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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Firering Strategic Minerals Plc | LSE:FRG | London | Ordinary Share | CY0109692117 | ORD EUR0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.20 | 6.45% | 3.30 | 3.20 | 3.40 | 3.30 | 3.25 | 3.25 | 1,055,010 | 13:41:32 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Offices-holdng Companies,nec | 1.61M | -84k | -0.0008 | -41.25 | 3.36M |
TIDMFRG
RNS Number : 1753R
Firering Strategic Minerals PLC
25 October 2023
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
25 October 2023
Firering Strategic Minerals Plc
("Firering" or the "Company")
Commencement of Part 2 of Phase II 5,000m auger drilling campaign at Atex
3,000m of RC drilling campaign planning well advanced
Firering, the exploration company focusing on critical minerals, is pleased to announce that it has commenced Part 2 of its auger drilling campaign at its flagship Atex Lithium-Tantalum Project ("Atex"), in Côte d'Ivoire. This auger drilling campaign will target three new pegmatite zones that were identified during the soil sampling campaign (announced on 22 June 2023).
In addition, a Reverse Circulation ("RC") drilling campaign is in the final stages of planning for Q4 2023 and will seek to build upon some of the significant assay results obtained from our previous 3,000m diamond drill campaign.
Highlights
-- A total of 840 holes for c.5,000m of auger drilling are planned. -- Three new pegmatite zones being targeted. -- Final hole locations for c.3,000m of RC drilling have been decided on. -- RC drilling contract is well advanced and will be announced shortly.
Yuval Cohen, Chief Executive Officer of Firering, said:
"I am pleased to announce the commencement of a further c5,000m of auger drilling following the recent successful campaign which confirmed some of the six new pegmatite zones identified during our soil sampling campaign. In addition, final hole locations for an initial c.3,000m of RC drilling have been decided on. We expect to announce the RC drilling contract shortly and commence RC drilling in Q4.
"The success of any exploration campaign is measured by the start of a new campaign. We have been encouraged by the results of our campaigns to date and are optimistic that the results of the next phase of our auger drilling and the start of the RC drilling will further strengthen the potential of the Atex project taking us one step closer to becoming the first lithium producing project in Côte d'Ivoire.
"We will continue to update the market with our achievements at Atex".
Commencement of Part 2 of Phase II auger drilling
Part 2 of the Phase II auger drilling campaign follows the successful completion of the first part of the Phase II auger drilling campaign in August 2023. Part 2 will start in Area 4, where several east-west orientated pegmatites were identified during the detailed mapping exercise, followed by Area 5, west of Tounvré, and Area 3, east of Spodumene Hill. A total of 840 holes have been planned for c. 5,000m of drilling. All planned auger lines are shown in Figure 2. As in Part 1, all auger holes will be geologically logged and End of Hole ("EOH") samples will be tested with the pXRF in Firering's lab in Tounvré.
Commencement of initial 3,000m of RC drilling
Final RC hole locations for the initial 18 holes for c.3,000m of RC drilling have been decided on and are shown in Figure 3. The RC campaign is due to start in due course and should be completed over the course of 4 weeks. All RC holes will be logged and sampled at 1m intervals with all fresh pegmatite samples sent to Intertek Laboratories in Perth, Australia for assaying. The drilling is planned to intersect fresh pegmatite beneath the weathered pegmatite identified during Part 1 of the auger drilling campaign and to test the potential lithium mineralisation of the pegmatites. Assay results are expected during Q1 2024 and will be used to direct future drilling programmes. The RC contract discussions are well advanced and will be announced shortly.
Figure 1 : Map showing the nine target areas identified and mapped in detail during the soil sampling campaign. Part 1 of Phase II auger drilling focused on Areas 1, 2 and 6; Part 2 will focus on Areas 3, 4 and 5.
Figure 2 : Map showing the planned auger lines for Part 2 of the Phase II auger drilling campaign.
Figure 3 : Plan view of Tounvre RC drilling programme.
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 AMED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.
