TIDMFRG
RNS Number : 1753R
Firering Strategic Minerals PLC
25 October 2023
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM /
Sector: Mining
25 October 2023
Firering Strategic Minerals Plc
("Firering" or the "Company")
Commencement of Part 2 of Phase II 5,000m auger drilling
campaign at Atex
3,000m of RC drilling campaign planning well advanced
Firering, the exploration company focusing on critical minerals,
is pleased to announce that it has commenced Part 2 of its auger
drilling campaign at its flagship Atex Lithium-Tantalum Project
("Atex"), in Côte d'Ivoire. This auger drilling campaign will
target three new pegmatite zones that were identified during the
soil sampling campaign (announced on 22 June 2023).
In addition, a Reverse Circulation ("RC") drilling campaign is
in the final stages of planning for Q4 2023 and will seek to build
upon some of the significant assay results obtained from our
previous 3,000m diamond drill campaign.
Highlights
-- A total of 840 holes for c.5,000m of auger drilling are planned.
-- Three new pegmatite zones being targeted.
-- Final hole locations for c.3,000m of RC drilling have been decided on.
-- RC drilling contract is well advanced and will be announced shortly.
Yuval Cohen, Chief Executive Officer of Firering, said:
"I am pleased to announce the commencement of a further c5,000m
of auger drilling following the recent successful campaign which
confirmed some of the six new pegmatite zones identified during our
soil sampling campaign. In addition, final hole locations for an
initial c.3,000m of RC drilling have been decided on. We expect to
announce the RC drilling contract shortly and commence RC drilling
in Q4.
"The success of any exploration campaign is measured by the
start of a new campaign. We have been encouraged by the results of
our campaigns to date and are optimistic that the results of the
next phase of our auger drilling and the start of the RC drilling
will further strengthen the potential of the Atex project taking us
one step closer to becoming the first lithium producing project in
Côte d'Ivoire.
"We will continue to update the market with our achievements at
Atex".
Commencement of Part 2 of Phase II auger drilling
Part 2 of the Phase II auger drilling campaign follows the
successful completion of the first part of the Phase II auger
drilling campaign in August 2023. Part 2 will start in Area 4,
where several east-west orientated pegmatites were identified
during the detailed mapping exercise, followed by Area 5, west of
Tounvré, and Area 3, east of Spodumene Hill. A total of 840 holes
have been planned for c. 5,000m of drilling. All planned auger
lines are shown in Figure 2. As in Part 1, all auger holes will be
geologically logged and End of Hole ("EOH") samples will be tested
with the pXRF in Firering's lab in Tounvré.
Commencement of initial 3,000m of RC drilling
Final RC hole locations for the initial 18 holes for c.3,000m of
RC drilling have been decided on and are shown in Figure 3. The RC
campaign is due to start in due course and should be completed over
the course of 4 weeks. All RC holes will be logged and sampled at
1m intervals with all fresh pegmatite samples sent to Intertek
Laboratories in Perth, Australia for assaying. The drilling is
planned to intersect fresh pegmatite beneath the weathered
pegmatite identified during Part 1 of the auger drilling campaign
and to test the potential lithium mineralisation of the pegmatites.
Assay results are expected during Q1 2024 and will be used to
direct future drilling programmes. The RC contract discussions are
well advanced and will be announced shortly.
Figure 1 : Map showing the nine target areas identified and
mapped in detail during the soil sampling campaign. Part 1 of Phase
II auger drilling focused on Areas 1, 2 and 6; Part 2 will focus on
Areas 3, 4 and 5.
Figure 2 : Map showing the planned auger lines for Part 2 of the
Phase II auger drilling campaign.
Figure 3 : Plan view of Tounvre RC drilling programme.
