Update on Maiden Resource Estimate at Issia

Switch Metals

27/03/2026 07:00

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
Karl Akueson, CEO
Andy Yeo, CFO
Via IFC Advisory
Allenby Capital Limited (Nominated Adviser & Joint Broker)
Corporate Finance: James Reeve / Nick Harriss
Sales: Kelly Gardiner / Lauren Wright/ Matt Butlin
+44 (0) 203 328 5656
OAK Securities (Lead Broker)
Jerry Keen, Head of Corporate Broking
jerry.keen@oak-securities.com
Henry Clarke, Head of Sales
henry.clarke@oak-securities.com
+44 (0) 203 973 3678
IFC Advisory Limited (Financial PR and IR)
Tim Metcalfe / Florence Staton
switchmetals@investor-focus.co.uk
+44 (0) 203 934 6632

 

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 or visit 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.

 
  END

 

 
UPDJFMBTMTBTTFF