TIDMFRG
RNS Number : 5122D
Firering Strategic Minerals PLC
22 June 2023
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM /
Sector: Mining
22 June 2023
Firering Strategic Minerals plc
("Firering" or "the Company" or "FSM")
Exploration Update from Atex Lithium-Tantalum Project
Auger Drilling Programme Planned on Six High Priority Soil
Anomalies
Firering Strategic Minerals plc, an exploration company focusing
on critical minerals, is pleased to report the definition of
multiple lithium in soil anomalies and a planned auger drilling
programme following the large-scale Phase II soil sampling
programme at the Atex Lithium-Tantalum Project ("Atex"), i n Côte
d'Ivoire.
The Phase II Programme was undertaken in conjunction with Ricca
Resources Limited ("Ricca"), an Australian diversified minerals
company, which has the option to earn up to 50% of Atex following
its US$18.6 million investment to advance the project to Definite
Feasibility Study ("DFS") announced on 2 November 2022.
HIGHLIGHTS:
-- Six high-priority soil anomalies identified from Phase II
soil sampling programme completed across Atex licence area.
-- Anomalies based on coincident soil geochemistry with mapped
pegmatites and geological setting defining strong north-easterly
orientation broadly coincident with mapped pegmatites.
-- Several lithium in soil anomalies occur adjacent to and along
similar orientations to the Spodumene Hill lithium occurrence where
previous drilling returned significant intersections, including an
oblique intersection with an apparent width of 64m at 1.24% Li2O
and 25m at 1.39% Li2O (refer the Company's notification of 15
November 2022 and 15 December 2022).
-- Approximately 11,000m of Phase I auger drilling planned on a
nominal 160m x 20m grid perpendicular to the defined soil anomaly
trends.
-- Pending results of the Phase I auger programme, further auger
infill drilling on a nominal 80m x 20m grid along the defined
pegmatite trends planned to define targets ahead of deeper drilling
below the depth of weathering for mineralisation potential.
Yuval Cohen, Chief Executive of Firering, said: "It brings me
great satisfaction to share with the market the progress resulting
from our collaboration with Ricca, as we witness the realisation of
an accelerated exploration pathway. By harnessing our collective
expertise, we will propel the exploration process forward at an
accelerated pace.
"While we are still awaiting the remaining results from the soil
sampling programme, we are confident that we have identified the
most crucial soil anomalies, allowing us to proceed with auger
drilling. We eagerly anticipate commencing the comprehensive auger
drilling programme and sharing further updates on our progress
soon."
Stuart Crow, Non-Executive Chairman of Ricca Resources,
added:
"The soil sampling and mapping programme has defined multiple
target areas for follow-up auger drilling. We are very pleased with
the results and look forward to commencing the auger drilling to
further refine these targets ahead of deeper drill testing to
confirm grade potential.
"Several of the auger anomalies occur adjacent to and along
similar trends to the previously drilled Spodumene Hill lithium
occurrence where drilling returned significant intersections,
including 64m at 1.24% Li2O.
"Whilst we are still awaiting results for the remainder of the
soils programme, we are confident the highest priority soil
anomalies have been defined in order to commence auger
drilling.
"We look forward to commencing the extensive auger drilling
programme, receiving the remaining results from the soil sampling
programme and providing further updates on our progress in due
course."
Soil Anomalies and Auger Programme
Grid soil geochemistry and mapping has identified six
high-priority soil anomalies for auger drilling follow-up on a
nominal 160m x 20m grid. Overall, the soil anomalies define a
consistently north-north-east striking orientation coincident with
regional mapping and outcropping pegmatites in the area.
Analysis was completed in-house using portable x-ray
fluorescence spectrometry ("pXRF") and Laser Induced Breakdown
Spectrometry ("LIBS"). Soil analysis results are pending for the
northern extent of the licence.
Soil targets 1, 2, 3 and 6 typically occur within mafic schists
and associated with dominantly north-north-east striking
sub-cropping pegmatite or pegmatite float. Target 5 occurs within
and along the contact of a large granitic intrusive along the
south-western margin of the licence area. Target 4 occurs in the
north of the licence area, within mafic schists and associated with
north-east and north-west striking pegmatites. Soil anomaly levels
range from 85 to a maximum of 4,499 ppm lithium ('Li', refer to
Figure 1).