Competent Person
In accordance with the AIM Note for Mining and Oil and Gas
Companies, Firering discloses that Michael Cronwright of CSA Global
is the Competent Person that has reviewed the technical information
contained in this document. Michael Cronwright has a Pr.Sci.Nat
with the South African Council for Natural Scientific Professions
("SACNASP") and is a member in good standing with SACNASP. Mr
Cronwright has the appropriate relevant qualifications, experience,
competence and independence to act as a Competent Person as defined
in the 2012 Edition of the "Australian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves". Michael
Cronwright consents to the inclusion of the information in this
announcement in the form and context in which it appears.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED
UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014
WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL)
ACT 2018, AS AMED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A
REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO
BE IN THE PUBLIC DOMAIN.
***S ***
For further information and updates on Firering's exploration
programme, visit www.fireringplc.com or contact the following:
Firering Strategic Minerals Tel: +44 20 7236
Yuval Cohen 1177
Vassilios Carellas
SPARK Advisory Partners Limited Tel: +44 20 3368
Nominated Adviser 3550
Neil Baldwin / James Keeshan / Adam
Dawes
Optiva Securities Limited Tel: +44 20 3137
Broker 1903
Christian Dennis / Daniel Ingram
St Brides Partners Limited T: +44 20 7236 1177
Financial PR E: firering @stbridespartners.co.uk
Ana Ribeiro / Susie Geliher / Isabelle
Morris
Notes to Editors:
Firering Strategic Minerals
Firering Strategic Minerals plc is an AIM-quoted mining company
focused on exploring and developing a portfolio of mines producing
strategic minerals in Côte d'Ivoire, specifically lithium and
tantalum, to support the global transition to net zero emissions.
It operates the Atex Lithium-Tantalum Project in northern Côte
d'Ivoire, which is prospective for both lithium and tantalum.
Firering's main focus is working together with Australian
diversified minerals company Ricca Resources to advance development
at Atex with a view to establishing a maiden lithium resource and
then progressing a Lithium project through to DFS. Firering is also
assessing pilot scale production of ethically sourced tantalum and
niobium to generate early revenues and support further exploration
work. Should pilot production be successful, a large-scale tantalum
production facility may be developed, which will be supported by a
debt facility of FCFA 5,057,000,000 (approximately EUR7,500,000)
currently under negotiation to fund the entire scale-up plan to
develop a portfolio of ethically sourced mineral projects in the
Côte d'Ivoire, supplying EV batteries, high tech electronics and
other fast-growing end markets. Firering also has an option to
acquire up to 28.33% of Limeco Resources Limited which is
commissioning a lime plant in Zambia and is expected to reach full
production and first sales by the end of 2023.
Forward-Looking Statements
This announcement may contain some references to forecasts,
estimates, assumptions and other forward-looking statements.
Although the Company believes that its expectations, estimates and
forecast outcomes are based on reasonable assumptions, it can give
no assurance that they will be achieved. They may be affected by a
variety of variables and changes in underlying assumptions that are
subject to risk factors associated with the nature of the business,
which could cause actual results to differ materially from those
expressed herein.
JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections)
--------------------------------------------------------------
Sampling
techniques * Nature and quality of sampling (e.g. cut channels, * Soil samples weighing approximately 2-2.5kg were
random chips, or specific specialised industry collected from a 25-30cm diameter hole. The surficial
standard measurement tools appropriate to the humus and debris cleared prior to excavation of the
minerals under investigation, such as down hole gamma shallow hole and the sample collected from the
sondes, or handheld XRF instruments, etc). These B-horizon and placed into pre-numbered plastic bags.
examples should not be taken as limiting the broad Oversize material was discarded.
meaning of sampling.
* Sample tickets inserted into the bags which were then
* Include reference to measures taken to ensure sample sealed with a cable-tie or taped shut.
representivity and the appropriate calibration of any
measurement tools or systems used.
* Sample holes were backfilled and locations marked
with a stick (peg) and flagging tape with the sample
* Aspects of the determination of mineralisation that ID marked.
are Material to the Public Report.
