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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 3.70 | 3.60 | 3.80 | 3.70 | 3.70 | 3.70 | 331,032 | 08:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 0 | -2.41M | -0.0131 | -2.82 | 6.82M |
From Mar 2022 to Mar 2025
TIDMFRG
RNS Number : 7208C
Firering Strategic Minerals PLC
13 October 2022
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
13 October 2022
Firering Strategic Minerals plc
("Firering" or "the Company")
First Phase D iamond Drilling Complete - Awaiting Lithium Assays
- Pegmatite Intersected in Every Hole with Visual Mineralisation Identified in
18 out of the 19 holes Drilled -
Firering Strategic Minerals plc, an exploration company focusing on critical minerals, is pleased to announce the results and completion of its Phase 1 diamond drill ("DD") programme on its flagship Atex Lithium-Tantalum Project ("Atex"), in Côte d'Ivoire.
Highlights
-- Drilled the final eight holes of the Phase 1 DD programme, resulting in a total of 19 holes drilled and 3,039m of drilling.
-- Pegmatite intersected in all 19 drill holes.
-- Visual identification of lithium mineralisation in 18 of the 19 drill holes. Intercepts include:
o Hole 4: 9.3m (apparent thickness) showing spodumene and lepidolite.
o Hole 4: 19.8m (apparent thickness) showing spodumene.
o Hole 5: 11.6m (apparent thickness) showing spodumene.
o Hole 6: 20.3m (apparent thickness) showing spodumene.
o Hole 8: 11.2m (apparent thickness) showing spodumene.
o Hole 11: 21.5m (apparent thickness) showing spodumene.
o Hole 18: 16.7m (apparent thickness) showing spodumene and lepidolite.
-- Prepared half-core samples for assaying with the first results expected during Q4 2022.
-- Twenty samples were collected from the drill core for future petrographic (thin sections) and X-ray diffraction ("XRD") analysis.
-- Samples of colluvium and weathered pegmatite were sent to Cormet in South Africa for metallurgical test work.
Nineteen diamond drill holes were completed around and along strike from Spodumene Hill
-- Have now successfully completed a total of nineteen diamond drill ("DD") holes targeting the potential Li-bearing pegmatites for a total of 3,039m.
-- All drill holes have been drilled at a dip of 50 degrees to either the northwest or southeast to intersect the steeply dipping, north-northeast striking pegmatites (see map overleaf).
Yuval Cohen, Chief Executive of Firering, said:
"I am pleased to provide our next update regarding our Phase 1 core drilling programme, which has been completed successfully. Nineteen holes were drilled, and pegmatites were intersected in every hole. Lithium mineralisation was visually observed in eighteen out of the nineteen holes, and we are now eagerly awaiting the assay results, the first of which should arrive during Q4 2022. We look forward to providing the market with these assay results in due course".
Map showing all nineteen drill holes and eight trenches completed across and along strike from Spodumene Hill.
Initial visual observations of the drill core
-- All nineteen holes drilled intersected pegmatites and have been logged in detail. -- Visible lithium mineralisation is present in eighteen out of the nineteen holes.
-- The first batch of prepared half-core samples arrived at Intertek Laboratories in Perth on 21 September 2022 for assaying.
-- First assay results are expected in Q4 2022.
-- XRD and petrographic (thin section) analysis on the 20 samples selected from the drill core will commence once assay results have come in.
-- Additional XRD analysis will also be conducted on the basis of the assay results.
Results of all nineteen holes drilled during Phase 1 are shown in the table below.
Hot Features
Premium
Hole ID Hole depth (m) Azimuth Dip Comments
UTM29N/WGS84 (magnetic)
---------- --------------- ----------------- ------- ----------------
Easting (m) Northing (m) Elevation (m)
---------- ------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0001 775076 1097616 405 199 124deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
TVDD0002 774969 1097497 403 201.1 124deg -50deg No visible
lithium
mineralisation
observed
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0003 775278 1097417 407 200.95 304deg -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0004 775176 1097723 390 161.6 124deg -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0005 775218 1097384 409 131.8 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0006 775195 1097311 407 122.7 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0007 775393 1097775 397 209.7 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0008 775059 1097204 403 161.7 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0009 774881 1097280 403 149.8 124deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0010 775142 1097741 397 200.75 124deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0011 775312 1097453 402 157.9 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0012 775252 1097364 401 131.8 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
TVDD0013 775234 1097293 408 164.6 304deg -50deg spodumene
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0014 774817 1097154 399 111 124 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0015 774780 1096969 406 136 124 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0016 774958 1096651 409 212.6 124 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0017 774882 1096936 405 131.7 124 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0018 775280 1097668 405 119.6 304 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Visible
spodumene and
TVDD0019 775299 1097551 408 134.8 304 -50deg lepidolite
------------ ------------- -------------- --------------- ----------------- ------- ----------------
Some photographs of recent core with visible spodumene (left) and spodumene and lepidolite (right).
Pegmatite intercepts of 1m or more are shown in the following table.