Targets 1, 2, 5 and 6 have combined Li, rubidium ('Rb') and
niobium ('Nb') anomalies indicating the presence of fractionated
pegmatites. Targets 4 and 3 are Li only anomalies however with
mapped pegmatites.
Targets 1, 2, 3 and 6 occur along the same orientation and
within the same apparent pegmatite swarm which hosts the Spodumene
Hill lithium occurrence. Previous drilling at the Spodumene Hill
lithium occurrence reported significant highlights including 64m at
1.24% Li(2) O from 76m in hole TVDD0004, 25m at 1.39% Li(2) O from
77m in hole TVDD0018 and 7m at 1.33% Li(2) O from 60m in hole
TVDD0019 (refer the Company's notifications of 15 November 2022 and
15 December 2022).
Auger drilling will be used to define the pegmatite footprint
through the weathering profile on a nominal 160m x 20m grid that
will be infilled to 80m x 20m as the pegmatite extents are defined.
A total of approximately 11,000m of auger drilling is planned as
part of Phase I with subsequent infill on a nominal 80m x 20m grid
for Phase II, dependent on observations (refer Figure 2).
Auger drilling depth is to provide positive identification of
rock type, which is estimated to be in the order of 5-6m depth and
an end of hole sample will be collected for analysis to assist in
potential target prioritisation. Once pegmatite footprints have
been defined in auger, the next step is to drill test them with
deeper RC or diamond drilling to confirm whether they are
mineralised below the weathering profile.
Figure 1 : Soil anomalies and targets identified.
Figure 2 : Planned Phase I auger programme over target areas
defined.
- Ends -
For further information and updates on Firering's exploration
programme, visit www.fireringplc.com or contact the following:
Firering Strategic Minerals Tel: +44 20 7236 1177
Yuval Cohen
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 Mineral
www.fireringplc.com
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.
Competent Person
In accordance with the AIM Note for Mining and Oil and Gas
Companies, Firering discloses that Michael Cronwright of CSA Global
(an ERM Group Company) 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.
About Ricca Resources
www.riccaresources.com.au
Ricca Resources is an Africa-focused, diversified mineral
exploration company with extensive gold portfolios in prospective
Birimian terrains in Côte d'Ivoire and Liberia, a potential new
gold province discovery in Chad and a strategic partnership to
advance a lithium-tantalum project also in Côte d'Ivoire.
Glossary of Technical Terms
Granitic intrusion A granite intrusion represents a mass of crystalline igneous rock that has slowly cooled and
crystalized over a long period of time, resulting in its coarse-grained texture. Granitic
intrusions can take various forms and often forms, such as batholiths, which are large and
deep-seated intrusions, or smaller veins and dikes. They contain by high silica content, with
light-colored minerals like quartz and feldspar, and a relatively low iron and magnesium
content.
ICP-MS Inductively coupled plasma mass spectrometry.
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ICP-OES Inductively coupled plasma-optical emission spectroscopy.
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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)4O10(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.
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Li Lithium
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Li(2) O Lithium Oxide (Lithia) - an inorganic lithium compound used to assess lithium minerals.
Relationship between Li and Li2O: Li2O = Li x 2.153
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LIBS Laser Induced Breakdown Spectrometry. Handheld LIBS analysers use a high-focused laser to
ablate the surface of a sample. A plasma is formed consisting of electronically excited atoms
and ions. As these atoms decay back into their ground states, they emit characteristic
wavelengths
of light, or "unique fingerprints". These "fingerprints" or spectra are distinct for each
element. Handheld LIBS analysis can be used for quantitative and qualitative measurements
including lithium.
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Mafic schist A mafic schist is a metamorphic rock, usually of volcanic origin, and composed primarily of
mafic minerals i.e. Minerals rich in magnesium (Mg) and iron (Fe) and have a relatively darker
colour compared to other minerals. Mafic schists have a foliation or layered appearance
resulting
from the alignment of platy minerals during metamorphism.
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metavolcanics Volcanic rocks that have been metamorphosed.
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Pegmatite An igneous rock typically of granitic composition, which is distinguished from other igneous
rocks by the extremely coarse size of its crystals, or by an abundance of crystals with
skeletal,
graphic, or other strongly directional growth habits, or by a prominent spatial zonation of
mineral assemblages
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pXRF portable X-ray Fluorescence handheld device that uses X-rays to excite matter at the atomic
level for determining approximate chemical compositions. A built in CPU and display on the
back of the unit provide live geochemical results within seconds.