* Duplicate samples were collected from locations where
* In cases where 'industry standard' work has been done pegmatite material was sampled.
this would be relatively simple (e.g. 'reverse
circulation drilling was used to obtain 1 m samples
from which 3 kg was pulverised to produce a 30 g * Areas of anthropogenic disturbances were avoided such
charge for fire assay'). In other cases more as roads and artisanal workings. However, cultivated
explanation may be required, such as where there is fields were sampled. Streams, riverbeds and swamps
coarse gold that has inherent sampling problems. were also avoided.
Unusual commodities or mineralisation types (e.g.
submarine nodules) may warrant disclosure of detailed
information. * QAQC samples comprising certified reference materials,
blanks and field duplicates were inserted at regular
intervals into the sample stream.
* Samples were dried, hand crushed, sieved
* Sample analysis was done by LIBS for lithium and a
multi-element suite, including LCT pegmatite
pathfinder elements (such as Sn, Ta, Rb) by pXRF.
* Uncased auger drilling was used to collect soil
samples for Part 1 of Phase 2. All holes were drilled
to the top saprolite, an extra 1-2m if lithology
isn't recognisable.
* Each site was cleared of debris and plant material
prior to drilling and levelled.
* Holes that failed to progress beyond 2m were
redrilled to mitigate the eventuality a hole
encountered a boulder and to ensure that the maximum
depth could be reached to collect a suitable sample
from as close to the top of saprolite as possible. A
total of 1039 holes have been drilled to date.
* Holes varied between 1m and 18m in depth. The samples
were collected at 1m intervals, weighing
approximately 10kg.
* The samples were then riffle split to produce a
nominal 3-5kg subsample. Any oversize material was
coned and quartered and added to the primary sample
and reject sample bags. Additional splitting was
conducted on samples >5kg.
* The primary focus of this sampling is to identify and
confirm pegmatites within the target areas identified
from the previously completed soil sampling.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
------------------------------------------------------------ --------------------------------------------------------------
Drilling
techniques * Drill type (e.g. core, reverse circulation, open-hole * Uncased auger drilling is used to collect samples at
hammer, rotary air blast, auger, Bangka, sonic, etc) 1m intervals.
and details (e.g. core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or
other type, whether core is oriented and if so, by * The drilling was conducted by Royal Mining, a company
what method, etc). based in Abidjan using 2x Drilling Equipment Plant
LTD manufactured rigs and towed by a Jiang Fa 2500
tractor. The rigs total depth capability was 18m.
* All holes were drilled vertically.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
------------------------------------------------------------ --------------------------------------------------------------
Drill sample
recovery * Method of recording and assessing core and chip * 1039 auger soil samples were collected during For
sample recoveries and results assessed. Part 1 of Phase 2, weighing between 2kg and 6.0kg,
averaging 3.0kg.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Sample recoveries are considered suitably
representative for the purposes of target generation.
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse
material.
------------------------------------------------------------ --------------------------------------------------------------
Logging
* Whether core and chip samples have been geologically * All the auger holes were geologically logged at 1m
and geotechnically logged to a level of detail to sample intervals.
support appropriate Mineral Resource estimation,
mining studies and metallurgical studies.
* All samples were photographed.
* Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc) photography. * The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
* The total length and percentage of the relevant
intersections logged.
------------------------------------------------------------ --------------------------------------------------------------
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * The soil samples were processed at FSM's camp in
and sample half or all core taken. Tounvré.
preparation
* If non-core, whether riffled, tube sampled, rotary * Samples were oven dried for up to 120 mins and then
split, etc and whether sampled wet or dry. pulverised with a motor and pestle until all material
passed through 0.16mm sieve.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique. * 2 pulp samples of 100-200g of the screened material
was then collected, one bagged and labelled for
despatch to Ricca Resources laboratory in Ghana and
* Quality control procedures adopted for all the duplicate remained as reference pulp sample in
sub-sampling stages to maximise representivity of Tounvré camp. The remaining material was
samples. retained.