***S ***
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 Yuval Cohen 1177 Vassilios Carellas SPARK Advisory Partners Limited Tel: +44 20 3368 Nominated Adviser 3550 Neil Baldwin / James Keeshan / Adam Dawes Optiva Securities Limited Tel: +44 20 3137 Broker 1903 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 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 working together with Australian diversified minerals company Ricca Resources 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 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. Firering also has an option to acquire up to 28.33% of Limeco Resources Limited which is commissioning a lime plant in Zambia and is expected to reach full production and first sales by the end of 2023.
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.
JORC TABLE 1
Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) -------------------------------------------------------------- Sampling techniques * Nature and quality of sampling (e.g. cut channels, * Soil samples weighing approximately 2-2.5kg were random chips, or specific specialised industry collected from a 25-30cm diameter hole. The surficial standard measurement tools appropriate to the humus and debris cleared prior to excavation of the minerals under investigation, such as down hole gamma shallow hole and the sample collected from the sondes, or handheld XRF instruments, etc). These B-horizon and placed into pre-numbered plastic bags. examples should not be taken as limiting the broad Oversize material was discarded. meaning of sampling. * Sample tickets inserted into the bags which were then * Include reference to measures taken to ensure sample sealed with a cable-tie or taped shut. representivity and the appropriate calibration of any measurement tools or systems used. * Sample holes were backfilled and locations marked with a stick (peg) and flagging tape with the sample * Aspects of the determination of mineralisation that ID marked. are Material to the Public Report.
* Duplicate samples were collected from locations where * In cases where 'industry standard' work has been done pegmatite material was sampled. this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g * Areas of anthropogenic disturbances were avoided such charge for fire assay'). In other cases more as roads and artisanal workings. However, cultivated explanation may be required, such as where there is fields were sampled. Streams, riverbeds and swamps coarse gold that has inherent sampling problems. were also avoided. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. * QAQC samples comprising certified reference materials, blanks and field duplicates were inserted at regular intervals into the sample stream. * Samples were dried, hand crushed, sieved * Sample analysis was done by LIBS for lithium and a multi-element suite, including LCT pegmatite pathfinder elements (such as Sn, Ta, Rb) by pXRF. * Uncased auger drilling was used to collect soil samples for Part 1 of Phase 2. All holes were drilled to the top saprolite, an extra 1-2m if lithology isn't recognisable. * Each site was cleared of debris and plant material prior to drilling and levelled. * Holes that failed to progress beyond 2m were redrilled to mitigate the eventuality a hole encountered a boulder and to ensure that the maximum depth could be reached to collect a suitable sample from as close to the top of saprolite as possible. A total of 1039 holes have been drilled to date. * Holes varied between 1m and 18m in depth. The samples were collected at 1m intervals, weighing approximately 10kg. * The samples were then riffle split to produce a nominal 3-5kg subsample. Any oversize material was coned and quartered and added to the primary sample and reject sample bags. Additional splitting was conducted on samples >5kg. * The primary focus of this sampling is to identify and confirm pegmatites within the target areas identified from the previously completed soil sampling. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. ------------------------------------------------------------ -------------------------------------------------------------- Drilling techniques * Drill type (e.g. core, reverse circulation, open-hole * Uncased auger drilling is used to collect samples at hammer, rotary air blast, auger, Bangka, sonic, etc) 1m intervals. and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by * The drilling was conducted by Royal Mining, a company what method, etc). based in Abidjan using 2x Drilling Equipment Plant LTD manufactured rigs and towed by a Jiang Fa 2500 tractor. The rigs total depth capability was 18m. * All holes were drilled vertically. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. ------------------------------------------------------------ -------------------------------------------------------------- Drill sample recovery * Method of recording and assessing core and chip * 1039 auger soil samples were collected during For sample recoveries and results assessed. Part 1 of Phase 2, weighing between 2kg and 6.0kg, averaging 3.0kg. * Measures taken to maximise sample recovery and ensure representative nature of the samples. * Sample recoveries are considered suitably representative for the purposes of target generation. * Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. ------------------------------------------------------------ -------------------------------------------------------------- Logging * Whether core and chip samples have been geologically * All the auger holes were geologically logged at 1m and geotechnically logged to a