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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.10 | -3.08% | 3.15 | 3.10 | 3.20 | 3.25 | 3.15 | 3.25 | 7,055 | 16:26:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Offices-holdng Companies,nec | 1.61M | -84k | -0.0008 | -39.38 | 3.21M |
From May 2023 to May 2024
TIDMFRG
RNS Number : 8634A
Firering Strategic Minerals PLC
30 May 2023
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
30 May 2023
Firering Strategic Minerals plc
("Firering" or "the Company")
Phase II Soil Sampling Programme Successfully Completed
14,116 samples sent to Ghana for pXRF and LIBS analysis
Firering Strategic Minerals plc, an exploration company focusing on critical minerals, is pleased to announce the successful completion 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 was 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(nd) November 2022.
Highlights:
-- Soil sampling programme completed; 14,116 soil samples taken, prepared and sent to Ghana for analysis by portable x-ray fluorescence spectrometry ("pXRF") and Laser Induced Breakdown Spectrometry ("LIBS");
-- Results for batches 1 to 7 and part of batch 8 (a total of 6,205 samples) received and plotted;
-- Several new and related pegmatite anomalies identified in the Atex licence area confirming areas of interest for auger drilling;
-- Final soil analysis and mapping to be concluded in the coming weeks to fine tune the auger drilling programme;
-- Coremet submitted its first draft report for the coltan test work concluding good response to magnetic separation and gravity concentration.
Yuval Cohen, Chief Executive of Firering, said:
"I am very pleased to announce that, after partnering with Ricca, we now have successfully completed our Phase II soil sampling programme, which commenced on 09 January 2023. A total of 14,116 soil samples were taken, prepared and sent to Ghana for pXRF and LIBS analysis. It is very encouraging that several pegmatite related anomalies have been identified, which will be considered as target in the next phase of auger drilling which will commence shortly.
"I am also pleased to announce that Cormet completed the coltan test work and submitted its draft report on 15 May 2023. Coremet's test work indicated that the material can be concentrated and resulted in an initial flowsheet for a gravity plant."
Soil Sampling
Phase II of the Atex soil sampling programme commenced on 9 January 2023 and was completed on 11 May 2023. A total of 14,116 soil samples were taken, prepared and sent to Ghana for pXRF and LIBS analysis (see Map 1 below). The results received have been interpreted and plotted for batches 1 to 7 and part of batch 8 (see Map 2 below). A further 7,911 results are pending, representing the remaining part of batch 8 and batches 9 to 11.
Map 1: Atex licence area, showing the completion of the Phase II soil sampling programme.
Map 2: Atex licence area, showing the lithium results from the LIBS analysis for batches 1 to 7 and part of batch 8; pXRF results for this area have also been received.
Coremet Test Work
High level test work undertaken by SGS/Coremet in Johannesburg, South Africa showed that:
-- The mineralogical analysis of the material indicated that all the tantalum and niobium is contained in Columbite;
-- The overwhelming majority of tantalum and niobium occurs in highly liberated Columbite particles; and
-- The material responded well to magnetic separation and gravity concentration.
Although further test work is required to produce a commercial concentrate, Coremet was able to develop an initial flow sheet for a gravity plant that needs to be tested to validate recovery values. Further exploration is also needed to assess the economic potential of the coltan mineralisation within the licence area.
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 related to the exploration results. 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. 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
Hot Features
Premium
Coltan/columbite Coltan (short for columbite-tantalite and known industrially as tantalite) is a dull
black
metallic mineral/mineral concentrate from which the elements niobium and tantalum are
extracted
for use various heat and corrosion resistant alloys and capacitors. Tantalite and
columbite
form a solid solution series of minerals ranging from Ta(2) O(5) (Tantalite) to columbite
(Nb(2) O(5) ) endmembers with a range of intermediary compositions (Ta,Nb)(2) O(5) .
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 but have
varying
ratios of lithium and aluminium in their chemical formulas and a potential secondary source
of lithium.
--------------------------------------------------------------------------------------------
Li Lithium.
--------------------------------------------------------------------------------------------
Li(2) O Lithium Oxide (Lithia) - an inorganic lithium compound used to assess lithium minerals.
Relationship
between Li and Li(2) O: Li(2) O = Li x 2.153
--------------------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------------------
Metasediments Sedimentary rocks that have been metamorphosed.
--------------------------------------------------------------------------------------------
Metavolcanics Volcanic rocks that have been metamorphosed.
--------------------------------------------------------------------------------------------
Pegmatite/LCT 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.
LCT pegmatites are pegmatites enriched in lithium, caesium and tantalite and an important
source of lithium.