* Measures taken to ensure that the sampling is * In Ghana a pressed pellet was produced from the
representative of the in situ material collected, sample using a manual hydraulic press and the
including for instance results for field remaining sample retained.
duplicate/second-half sampling.
* The 1m auger samples were riffle split on site to
* Whether sample sizes are appropriate to the grain obtain a nominal 5kg subsample. A 5kg (or of similar
size of the material being sampled. mass) duplicate sample was also prepared for each
sample from the reject material and has been retained
on site. Wet clay samples are coned and split by hand
and dried in the oven with other samples.
* The sample captured from the drill string is placed
in 50cm wide washing tubs hand mixed and spilt
through a 50:50 splitter.
* The auger samples are being processed at FSM's camp
in Tounvré.
* Samples were oven dried for up to 120 mins and then
pulverised with a motor and pestle until sufficient
material passed through 0.16mm sieve.
* A subsample comprising a 100g scoop from each metre
sample is taken and placed in plastic bag for air
drying and pXRF and at Touvre base.
* The 3-5kg EOH field samples is split 50:50 at camp
with this primary sample being prepped and the field
duplicate stored at FSM's camp. The primary 2.5kg
sample is prepped and generates two 100g minus
160micron subsamples. One is bagged and labelled for
despatch to Ricca Resources laboratory in Ghana and
the duplicate remained as reference pulp sample in
Tounvré camp. The coarse reject is discarded.
The auger top of saprolite samples are considered
suitable for identifying exploration targets.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
------------------------------------------------------------ --------------------------------------------------------------
Quality
of assay * The nature, quality and appropriateness of the * The soil samples were couriered to Ricca Resources
data and assaying and laboratory procedures used and whether Ghana laboratory where they will be subject to
laboratory the technique is considered partial or total. industry accepted sample preparation and multi
tests element analysis by pXRF for 34 elements including Rb,
Sn, Nb and Zr and LIBS for Li.
* For geophysical tools, spectrometers, handheld XRF
instruments, etc, the parameters used in determining
the analysis including instrument make and model, * Olympus Vanta XRF Analyzer model VMR series was used
reading times, calibrations factors applied and their in reading multi-element suite and SciAps LIBS
derivation, etc. analyser for reading and Li and selected elements.
* Nature of quality control procedures adopted (e.g. * Internal laboratory QAQC checks analysis on its own
standards, blanks, duplicates, external laboratory certified reference material of standards and blanks
checks) and whether acceptable levels of accuracy /inserted at regular interval into the sample stream
(i.e. lack of bias) and precision have been are reported.
established.
* QAQC performance was monitored and reviewed by Ricca
and demonstrated the results are acceptable for the
reporting of the results.
* The Competent Person is satisfied that the results of
the QAQC are acceptable and that the assay data from
are suitable for the reporting of exploration
results.
* Geophysical instruments were not used in assessing
the mineralisation.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
------------------------------------------------------------ --------------------------------------------------------------
Verification
of sampling * The verification of significant intersections by * CSA Global (CSA) has not observed any of the sampling
and assaying either independent or alternative company personnel. process executed by Ricca Resources sampling team.
* The use of twinned holes. * No verification sampling was done.
* Documentation of primary data, data entry procedures, * The auger logging and sampling data are captured on
data verification, data storage (physical and tablets that were imported into a SQL database
electronic) protocols. managed by CSA Global.
* Discuss any adjustment to assay data. * The field programme is being managed by Ricca
Resources
* All hole locations are recorded on a handheld GPS on
tablets.
* All data is stored locally on a laptop computer and
also backed-up onto the cloud.
* The assay data presented has not been adjusted.
------------------------------------------------------------ --------------------------------------------------------------
Location
of data * Accuracy and quality of surveys used to locate drill * All soil sampling locations were captured using a
points holes (collar and down-hole surveys), trenches, mine handheld GPS The information was then transferred to
workings and other locations used in Mineral Resource the logging Excel spreadsheets.
estimation.