level of detail to sample intervals. support appropriate Mineral Resource estimation, mining studies and metallurgical studies. * All samples were photographed. * Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. * The total length and percentage of the relevant intersections logged. ------------------------------------------------------------ -------------------------------------------------------------- Sub-sampling techniques * If core, whether cut or sawn and whether quarter, * The soil samples were processed at FSM's camp in and sample half or all core taken. Tounvré. preparation * If non-core, whether riffled, tube sampled, rotary * Samples were oven dried for up to 120 mins and then split, etc and whether sampled wet or dry. pulverised with a motor and pestle until all material passed through 0.16mm sieve. * For all sample types, the nature, quality and appropriateness of the sample preparation technique. * 2 pulp samples of 100-200g of the screened material
was then collected, one bagged and labelled for despatch to Ricca Resources laboratory in Ghana and * Quality control procedures adopted for all the duplicate remained as reference pulp sample in sub-sampling stages to maximise representivity of Tounvré camp. The remaining material was samples. retained. * Measures taken to ensure that the sampling is * In Ghana a pressed pellet was produced from the representative of the in situ material collected, sample using a manual hydraulic press and the including for instance results for field remaining sample retained. duplicate/second-half sampling. * The 1m auger samples were riffle split on site to * Whether sample sizes are appropriate to the grain obtain a nominal 5kg subsample. A 5kg (or of similar size of the material being sampled. mass) duplicate sample was also prepared for each sample from the reject material and has been retained on site. Wet clay samples are coned and split by hand and dried in the oven with other samples. * The sample captured from the drill string is placed in 50cm wide washing tubs hand mixed and spilt through a 50:50 splitter. * The auger samples are being processed at FSM's camp in Tounvré. * Samples were oven dried for up to 120 mins and then pulverised with a motor and pestle until sufficient material passed through 0.16mm sieve. * A subsample comprising a 100g scoop from each metre sample is taken and placed in plastic bag for air drying and pXRF and at Touvre base. * The 3-5kg EOH field samples is split 50:50 at camp with this primary sample being prepped and the field duplicate stored at FSM's camp. The primary 2.5kg sample is prepped and generates two 100g minus 160micron subsamples. One is bagged and labelled for despatch to Ricca Resources laboratory in Ghana and the duplicate remained as reference pulp sample in Tounvré camp. The coarse reject is discarded. The auger top of saprolite samples are considered suitable for identifying exploration targets. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. ------------------------------------------------------------ -------------------------------------------------------------- Quality of assay * The nature, quality and appropriateness of the * The soil samples were couriered to Ricca Resources data and assaying and laboratory procedures used and whether Ghana laboratory where they will be subject to laboratory the technique is considered partial or total. industry accepted sample preparation and multi tests element analysis by pXRF for 34 elements including Rb, Sn, Nb and Zr and LIBS for Li. * For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, * Olympus Vanta XRF Analyzer model VMR series was used reading times, calibrations factors applied and their in reading multi-element suite and SciAps LIBS derivation, etc. analyser for reading and Li and selected elements. * Nature of quality control procedures adopted (e.g. * Internal laboratory QAQC checks analysis on its own standards, blanks, duplicates, external laboratory certified reference material of standards and blanks checks) and whether acceptable levels of accuracy /inserted at regular interval into the sample stream (i.e. lack of bias) and precision have been are reported. established. * QAQC performance was monitored and reviewed by Ricca and demonstrated the results are acceptable for the reporting of the results. * The Competent Person is satisfied that the results of the QAQC are acceptable and that the assay data from are suitable for the reporting of exploration results. * Geophysical instruments were not used in assessing the mineralisation. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. ------------------------------------------------------------ -------------------------------------------------------------- Verification of sampling * The verification of significant intersections by * CSA Global (CSA) has not observed any of the sampling and assaying either independent or alternative company personnel. process executed by Ricca Resources sampling team. * The use of twinned holes. * No verification sampling was done. * Documentation of primary data, data entry procedures, * The auger logging and sampling data are captured on data verification, data storage (physical and tablets that were imported into a SQL database electronic) protocols. managed by CSA Global. * Discuss any adjustment to assay data. * The field programme is being managed by Ricca Resources * All hole locations are recorded on a handheld GPS on tablets. * All data is stored locally on a laptop computer and also backed-up onto the cloud. * The assay data presented has not been adjusted.