Hole From Intersection Lithium mineralisation
ID (m) To (m) length (m) observed
TVDD0001 53.5 57.5 4 Spodumene
------- ------- ------------- -----------------------
TVDD0002 4.85 6.75 1.9
------- ------- ------------- -----------------------
TVDD0002 68.3 69.68 1.38
------- ------- ------------- -----------------------
TVDD0002 72.02 73.05 1.03
------- ------- ------------- -----------------------
TVDD0002 78.6 81.61 3.01
------- ------- ------------- -----------------------
TVDD0002 98.72 100.1 1.38
------- ------- ------------- -----------------------
TVDD0003 37.25 44.7 7.45
------- ------- ------------- -----------------------
TVDD0003 44.7 48.65 3.95 Spodumene
------- ------- ------------- -----------------------
TVDD0003 48.65 52.6 3.95
------- ------- ------------- -----------------------
TVDD0003 60.7 89.6 28.9
------- ------- ------------- -----------------------
TVDD0003 111.1 112.65 1.55
------- ------- ------------- -----------------------
TVDD0004 67.7 69.05 1.35 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 69.53 71.47 1.94
------- ------- ------------- -----------------------
TVDD0004 71.64 75.37 3.73 Spodumene
------- ------- ------------- -----------------------
TVDD0004 75.94 81.84 5.9 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 81.84 85.5 3.66 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 85.5 91.2 5.7 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 91.2 100.45 9.25 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 100.75 104.9 4.15 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0004 104.9 107 2.1
------- ------- ------------- -----------------------
TVDD0004 107 126.8 19.8 Spodumene
------- ------- ------------- -----------------------
TVDD0004 126.8 129.11 2.31 Spodumene
------- ------- ------------- -----------------------
TVDD0004 129.91 133.7 3.79
------- ------- ------------- -----------------------
TVDD0004 133.7 138.61 4.91
------- ------- ------------- -----------------------
TVDD0004 138.61 139.95 1.34
------- ------- ------------- -----------------------
TVDD0005 38.85 44.42 5.57
------- ------- ------------- -----------------------
TVDD0005 60.9 72.53 11.63 Spodumene
------- ------- ------------- -----------------------
TVDD0005 72.53 78.92 6.39 Lepidolite
------- ------- ------------- -----------------------
TVDD0005 78.92 80.2 1.28 Lepidolite
------- ------- ------------- -----------------------
TVDD0005 80.2 81.93 1.73
------- ------- ------------- -----------------------
TVDD0006 16.05 20 3.95
------- ------- ------------- -----------------------
TVDD0006 20 22.85 2.85
------- ------- ------------- -----------------------
TVDD0006 22.85 26.3 3.45
------- ------- ------------- -----------------------
TVDD0006 26.3 32.3 6
------- ------- ------------- -----------------------
TVDD0006 32.3 44.4 12.1 Spodumene
------- ------- ------------- -----------------------
TVDD0006 44.4 56.8 12.4
------- ------- ------------- -----------------------
TVDD0006 56.8 60 3.2
------- ------- ------------- -----------------------
TVDD0006 60 64.55 4.55 Lepidolite
------- ------- ------------- -----------------------
TVDD0006 64.55 67.1 2.55 Spodumene
------- ------- ------------- -----------------------
TVDD0006 67.1 87.4 20.3 Spodumene
------- ------- ------------- -----------------------
TVDD0006 87.4 89.9 2.5
------- ------- ------------- -----------------------
TVDD0007 73.14 74.41 1.27
------- ------- ------------- -----------------------
TVDD0007 82.1 83.71 1.61
------- ------- ------------- -----------------------
TVDD0007 185.6 191.04 5.44 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0007 196.57 199.24 2.67
------- ------- ------------- -----------------------
TVDD0008 31 42.24 11.24 Spodumene
------- ------- ------------- -----------------------
TVDD0008 52.58 58 5.42 Spodumene
------- ------- ------------- -----------------------
TVDD0008 103.68 104.83 1.15
------- ------- ------------- -----------------------
TVDD0009 23.61 38.19 14.58
------- ------- ------------- -----------------------
TVDD0009 44.3 45.63 1.33 Spodumene
------- ------- ------------- -----------------------
TVDD0009 50.34 58.01 7.67 Spodumene
------- ------- ------------- -----------------------
TVDD0009 69.03 70.79 1.76
------- ------- ------------- -----------------------
TVDD0010 58.15 62.78 4.63 Spodumene
------- ------- ------------- -----------------------
TVDD0010 66.56 68.69 2.13 Lepidolite
------- ------- ------------- -----------------------
TVDD0010 95.54 108.04 12.5 Spodumene
------- ------- ------------- -----------------------
TVDD0010 153.35 157.07 3.72 Spodumene
------- ------- ------------- -----------------------
TVDD0010 158.7 162.35 3.65 Spodumene
------- ------- ------------- -----------------------
TVDD0010 185.52 186.56 1.04 Lepidolite
------- ------- ------------- -----------------------
TVDD0011 6.4 7.75 1.35
------- ------- ------------- -----------------------
TVDD0011 40.82 44.28 3.46 Spodumene
------- ------- ------------- -----------------------
TVDD0011 49.21 50.64 1.43 Spodumene
------- ------- ------------- -----------------------
TVDD0011 53.2 54.55 1.35 Spodumene
------- ------- ------------- -----------------------
TVDD0011 54.55 76 21.45 Spodumene
------- ------- ------------- -----------------------
TVDD0011 76 78.64 2.64
------- ------- ------------- -----------------------
TVDD0011 78.64 84.75 6.11