* Coordinates are relative to WGS84 UTM zone 29P.
* Specification of the grid system used.
* The locations are considered suitably accurate for
* Quality and adequacy of topographic control. the purpose of reporting exploration results.
* The auger hole locations were recorded using a
handheld GPS device.
* Coordinates are relative to WGS84 UTM zone 29P.
* The locations are considered suitably accurate for
the purpose of reporting exploration results.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
* The results will not be used in any Mineral Resource
estimation.
------------------------------------------------------------ --------------------------------------------------------------
Data spacing
and * Data spacing for reporting of Exploration Results. * Soil sampling was completed on east-west grid with
distribution lines spaced at 100m apart and samples collected at
100m intervals along the lines to create a 100x100m
* Whether the data spacing and distribution is sample grid across the Atex licence.
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and * The spacing is considered suitable to determine
classifications applied. targets associated with LCT pegmatites for follow-up
exploration work.
* Whether sample compositing has been applied.
* No sample compositing was done.
* Auger lines for Part 1 of Phase II were laid out
along a northeast-southwest pattern with lines spaced
150 m apart covering selected soil anomalies. Station
spacing along the lines orientated in a
northwest-southeast direction is 20m.
* The auger lines for Part 2 of Phase II have been
planned along a northeast-southwest orientation for
areas 2 and 3, and a northeast-southwest orientation
for area 4, with lines spaced 160 m apart covering
selected soil anomalies. Station spacing along the
lines orientated in a northwest-southeast direction
is 20m.
* The spacing is considered suitable to determine
targets for follow-up work.
* No sample compositing was done.
------------------------------------------------------------ --------------------------------------------------------------
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Soil sampling was completed on east-west grid with
relation sampling of possible structures and the extent to lines spaced at 100m apart and samples collected at
to which this is known, considering the deposit type. 100m intervals along the lines to create a 100x100m
geological sample grid across the Atex licence and was suitable
structure to delineate a number of soil anomalies for targeted
* If the relationship between the drilling orientation follow up in the subsequent auger programme
and the orientation of key mineralised structures is
considered to have introduced a sampling bias, this
should be assessed and reported if material. * Individual auger lines are orientated
northwest-southeast (perpendicular to the inferred
orientation of the pegmatite at Spodumene Hill), and
trend of the soil anomalies, and lines spaced at 150m
along a northeast-southwest orientation. Orientation
of the planned auger lines in Area 4 is
northeast-southwest.
* The grid was designed to determine potential strike
extents to the northeast-southwest striking Spodumene
Hill pegmatite (and east west orientation pegmatites
in Area 4) and also test a number of the additional
soil anomalies identified from the soil sampling
programme
* No relationship has been establishing between the
interpreted pegmatite intercepts from the auger holes
and true widths.
* The results will not be used in any Mineral Resource
estimation.
------------------------------------------------------------ --------------------------------------------------------------
Sample
security * The measures taken to ensure sample security. * All soil and auger samples were collected, labelled
and bagged on site by the Ricca exploration team.
* At the end of each day the samples were placed in
large plastic bags and large plastic labelled bags.
Each bag usually contained samples from one hole.
* Samples were secured and stored in FSMs core yard
facility in Tounvré where the sample preparation
was also done.
* Sample batches of the prepared sample material were
then dispatched to Ricca Resources' laboratory in
Ghana for assay by LIBS and pXRF.
* Sample transport to Ghana was managed by Ricca
Resources and facilitated by Intertek Yamoussoukro
Prep lab, which delivered the samples to Ghana on
behalf of Ricca Resources
* A chain of custody sheet was verified and signed off
at each stage in transit before in get to the
Laboratory in Ghana and finally checked and signed by
the recipient.
* The sample lists were submitted to the Ricca
Resources laboratory in Ghana electronically and
checked by the recipient against what was received.
* Batch tracking file is updated regularly, considering
the status of samples dispatched and results
received.