------------------------------------------------------------ -------------------------------------------------------------- Location of data * Accuracy and quality of surveys used to locate drill * All soil sampling locations were captured using a points holes (collar and down-hole surveys), trenches, mine handheld GPS The information was then transferred to workings and other locations used in Mineral Resource the logging Excel spreadsheets. estimation. * Coordinates are relative to WGS84 UTM zone 29P. * Specification of the grid system used. * The locations are considered suitably accurate for * Quality and adequacy of topographic control. the purpose of reporting exploration results. * The auger hole locations were recorded using a handheld GPS device. * Coordinates are relative to WGS84 UTM zone 29P. * The locations are considered suitably accurate for the purpose of reporting exploration results. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. * The results will not be used in any Mineral Resource estimation. ------------------------------------------------------------ -------------------------------------------------------------- Data spacing and * Data spacing for reporting of Exploration Results. * Soil sampling was completed on east-west grid with distribution lines spaced at 100m apart and samples collected at 100m intervals along the lines to create a 100x100m * Whether the data spacing and distribution is sample grid across the Atex licence. sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and * The spacing is considered suitable to determine classifications applied. targets associated with LCT pegmatites for follow-up exploration work. * Whether sample compositing has been applied. * No sample compositing was done. * Auger lines for Part 1 of Phase II were laid out along a northeast-southwest pattern with lines spaced 150 m apart covering selected soil anomalies. Station spacing along the lines orientated in a northwest-southeast direction is 20m. * The auger lines for Part 2 of Phase II have been planned along a northeast-southwest orientation for areas 2 and 3, and a northeast-southwest orientation for area 4, with lines spaced 160 m apart covering selected soil anomalies. Station spacing along the lines orientated in a northwest-southeast direction is 20m. * The spacing is considered suitable to determine targets for follow-up work. * No sample compositing was done. ------------------------------------------------------------ -------------------------------------------------------------- Orientation of data in * Whether the orientation of sampling achieves unbiased * Soil sampling was completed on east-west grid with relation sampling of possible structures and the extent to lines spaced at 100m apart and samples collected at to which this is known, considering the deposit type. 100m intervals along the lines to create a 100x100m geological sample grid across the Atex licence and was suitable structure to delineate a number of soil anomalies for targeted * If the relationship between the drilling orientation follow up in the subsequent auger programme and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. * Individual auger lines are orientated northwest-southeast (perpendicular to the inferred orientation of the pegmatite at Spodumene Hill), and trend of the soil anomalies, and lines spaced at 150m along a northeast-southwest orientation. Orientation of the planned auger lines in Area 4 is northeast-southwest. * The grid was designed to determine potential strike extents to the northeast-southwest striking Spodumene Hill pegmatite (and east west orientation pegmatites in Area 4) and also test a number of the additional soil anomalies identified from the soil sampling programme * No relationship has been establishing between the interpreted pegmatite intercepts from the auger holes and true widths. * The results will not be used in any Mineral Resource estimation. ------------------------------------------------------------ -------------------------------------------------------------- Sample security * The measures taken to ensure sample security. * All soil and auger samples were collected, labelled and bagged on site by the Ricca exploration team. * At the end of each day the samples were placed in large plastic bags and large plastic labelled bags. Each bag usually contained samples from one hole. * Samples were secured and stored in FSMs core yard
facility in Tounvré where the sample preparation was also done. * Sample batches of the prepared sample material were then dispatched to Ricca Resources' laboratory in Ghana for assay by LIBS and pXRF. * Sample transport to Ghana was managed by Ricca Resources and facilitated by Intertek Yamoussoukro Prep lab, which delivered the samples to Ghana on behalf of Ricca Resources * A chain of custody sheet was verified and signed off at each stage in transit before in get to the Laboratory in Ghana and finally checked and signed by the recipient. * The sample lists were submitted to the Ricca Resources laboratory in Ghana electronically and checked by the recipient against what was received. * Batch tracking file is updated regularly, considering the status of samples dispatched and results received. * The same methods and protocols are being used in Part 2 of Phase II of the auger drilling. ============= ------------------------------------------------------------ -------------------------------------------------------------- Audits or reviews * The results of any audits or reviews of sampling * The soil sampling and auger sampling technique