------- ------- ------------- -----------------------
TVDD0012 27 32.27 5.27 Spodumene
------- ------- ------------- -----------------------
TVDD0012 33.95 38.8 4.85 Spodumene
------- ------- ------------- -----------------------
TVDD0012 38.8 46.3 7.5 Spodumene
------- ------- ------------- -----------------------
TVDD0012 46.3 59.05 12.75
------- ------- ------------- -----------------------
TVDD0013 61.42 70.37 8.95
------- ------- ------------- -----------------------
TVDD0013 85.15 96.18 11.03 Spodumene
------- ------- ------------- -----------------------
TVDD0014 31.09 39.4 8.31 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0014 39.4 44.44 5.04
------- ------- ------------- -----------------------
TVDD0015 30.1 41.57 11.47 Lepidolite
------- ------- ------------- -----------------------
TVDD0015 87.72 91.43 3.71
------- ------- ------------- -----------------------
TVDD0016 10.7 18.71 8.01
------- ------- ------------- -----------------------
TVDD0016 34.04 50.02 15.98
------- ------- ------------- -----------------------
TVDD0016 50.64 55.74 5.1
------- ------- ------------- -----------------------
TVDD0016 65.2 69.02 3.82
------- ------- ------------- -----------------------
TVDD0016 72.74 84.37 11.63
------- ------- ------------- -----------------------
TVDD0016 91.31 104.88 13.57 Spodumene
------- ------- ------------- -----------------------
TVDD0016 104.88 107.7 2.82
------- ------- ------------- -----------------------
TVDD0016 122.25 123.28 1.03
------- ------- ------------- -----------------------
TVDD0016 138.36 139.4 1.04
------- ------- ------------- -----------------------
TVDD0016 141.1 152.3 11.2
------- ------- ------------- -----------------------
TVDD0016 152.3 171.62 19.32 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0016 171.62 184.43 12.81
------- ------- ------------- -----------------------
TVDD0016 184.43 186.18 1.75
------- ------- ------------- -----------------------
TVDD0016 186.18 195.39 9.21 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0017 17.7 24.4 6.7 Spodumene
------- ------- ------------- -----------------------
TVDD0017 26.6 28.4 1.8
------- ------- ------------- -----------------------
TVDD0017 29.4 37.45 8.05 Lepidolite
------- ------- ------------- -----------------------
TVDD0018 67.51 70.99 3.48 Lepidolite
------- ------- ------------- -----------------------
TVDD0018 77.39 79.48 2.09 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0018 79.48 82.77 3.29 Spodumene
------- ------- ------------- -----------------------
TVDD0018 82.77 99.5 16.73 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0018 99.5 102.33 2.83 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0019 60.42 67.12 6.7 Spodumene + Lepidolite
------- ------- ------------- -----------------------
TVDD0019 71.53 81.34 9.81 Spodumene
------- ------- ------------- -----------------------
TVDD0019 81.34 92.46 11.12 Spodumene
------- ------- ------------- -----------------------
Note: Intersections show apparent thickness, not true thickness. The relationship between true and apparent thickness has not yet been established.
Metallurgical test work
-- All planned pits, including three additional pits, on and around Spodumene Hill were completed.
-- All pits were sampled and analysed for tantalum using Firering's new Vanta pXRF.
-- Composite samples containing tantalum were prepared and sent to Coremet in Johannesburg, South Africa, in September 2022 for metallurgical test work.
-- A separate sample of 30kg of lepidolite was also sent to Coremet for test work.
Environmental and Social Governance
-- Officially opened an additional water borehole in the nearby village of Touvré on 21 September 2022 in the presence of local, regional and national authorities (see photographs below).
Pictures taken during the official opening of the water borehole in Tounvré, 21 September 2022.
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 1177 Yuval Cohen Tim Daniel 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. Provided pilot production is successful, a large-scale Tantalum production facility will 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.
Glossary of Technical Terms
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
Lepidolite Lepidolite is a purple to lilac-grey or rose-coloured member of the mica group of minerals.
It has chemical formula K(Li,Al)(3) (Al, Si)(4) O(10) (F,OH)(2) . It is part of the polylithionite,
lepidolite, and trilithionite group of minerals which share similar properties and but have
varying ratios of lithium and aluminium in their chemical formulas and a potential secondary
source of lithium.
-----------------------------------------------------------------------------------------------------
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.
-----------------------------------------------------------------------------------------------------
XRD x-Ray diffraction (XRD), or x-ray powder diffraction, utilizes x-ray radiation on crystalline
organic and inorganic samples. The rays are diffracted in a pattern determined by the position,
arrangement, and size of the constituents of the crystal.
-----------------------------------------------------------------------------------------------------
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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