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QA/QC Quality assurance and quality control. Use to assess the accuracy and reliability of assay
results
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Spodumene Spodumene is a pyroxene group mineral with a chemical formula of LiAlSi2O6. Spodumene is mined
from pegmatites and concentrates produced which are the one of the primary sources of lithium.
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Ta Tantalum
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JORC TABLE 1, Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
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 1m samples
from which 3kg was pulverised to produce a 30g charge * Areas of anthropogenic disturbances were avoided such
for fire assay'). In other cases more explanation may as roads and artisanal workings. However, cultivated
be required, such as where there is coarse gold that fields were sampled. Streams, riverbeds and swamps
has inherent sampling problems. Unusual commodities were also avoided.
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.
* Diamond drilling, producing drill core has been
utilised to sample the pegmatite below ground
surface. This method is recognised as providing the
highest quality information and samples of the
unexposed geology.
* Based on available data, there is nothing to indicate
that drilling and sampling practices were not to
normal industry standards.
* All pegmatites were sampled from the hanging wall
contact continuously through to the footwall contact.
The sampling did not include the host rocks and
stopped at the pegmatite contacts.
* Diamond drilling has been used to obtain core samples,
which have then been cut longitudinally. Intervals
submitted for assay have been determined according to
geological boundaries. Samples were nominally taken
at 1m intervals but ranged from 0.2-1.28m.
* The submitted half-core samples typically had a mass
of 2-4kg but ranged from 0.8-7.7kg
* The primary focus of this sampling was to determine
the nature and distribution of the lithium (and any
other potential mineralisation) between different
pegmatites intersected in each hole and also
variations within individual pegmatites.
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Drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole * The drilling was completed using diamond core rigs
hammer, rotary air blast, auger, Bangka, sonic, etc) with PQ sized drill rods from surface to sample
and details (e.g. core diameter, triple or standard through to fresh rock. HQ sized drill rods were used
tube, depth of diamond tails, face-sampling bit or after the top-of-fresh-rock had been intersected.
other type, whether core is oriented and if so, by Holes are angled at 50deg either to the northwest or
what method, etc). southeast and collared from surface into weathered
bedrock. All holes were downhole surveyed using a
digital multi-shot camera at about 30m intervals.
* All core was orientated.
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Drill sample
recovery * Method of recording and assessing core and chip * Drill core recovery averaged >95%. Weathered zone
sample recoveries and results assessed. recoveries averaged between 90-95% and recoveries
through the fresh rock averaged >99%.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Based on the high recoveries, FSM did not implement
additional measures to improve sample recovery and
the drill core is considered representative and fit
* Whether a relationship exists between sample recovery for sampling.
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material. * Most pegmatites were intersected in fresh rock and
the core recovery was near 100% and there is no
sample bias due to preferential loss or gain of fine
or coarse material. Some bias may occur in the
weathered portion of pegmatites where recoveries were
slightly lower but is not considered material to the
results as very few pegmatites were intersected in
this zone.
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Logging
* Whether core and chip samples have been geologically * Drill core was logged by qualified geologists and the
and geotechnically logged to a level of detail to logs were then captured into the database.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* All drill core was logged qualitatively for geology
(capturing geological, weathering and mineralogical
* Whether logging is qualitative or quantitative in properties) and quantitatively for geotechnical
nature. Core (or costean, channel, etc) photography. properties (RQD and structures) and recovery.
* The total length and percentage of the relevant * A complete copy of the data is held by CSA Global in
intersections logged. a SQL database.
* All drill core was photographed both in dry and wet
states, pre and post sampling, with the photographs
stored in the database.
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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.
* Drill core is cut longitudinally, and half-core
* Whether sample sizes are appropriate to the grain samples of a nominal 1m length are submitted for
size of the material being sampled. assay.
* The sample preparation for drill core samples
incorporates standard industry practice.
* The half core samples are then packaged and the
certified reference material, blanks and duplicates
are inserted at appropriate intervals and submitted
for crushing and pulverizing at the Intertek sample
preparation lab in Yamoussoukro.
* The half-core samples of approximately 2-4 kg are
oven dried, crushed to a nominal -2 mm with a
sub-ample of approximately 100g being split out. This
sub-sample is then pulverised to produce a pulp with
85% passing -75um size fraction.
* A subsample is then split from this and then the
complete sample batch is couriered to Australia for
assay analysis.