was techniques and data. reviewed by Ricca Resources and the Competent person. * Regular reviews of the data and assay results have been conducted to ensure the data are suitable for target generation purposes. * Discussions were also held with key technical staff from Ricca Resources regarding the geology, sampling and data capture they conducted. * The Competent Person considers that the exploration work conducted to date is using appropriate techniques for the style of mineralisation and is suitable for the reporting of the exploration results. ------------------------------------------------------------ -------------------------------------------------------------- Section 2 Reporting of Exploration Results (Criteria listed in the previous section also apply to this section.) Mineral tenement * Type, reference name/number, location and ownership * The Atex exploration permit was issued as PR-777 on 6 and land including agreements or material issues with third December 2017 to Atex Mining Resources and was valid tenure status parties such as joint ventures, partnerships, for 4 years, expiring in December 2021. In March overriding royalties, native title interests, 2021, Firering Holdings acquired 51% of Atex Mining historical sites, wilderness or national park and and has an option to acquire an additional 39%. environmental settings. * PR-777 has been renewed for an additional three years * The security of the tenure held at the time of for Li, expiring on 5 December 2024. The Mining Code reporting along with any known impediments to of Ivory Coast allows for the adding of other obtaining a licence to operate in the area. commodities, e.g. Ta and Au when found during exploration activities. --------------- --------------------------------------------------------------- -------------------------------------------------------------- Exploration done by other * Acknowledgment and appraisal of exploration by other * Within PR-777 limited exploration work comprising parties parties. geological mapping and prospecting focussed on the eluvial, alluvial and pegmatite hosted columbo-tantalite mineralisation was done between 1953 and 1963. This work identified the area to have "good" potential for columbo-tantalite mineralisation as well some evidence of placer gold mineralisation around Touvre. * Adam (1966) conducted the systematic exploration in the area on behalf of SODEMI from 1965-1966. His work comprised non-systematic and systematic pitting, mapping, rock chip and mineral concentrate sampling. The work identified a number of areas with potentially economic columbo-tantalite mineralisation as well as the spodumene-lepidolite bearing pegmatite(s) around Spodumene Hill. His mapping also recognised 5 types of pegmatites in the area, namely: * lepidolite, muscovite, spodumene, columbo-tantalite type; * green muscovite, columbo-tantalite type; * green muscovite and beryl type; * muscovite, beryl type; and * biotite, magnetite type. * More recently, the permit was covered by a larger licence held by Perseus Mining Limited who were exploring for gold within the region. The results of
this exploration are unknown. * It is understood that they conducted airborne geophysical (magnetic and radiometric) surveys over the area. * The most recent exploration conducted has been by Atex Mining Resources who conducted mapping, rock chip sampling, limited drilling and licence wide soil sampling and focused auger drilling targeting the lithium potential of the licence and confirmed the presence of spodumene and lepidolite mineralisation in the area around Spodumene Hill. --------------------------------------------------------------- -------------------------------------------------------------- Geology * Deposit type, geological setting and style of * The Atex Project occurs in the western limit of the mineralisation. Bagoé Basin within Baoulé-Mossi domain of the West African Craton (WAC). The WAC comprises Archaean basement material and the surrounding Proterozoic granite-greenstone terranes (termed the Birimian or Birimian Supergroup). The Birimian rocks are synchronous with the Eburnean orogeny. The Baoulé-Mossi domain comprises a number of north-northeast to south-southwest to north-south arcuate belts that stretch hundreds of kilometres and are host to multiple gold, base metal, and pegmatite-hosted columbo-tantalite and lithium deposits that are spatially and temporally related to the Eburnean orogeny that took place between 2,250 and 1,980 Ma. * The geology of the Project area is underlain by Birimian metavolcanics and Eburnian-aged granitoid intrusions, including undeformed, late stage potassic granites considered to be genetically related to the pegmatites. * Historical work within the permit area has identified a number of pegmatite types within the licence area, including pegmatites that are prospective for lithium and columbo-tantalite mineralisation. The exploration work by Adam (1966) also identified surficial columbo-tantalite mineralisation associated with the pegmatites and weathering thereof. * Recently, several companies have demonstrated the potential for pegmatite-hosted lithium mineralisation in the region. These include Atlantic Lithium (previously IronRidge Resources) who have developed the Ewoyaa Lithium Project in Ghana, Firefinch (previously Mali Lithium) and their Goulamina project and Kodal Minerals with their Bougouni project bothin southern Mali. * The pegmatites within the Atex permit belong to the LCT-Rare Element group of pegmatites and includes the LCT spodumene-lepidolite bearing pegmatite at Spodumene