REG - Firering Strategic - Start of Phase II Soil Sampling Programme

Firering Strategic MineralsAnnouncement

18/01/2023 07:00

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RNS Number : 0447N  Firering Strategic Minerals PLC  18 January 2023

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

 

 

18 January 2023

 

Firering Strategic Minerals plc

("Firering" or "the Company")

 

Start of Phase II Soil Sampling Programme

40% of the 2,491 Planned Soil Samples Completed

 

Firering Strategic Minerals plc, an exploration company focusing on critical
minerals, is pleased to announce the commencement of its large-scale Phase II
Soil Sampling Programme at its flagship Atex Lithium-Tantalum Project
("Atex"), in Côte d'Ivoire.  The Phase II Programme is being undertaken in
conjunction with Ricca Resources Limited ("Ricca") following its US$18.6
million investment to advance Atex to Definitive Feasibility Study ("DFS")
announced on 2 November 2022.

 

Highlights:

 

·    Two new pegmatite zones identified; one on each side of the main
strike

·    993 soil samples taken out of a planned 2,491 samples

·    673 soil samples prepared for analysis with portable x-ray
fluorescence spectrometry ("pXRF") and Laser Induced Breakdown Spectrometry
("LIBS")

·    Coremet commenced coltan test work

 

Yuval Cohen, Chief Executive of Firering, said:

 

"After the successful completion of our Phase I diamond drilling programme and
partnering with Ricca for the next phase of exploration, I am pleased to
announce that Phase II of our planned soil sampling programme started on 9
January 2023.  A total of 993 soil samples, approximately 40% of a planned
total of 2,491 samples, were completed with 673 prepared for analysis with
pXRF and LIBS.

 

"Particularly encouraging are the two new pegmatite zones found and mapped
during the soil sampling exercise.  Based on the current progress, we believe
that our soil sampling programme will be completed ahead of time.  I am
looking forward to receiving the results and updating the market in due
course."

 

Soil Sampling

Phase II of the Atex soil sampling programme commenced on 9 January 2023.  By
close of business on 16 January 2023, 993 soil samples had been taken out of a
planned 2,491 samples, representing 40% (see map below).

 

The number of soil samples prepared for analysis in Ghana is 673.  Analysis
of the prepared samples will be done with pXRF and LIBS, which specifically
targets the lithium in the samples.  The first batch of prepared samples is
expected to arrive in Accra in January 2023.

Map showing soil sampling progress as of 16 January 2023.  New pegmatite
zones identified on the western and eastern side of the main strike.

 

Coremet Test Work

High level test work is being undertaken by SGS/Coremet in Johannesburg, South
Africa on three samples comprising:

·    one composite sample of approximately 30kg lepidolite-bearing
pegmatite material collected at surface from around Spodumene Hill; and

·    two composite samples of approximately 15kg and 80kg respectively
comprising colluvial/eluvial material from pits excavated on and around
Spodumene Hill.

 

The objective of the test work is to determine the nature of the tantalum
("Ta") and niobium ("Nb") mineralisation within the samples, the particle size
distribution of the said mineralisation, liberation and whether the
mineralisation is amenable to upgrading and potential production of a Ta-Nb
concentrate.

 

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 notification. 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

 Vassilios Carellas

 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 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. 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.

Glossary of Technical Terms

 

 Li         Lithium.
 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.
 Nb         Niobium.
 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.
 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.
 Ta         Tantalum.

 

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