TIDMFRG
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 @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 EUR7,500,000) 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.
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Nb Niobium.
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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.
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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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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.
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Ta Tantalum.
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END
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