Hill and muscovite-columbo-tantalite type pegmatites. * The pegmatites within the Atex Proiect are hosted in mafic schists, although some minor mica schist is also present, and comprise a series of steeply dipping north-northeast striking bodies. Less common are smaller east-west orientated pegmatites Current work by Firering Strategic Minerals has identified a number of pegmatite bodies around Spodumene Hill, which have been the focus of the current drilling campaign. * Several of these pegmatites have been identified to be potentially lithium bearing, with the lithium hosted in spodumene and lepidolite. * The area is also considered moderately prospective for orogenic Birimian gold mineralisation based on the local geology and proximity to a number of gold deposits in the broader region. Historical exploration in the 1960s also noted a small "placer" gold deposit close to Tounvré. --------------------------------------------------------------- -------------------------------------------------------------- Drill hole Information * A summary of all information material to the * All relevant maps showing the sample locations understanding of the exploration results including a results have been included in the announcement.
tabulation of the following information for all Material drill holes: * Geological results have been reported o easting and northing of the drill hole * Only lithium results have been reported for the soils collar as this data best summarises and highlights the o elevation or potential target areas identified. RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. * If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. --------------------------------------------------------------- -------------------------------------------------------------- Data aggregation * In reporting Exploration Results, weighting averaging * Results plotted and interpreted are based on the methods techniques, maximum and/or minimum grade truncations geology encountered in the end of hole auger sample. (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. * No data aggregation or metal equivalents have been reported. * Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. * The assumptions used for any reporting of metal equivalent values should be clearly stated. --------------- --------------------------------------------------------------- -------------------------------------------------------------- Relationship between * These relationships are particularly important in the * There is no relationship between the lithium results mineralisation reporting of Exploration Results. in the soil samples and possible pegmatite hosted widths and lithium mineralisation. intercept lengths * If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be * There is no relationship between the geological reported. results from the auger samples and possible pegmatite hosted lithium mineralisation. * If it is not known and only the down hole lengths are reported, there should be a clear statement to this * No relationship has been established with respect to effect (e.g. 'down hole length, true width not the target sizes and the size of potential pegmatite known'). hosted lithium mineralisation. However, the auger results do provide a more accurate delineation of the pegmatites for follow up drill targeting --------------- --------------------------------------------------------------- -------------------------------------------------------------- Diagrams * Appropriate maps and sections (with scales) and * Relevant maps are presented in the accompanying tabulations of intercepts should be included for any documentation. significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. --------------- --------------------------------------------------------------- -------------------------------------------------------------- Balanced reporting * Where comprehensive reporting of all Exploration * The reported exploration results from the Atex Results is not practicable, representative reporting project are related to the logged geology and assays of both low and high grades and/or widths should be from the soil sampling and logged geology from the practiced to avoid misleading reporting of auger drilling completed to date and have been Exploration Results. previously reported. --------------------------------------------------------------- -------------------------------------------------------------- Other * Not applicable. substantive * Other exploration data, if meaningful and material, exploration should be reported including (but not limited to): data geological observations; geophysical survey results; geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. --------------- --------------------------------------------------------------- -------------------------------------------------------------- Further work * The nature and scale of planned further work (e.g. * Additional exploration is planned, namely the planned tests for lateral extensions or depth extensions or RC drilling campaign, and summarised in the large-scale step-out drilling). accompanying documentation. This drilling has been planned to test the targets identified and establish whether the targets are associated with mineralised * Diagrams clearly highlighting the areas of possible pegmatites. extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. * Maps are included in the Report. --------------------------------------------------------------- --------------------------------------------------------------
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