--------------------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------------------
QA/QC Quality assurance and quality control. Use to assess the accuracy and reliability of assay
results.
--------------------------------------------------------------------------------------------
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.
--------------------------------------------------------------------------------------------
Ta Tantalum.
--------------------------------------------------------------------------------------------
XRD X-ray Diffraction 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.
--------------------------------------------------------------------------------------------
APPIX
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
JORC Code explanation Commentary
Criteria
Sampling * Nature and quality of sampling (e.g. cut channels, * Soil samples weighing approximately 2-2.5kg were
techniques 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
* Aspects of the determination of mineralisation that sampleID 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, villages and artisanal workings. However,
explanation may be required, such as where there is cultivated fields were sampled. Streams, riverbeds
coarse gold that has inherent sampling problems. and swamps 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.
* 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.
------------------------------------------------------------ -----------------------------------------------------------------
Drilling * Drill type (e.g. core, reverse circulation, open-hole * Not applicable. No drilling results are being
techniques hammer, rotary air blast, auger, Bangka, sonic, etc) reported.
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
what method, etc).
------------------------------------------------------------ -----------------------------------------------------------------
Drill * Method of recording and assessing core and chip * Not applicable. No drilling results are being
sample sample recoveries and results assessed. reported.
recovery
* Measures taken to maximise sample recovery and ensure
representative nature of the samples.
* 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 * Geological information regarding the geology.
and geotechnically logged to a level of detail to topography, soil type is collected at each sample
support appropriate Mineral Resource estimation, location and captured into the project database.
mining studies and metallurgical studies.
* This information has been used to update the
* Whether logging is qualitative or quantitative in geological maps and interpretation of the soil
nature. Core (or costean, channel, etc) photography. sampling results.
* The total length and percentage of the relevant
intersections logged.
------------------------------------------------------------ -----------------------------------------------------------------
Sub-sampling * If core, whether cut or sawn and whether quarter, * All samples were processed at FSM's camp in
techniques half or all core taken. Tounvré.
and
sample
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.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
------------------------------------------------------------ -----------------------------------------------------------------
Quality * The nature, quality and appropriateness of the * The prepared sample material was couriered to Ricca
of assaying and laboratory procedures used and whether Resources Ghana laboratory where they were subjected
assay the technique is considered partial or total. to industry accepted sample preparation and multi
data element analysis by pXRF for 34 elements including Rb,
and Sn, Nb and Zr and LIBS for 7 elements including Li.
laboratory * For geophysical tools, spectrometers, handheld XRF
tests 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 accepting for the
reporting of the results.
* The Competent Person is satisfied that the assay
results are suitable for the reporting of exploration
results.
* Geophysical instruments were not used in assessing
the mineralisation.
------------------------------------------------------------ -----------------------------------------------------------------
Verification * The verification of significant intersections by * CSA Global (CSA) has not observed any of the sampling
of either independent or alternative company personnel. process executed by Ricca Resources sampling team.
sampling
and
assaying * The use of twinned holes. * The logging and sampling data were captured onto
paper logs and transferred into an Excel spreadsheet
that was imported into a SQL database managed by CSA
* Documentation of primary data, data entry procedures, Global.
data verification, data storage (physical and
electronic) protocols.
* The field programme was managed by Ricca Resources.
* Discuss any adjustment to assay data.
* All data is stored locally on a laptop computer and
backed-up onto the cloud.
* The assay data has not been adjusted.
------------------------------------------------------------ -----------------------------------------------------------------
Location * Accuracy and quality of surveys used to locate drill * All hole locations were sited using a handheld GPS
of holes (collar and down-hole surveys), trenches, mine The information was then transferred to the logging
data workings and other locations used in Mineral Resource Excel spreadsheets.
points 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.
------------------------------------------------------------ -----------------------------------------------------------------
Data * Data spacing for reporting of Exploration Results. * Soil sampling grids were laid out along an east-west
spacing orientation with lines spaced at 100m apart and
and samples collected at 100m intervals along the lines
distribution * Whether the data spacing and distribution is to create a 100x100m sample grid across the Atex
sufficient to establish the degree of geological and licence.
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and
classifications applied. * The spacing is considered suitable to determine
targets associated with LCT pegmatites for follow-up
exploration work.
* Whether sample compositing has been applied.
* No sample compositing was done.
