REG - Switch Metals PLC - Update on Maiden Resource Estimate at Issia

Switch MetalsAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260327:nRSa3531Ya&default-theme=true

RNS Number : 3531Y  Switch Metals PLC  27 March 2026

27 March 2026

 

Switch Metals plc

("Switch Metals" or the "Company")

 

Update on Maiden Resource Estimate at Issia

 

Switch Metals (AIM: SWT), the critical metals company focused on tantalum and
lithium in the Côte d'Ivoire, announces an update on the timings for the
maiden Mineral Resource Estimate ("MRE") at the Issia Project.

 

Highlights

 

·      Resource washing programme completed for maiden tantalum MRE at
Issia

o  Independent laboratory assays and geological modelling advancing toward
publication of MRE-1

·      Further incremental MRE updates will incorporate previously
delineated eluvial, colluvial and alluvial targets

 

The washing programme for the maiden MRE has been completed on time and within
budget. This marks the end of the field-based work required for the initial
MRE, with independent laboratory assays and geological modelling, which have
been running in parallel, advancing towards publication of MRE-1 in the coming
weeks.

 

The Issia Project forms part of Switch Metals' 1,015 km² district-scale land
package in south-west Côte d'Ivoire, covering a highly prospective pegmatite
corridor with demonstrated tantalum and lithium mineralisation. The Company
continues to advance its strategy of defining a near-surface tantalum
resource, with further upside across alluvial and hard-rock targets across the
wider licence package.

 

Arethuse Geology Sarl, which prepared the Independent Competent Persons'
Report on the Switch Metals project portfolio in connection with the Company's
admission to AIM has been engaged to produce the maiden MRE.

 

MRE Development Strategy

 

The Directors anticipate that the following MREs will be issued in the coming
months:

 

·      MRE-1: Initial MRE focused on eluvial and colluvial targets

·      MRE-2: An incremental update incorporating tantalum-rich eluvial
and colluvial targets

·      MRE-3: A further incremental update focused on alluvial drainage
targets

 

Completion of MRE-1 will represent a key milestone in advancing the Issia
Project toward subsequent technical and economic studies during the balance of
2026 and, in due course, the application for a mining licence. In turn, this
is also expected to support the progression of the Company's early cash flow
plans.

 

Karl Akueson, CEO of Switch Metals plc commented:

"The completion of the resource washing programme at Issia marks an important
operational milestone for Switch Metals as it moves the project into the next
stages of assay interpretation, modelling and resource definition.

 

"Set against the backdrop of record tantalum pricing and increasing global
demand, especially for secure, ethical and responsibly sourced supply, we
believe the Issia Project is well positioned to emerge as a significant
conflict-free tantalum opportunity in Côte d'Ivoire.

 

For further information, please contact:

 Switch Metals plc                                                              Via IFC Advisory

 Karl Akueson, CEO

 Andy Yeo, CFO

 Allenby Capital Limited (Nominated Adviser & Joint Broker)                     +44 (0) 203 328 5656

 Corporate Finance: James Reeve / Nick Harriss

 Sales: Kelly Gardiner / Lauren Wright/ Matt Butlin

 OAK Securities (Lead Broker)                                                   +44 (0) 203 973 3678

 Jerry Keen, Head of Corporate Broking

 jerry.keen@oak-securities.com (mailto:jerry.keen@oak-securities.com)

 Henry Clarke, Head of Sales

 henry.clarke@oak-securities.com (mailto:henry.clarke@oak-securities.com)

 IFC Advisory Limited (Financial PR and IR)                                     +44 (0) 203 934 6632

 Tim Metcalfe / Florence Staton

 switchmetals@investor-focus.co.uk (mailto:switchmetals@investor-focus.co.uk)

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDJFMBTMTBTTFF



            Copyright 2019 Regulatory News Service, all rights reserved