* Standard sub-sampling procedures are used by Intertek
during all stages of sample preparation such that
each sub-sample split is representative of the sample
it was derived from.
* Duplicate sampling comprising coarse and pulp
duplicates were undertaken for the drilling
programme. These were prepared by the lab during the
sample preparation process and the samples inserted
into empty pre- numbered bags that were placed into
the sample sequence by SEMS geologists. These were
then processed further, along with all the other
samples.
* The drilling produced PQ and HQ drill core, providing
a representative sample of the pegmatites which is
coarse-grained. Sampling was mostly at nominal 1m
intervals, and the submitted half-core samples
typically had mass of 2-4 kg.
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Quality of
assay data * The nature, quality and appropriateness of the * The soil pulps were couriered to Ricca Resources
and assaying and laboratory procedures used and whether Ghana laboratory where they were subjected 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 7 elements including 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 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.
* The drill hole sample pulps were couriered to
Intertek in Perth for assay using a sodium peroxide
fusion followed by an ICP-MS and ICP-OE assay. Method
code FP6/MS and FP6/OES. The samples were assayed for
21 elements including Li, Ta, Nb and Sn.
* Peroxide fusion results in complete digestion of the
sample and is suitable for many refractory,
difficult-to-dissolve minerals. Peroxide fusion also
provides for a more complete digestion of some
silicate mineral species and is considered to provide
the most reliable determination of elements
associated with LCT pegmatites and associated
mineralisation.
* QAQC samples comprising blanks (pulp and coarse crush
chips) and certified reference materials sourced from
AMIS in South Africa were inserted into the sample
batches. In addition, the laboratory (Intertek)
incorporated its own internal QAQC procedures to
monitor its assay results prior to release of results
to FSM.
* The Competent Person is satisfied that the results of
the QAQC are acceptable and that the assay data from
Intertek is suitable for the reporting of exploration
results.
* Geophysical instruments were not used in assessing
the mineralisation.
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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. * 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.
* CSA Global (CSA) observed the mineralisation in the
majority of drill core, but no check assaying was
completed by them at this stage of the exploration
programme.
* The logging and sampling data were captured onto
paper logs and transferred into Excel spreadsheets
that were imported into a SQL database managed by CSA
Global.
* The field programme was managed by SEMS- Exploration
(Cote d'Ivoire).
* All hole locations were sited using a handheld GPS
and surveyed with a differential GPS (DGPS) once all
drilling was completed. The information was then
transferred to the logging Excel spreadsheets.
* All data is stored locally on a laptop computer and
also backed-up onto the cloud.
* The assay data has not been adjusted.
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Location of
data points * Accuracy and quality of surveys used to locate drill * All soil sampling locations were captured using a
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 drill hole locations were recorded using a DGPS
device.
* Coordinates are relative to WGS84 UTM zone 29P.
* For the purposes of early-stage geological modelling,
the drillhole collars were projected onto a
topographic surface.
* The locations are considered suitably accurate for
the purpose of reporting exploration results.
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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.
* Drill holes were laid out along a northeast-
southwest pattern spaced between 70 and 300m apart.
Holes were not drilled on a regular grid as this
early-stage phase of scout drilling was designed to
test the mapped pegmatites for mineralisation,
determine orientation at depth and geological
continuity for certain pegmatites.
* The spacing is considered suitable to determine
targets for follow-up work. Areas for follow-up
exploration have also been identified based on gaps
identified in the data generated to date.
* No sample compositing was done.
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Orientation
of data in * Whether the orientation of sampling achieves unbiased * The drillhole orientation is designed to intersect
relation to sampling of possible structures and the extent to the pegmatites at, or nearly at, 90deg to the plane
geological which this is known, considering the deposit type. of the pegmatite. However, due to the poor control on
structure the pegmatite orientations and limitations of the
drill rig (could not drill holes
* If the relationship between the drilling orientation
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this * The pegmatite intercepts in the drill holes thus
should be assessed and reported if material. represent widths which are greater than the true
pegmatite widths. This is illustrated in the attached
sections. (refer the Company's notifications of 15
November 2022 and 15 December 2022)
* The relationship between the apparent widths and true
width has not yet been established.
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Sample
security * The measures taken to ensure sample security. * All soil samples were collected, labelled and bagged
on site by the Ricca exploration team.
* Samples were secured and stored in FSM ' s 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.
