Completion of initial RC drilling campaign at Atex

Firering Strategic Minerals PLC

05 March 2024

 

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

5 March 2024

Firering Strategic Minerals Plc

 ("Firering" or the "Company")

Completion of initial RC drilling campaign at Atex

Firering, an exploration company focusing on critical minerals, is pleased to announce that it has completed its 3,000m Reverse Circulation ("RC") drilling campaign at Atex, its flagship lithium project in Côte d'Ivoire.

Highlights

·    23 RC holes drilled for a total of 3,753 metres.

·    all samples have now been sent to Intertek for assaying and results are expected in the coming weeks

Yuval Cohen, Chief Executive Officer of Firering, said:

"I am pleased to announce the completion of our initial RC drilling campaign at Atex.  A total of 23 holes were drilled for a total meterage of 3,753m.  All samples were sent to Intertek for assaying and we look forward to report the results in the coming weeks."

Completion of initial RC drilling campaign

A total of 23 holes were drilled (refer Figure 1) for a total of 3,753m of drilling, giving an average hole depth of 163.2m.  All RC holes were logged and sampled at 1m intervals.  All fresh pegmatite samples were sent to Intertek Laboratories in Côte d'Ivoire for sample preparation, after which the prepared samples were sent to Intertek Laboratories in Australia for assaying. Assay results are expected in the coming weeks.

Figure 1: Plan view of the completed 2022 DD holes and 2024 RC holes

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.

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For further information and updates on Firering's exploration programme, visit www.fireringplc.com. or contact the following:

Firering Strategic Minerals Yuval Cohen Vassilios Carellas	Tel: [phone]
SPARK Advisory Partners Limited Nominated Adviser Neil Baldwin / James Keeshan / Adam Dawes	Tel: [phone]
Optiva Securities Limited Joint Broker Christian Dennis / Daniel Ingram	Tel: [phone]
Shard Capital Partners LLP Joint Broker Damon Heath/ Erik Woolgar St Brides Partners Limited Financial PR Ana Ribeiro / Susie Geliher / Isabelle Morris	Tel : [phone] T: [phone] E: [e-mail]

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 strategic minerals in Côte d'Ivoire, specifically 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's main focus is to advance development at Atex with a view to establishing a maiden lithium resource and then progressing a Lithium project through to DFS.  Firering is also assessing pilot scale production of ethically sourced tantalum and niobium to generate early revenues and support further exploration work.  Should pilot production be successful, a large-scale tantalum production facility may 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.  Firering also has an option to acquire up to 28.33% of Limeco Resources Limited which is commissioning a lime plant in Zambia.

Forward-Looking Statements

This announcement may contain some references to forecasts, estimates, assumptions and other forward-looking statements. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions, it can give no assurance that they will be achieved. They may be affected by a variety of variables and changes in underlying assumptions that are subject to risk factors associated with the nature of the business, which could cause actual results to differ materially from those expressed herein.

 

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