------------------------------------------------------------ -----------------------------------------------------------------
Orientation * Whether the orientation of sampling achieves unbiased * Soil sampling grids were laid out along an east-west
of sampling of possible structures and the extent to orientation with lines spaced a 100m apart and
data which this is known, considering the deposit type. samples collected at 100m intervals along the lines
in to create a 100x100m sample grid across the Atex
relation licence.
to * If the relationship between the drilling orientation
geological and the orientation of key mineralised structures is
structure considered to have introduced a sampling bias, this * The relationship between the size of the soils
should be assessed and reported if material. geochemical anomalies/targets and possible pegmatites
has not been established. Further exploration is
required to confirm the presence of pegmatites and
determine the size and nature of any mineralisation
that may be present.
------------------------------------------------------------ -----------------------------------------------------------------
Sample * The measures taken to ensure sample security. * All samples were collected, labelled and bagged on
security site by the Ricca exploration team.
* 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.
============= ------------------------------------------------------------ -----------------------------------------------------------------
Audits * The results of any audits or reviews of sampling * The soil sampling technique and assay methodology
or techniques and data. have been reviewed by Mr Michael Cronwright of CSA
reviews Global, the Competent Person.
* Regular reviews of the data and assay results have
been conducted to ensure the data are suitable for
target generation purposes.
* 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.)
JORC Code explanation Commentary
Criteria
=============== =============================================================== ==============================================================
Mineral * Type, reference name/number, location and ownership * The Atex exploration permit was issued as PR-777 on 6
tenement including agreements or material issues with third December 2017 to Atex Mining Resources and was valid
and parties such as joint ventures, partnerships, for 4 years, expiring in December 2021. In March
land overriding royalties, native title interests, 2021, Firering Holdings acquired 51% of Atex Mining
tenure historical sites, wilderness or national park and and has an option to acquire an additional 39%.
status 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 * Acknowledgment and appraisal of exploration by other * Within PR-777 limited exploration work comprising
done parties. geological mapping and prospecting focussed on the
by eluvial, alluvial and pegmatite hosted
other columbo-tantalite mineralisation was done between
parties 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 Tounvré.
* 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 several 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 limited mapping
and rock chip sampling focussed on 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 several
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 us 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
several pegmatite types within the licence area,
including pegmatites, which 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 both
in 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 schists are
also present and comprise a series of steeply dipping
north-northeast striking bodies. Less common are
smaller east west orientated pegmatites.
* Recent work by Firering Strategic Minerals has
identified several pegmatite bodies around Spodumene
Hill and have been the focus of the 2022 drilling
campaign. Several other pegmatites were also
identified within the broader ATEX project area
indicating the licence may be hosted to additional
LCT pegmatites. The licence scale soil sampling
programme was designed to identify potential targets
associated with the known pegmatites and other
potentially sub-cropping pegmatite zones.
* Several of these pegmatites at Spodumene Hill 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 several gold
deposits in the broader region. Historical
exploration in the 1960s also noted a small "placer"
gold deposit close to Tounvré.
--------------------------------------------------------------- --------------------------------------------------------------
Drill * A summary of all information material to the * All relevant maps showing the sample locations and
hole understanding of the exploration results including a lithium results have been included in the
Information tabulation of the following information for all announcement.
Material drill holes:
* Only lithium results have been reported as this data
o easting and northing best summarises and highlights the potential target
of the drill hole areas identified.
collar
o elevation or 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 * In reporting Exploration Results, weighting averaging * No equivalent values are used or reported.
aggregation techniques, maximum and/or minimum grade truncations
methods (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 * These relationships are particularly important in the * There are no relationship between the lithium results
between reporting of Exploration Results. in the soil samples and possible pegmatite hosted
mineralisation lithium mineralisation.
widths
and * If the geometry of the mineralisation with respect to
intercept the drill hole angle is known, its nature should be * No relationship has been established with respect to
lengths reported. the target sizes and the size of potential 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 * Follow-up exploration work is required to test the
effect (e.g. 'down hole length, true width not targets identified and establish whether the targets
known'). are associated with mineralised pegmatites.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
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 * Where comprehensive reporting of all Exploration * The reported exploration results are related to the
reporting Results is not practicable, representative reporting regional soil sampling results for batches 1-7 and
of both low and high grades and/or widths should be part of batch 8 from the Atex project conducted by
practiced to avoid misleading reporting of Ricca Resources.
Exploration Results.
--------------------------------------------------------------- --------------------------------------------------------------
* No applicable.
Other * Other exploration data, if meaningful and material,
substantive should be reported including (but not limited to):
exploration geological observations; geophysical survey results;
data 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 * The nature and scale of planned further work (e.g. * Additional exploration is planned and summarised in
work tests for lateral extensions or depth extensions or the accompanying documentation.
large-scale step-out drilling).
* Diagrams clearly highlighting the areas of possible
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
--------------------------------------------------------------- --------------------------------------------------------------
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