* All drill core samples were collected, labelled and
bagged on site by the SEMS-Exploration team.
* Samples were secured and stored in FSM's core yard
facility in Tounvré.
* The sample batches were then collected from
Tounvré by Intertek Yamoussoukro.
* The sample lists were submitted to Intertek
electronically and checked by Intertek against what
was received.
* Once the samples had been prepared, Intertek
Yamoussoukro couriered the sample pulps to Intertek
Perth, via Intertek Ghana, for assay.
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Audits or
reviews * The results of any audits or reviews of sampling * The soil sampling technique and assay methodology
techniques and data. have been reviewed by Mr Michael Cronwright of CSA
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.
* The drilling and sampling techniques were reviewed by
Mr Michael Cronwright of CSA Global, the Competent
Person, during the site visit in August 2022.
* Discussions were held with key technical staff from
SEMS-Exploration regarding the geology, sampling and
data capturing they conducted.
* The Competent Person considers that the exploration
work conducted to date has been using appropriate
techniques for the style of mineralisation and is
suitable for the reporting of the exploration
results.
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Section 2 Reporting of Exploration Results
(Criteria in this section apply to all succeeding sections)
Criteria JORC Code explanation Commentary
============== ============================================================= ===============================================================
Mineral
tenement and * Type, reference name/number, location and ownership * The Atex exploration permit was issued as PR-777 on 6
land tenure including agreements or material issues with third December 2017 to Atex Mining Resources and was valid
status parties such as joint ventures, partnerships, for four years and expired 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 and 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 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,
and identified a number of areas with potentially
economic columbo-tantalite mineralisation as well as
spodumene-lepidolite bearing pegmatite(s) around
Spodumene Hill. His mapping also recognised five
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.
* Atex Mining Resources conducted the most recent
exploration comprising limited mapping and rock chip
sampling focussed on the lithium potential of the
licence and confirmed the presence of spodumene and
lepidolite mineralisation on and 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 and
understanding of the exploration results including a lithium results have been included in the
tabulation of the following information for all announcement.
Material drill holes:
* Only lithium results have been reported as this data
o easting and northing of the drill hole collar best summarises and highlights the potential target
o elevation or RL (Reduced Level - elevation above sea areas identified.
level in metres) of the drill hole
collar
o dip and azimuth of the hole * All drill hole location data is provided in the
o down hole length and interception depth accompanying documentation.
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and * Only significant intercepts have been reported
this exclusion does not detract from the comprising pegmatites meeting the following criteria:
understanding of the report, the Competent Person pegmatites intercepts >1m and containing at least one
should clearly explain why this is the case. sample interval with >0.5% Li(2) O. (refer the
Company's notifications of 15 November 2022 and 15
December 2022)
-------------- ------------------------------------------------------------- ---------------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * No equivalent values are used or reported for soil
methods techniques, maximum and/or minimum grade truncations sampling.
(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 * Significant drill Intercepts are reported as length-
should be stated and some typical examples of such weighted grades within the logged pegmatite.
aggregations should be shown in detail.
* The significant intercepts have been reported as per
* The assumptions used for any reporting of metal the accompanying documentation.
equivalent values should be clearly stated.
* The majority of samples were taken at 1m lengths.
* No equivalent values are used or reported.
* No other data aggregation or metal equivalents have
been reported.
-------------- ------------------------------------------------------------- ---------------------------------------------------------------
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 * No relationship has been established with respect to
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.
* The pegmatite intercepts (downhole lengths) in the
drill holes represent apparent widths, which are
greater than the true pegmatite widths. This is
illustrated in the attached sections.
* The relationship between the apparent widths and true
width has not yet been established.
-------------- ------------------------------------------------------------- ---------------------------------------------------------------
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 are related to the
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.
* The reported exploration results from the Atex
project are related to the diamond core drilling
sample assays reported to date. (refer the Company's
notifications of 15 November 2022 and 15 December
2022)
-------------- ------------------------------------------------------------- ---------------------------------------------------------------
Other
substantive * Other exploration data, if meaningful and material, * Not applicable.
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. * Follow up surface auger sampling to be completed over
tests for lateral extensions or depth extensions or priority multi-element anomalies.
large-scale step-out drilling).
* Additional exploration is planned and summarised in
* Diagrams clearly highlighting the areas of possible the accompanying documentation.
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive.
------------------------------------------------------------- ---------------------------------------------------------------
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