing tantalum were prepared and sent to
Coremet in Johannesburg, South Africa, in September 2022 for metallurgical
test work.

·    A separate sample of 30kg of lepidolite was also sent to Coremet for
test work.

 

Environmental and Social Governance

·    Officially opened an additional water borehole in the nearby village
of Touvré on 21 September 2022 in the presence of local, regional and
national authorities (see photographs below).

 

Pictures taken during the official opening of the water borehole in Tounvré,
21 September 2022.

 

 

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 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) @stbridespartners.co.uk

                                               (mailto:firering@stbridespartners.co.uk)
 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 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.  Provided pilot production is
successful, a large-scale Tantalum production facility will 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.

 

Glossary of Technical Terms

 

 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
 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)(4)O(10)(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.
 Spodumene   Spodumene is a pyroxene group mineral with a chemical formula of
             LiAlSi(2)O(6). Spodumene is mined from pegmatites and concentrates produced
             which are the one of the primary sources of lithium.
 XRD         x-Ray diffraction (XRD), or x-ray powder diffraction, utilizes x-ray radiation
             on crystalline organic and inorganic samples. The rays are diffracted in a
             pattern determined by the position, arrangement, and size of the constituents
             of the crystal.
 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.

 

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