* The same methods and protocols are being used in Part
2 of Phase II of the auger drilling.
============= ------------------------------------------------------------ --------------------------------------------------------------
Audits or
reviews * The results of any audits or reviews of sampling * The soil sampling and auger sampling technique was
techniques and data. reviewed by Ricca Resources and the Competent person.
* Regular reviews of the data and assay results have
been conducted to ensure the data are suitable for
target generation purposes.
* Discussions were also held with key technical staff
from Ricca Resources regarding the geology, sampling
and data capture they conducted.
* The Competent Person considers that the exploration
work conducted to date is using appropriate
techniques for the style of mineralisation and is
suitable for the reporting of the exploration
results.
------------------------------------------------------------ --------------------------------------------------------------
Section 2 Reporting of Exploration Results
(Criteria listed in the previous section also apply to this section.)
Mineral
tenement * Type, reference name/number, location and ownership * The Atex exploration permit was issued as PR-777 on 6
and land including agreements or material issues with third December 2017 to Atex Mining Resources and was valid
tenure status parties such as joint ventures, partnerships, for 4 years, expiring in December 2021. In March
overriding royalties, native title interests, 2021, Firering Holdings acquired 51% of Atex Mining
historical sites, wilderness or national park and and has an option to acquire an additional 39%.
environmental settings.
* PR-777 has been renewed for an additional three years
* The security of the tenure held at the time of for Li, expiring on 5 December 2024. The Mining Code
reporting along with any known impediments to of Ivory Coast allows for the adding of other
obtaining a licence to operate in the area. commodities, e.g. Ta and Au when found during
exploration activities.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
Exploration
done by other * Acknowledgment and appraisal of exploration by other * Within PR-777 limited exploration work comprising
parties parties. geological mapping and prospecting focussed on the
eluvial, alluvial and pegmatite hosted
columbo-tantalite mineralisation was done between
1953 and 1963. This work identified the area to have
"good" potential for columbo-tantalite mineralisation
as well some evidence of placer gold mineralisation
around Touvre.
* Adam (1966) conducted the systematic exploration in
the area on behalf of SODEMI from 1965-1966. His work
comprised non-systematic and systematic pitting,
mapping, rock chip and mineral concentrate sampling.
The work identified a number of areas with
potentially economic columbo-tantalite mineralisation
as well as the spodumene-lepidolite bearing
pegmatite(s) around Spodumene Hill. His mapping also
recognised 5 types of pegmatites in the area, namely:
* lepidolite, muscovite, spodumene, columbo-tantalite
type;
* green muscovite, columbo-tantalite type;
* green muscovite and beryl type;
* muscovite, beryl type; and
* biotite, magnetite type.
* More recently, the permit was covered by a larger
licence held by Perseus Mining Limited who were
exploring for gold within the region. The results of
this exploration are unknown.
* It is understood that they conducted airborne
geophysical (magnetic and radiometric) surveys over
the area.
* The most recent exploration conducted has been by
Atex Mining Resources who conducted mapping, rock
chip sampling, limited drilling and licence wide soil
sampling and focused auger drilling targeting the
lithium potential of the licence and confirmed the
presence of spodumene and lepidolite mineralisation
in the area around Spodumene Hill.
--------------------------------------------------------------- --------------------------------------------------------------
Geology
* Deposit type, geological setting and style of * The Atex Project occurs in the western limit of the
mineralisation. Bagoé Basin within Baoulé-Mossi domain of
the West African Craton (WAC). The WAC comprises
Archaean basement material and the surrounding
Proterozoic granite-greenstone terranes (termed the
Birimian or Birimian Supergroup). The Birimian rocks
are synchronous with the Eburnean orogeny. The
Baoulé-Mossi domain comprises a number of
north-northeast to south-southwest to north-south
arcuate belts that stretch hundreds of kilometres and
are host to multiple gold, base metal, and
pegmatite-hosted columbo-tantalite and lithium
deposits that are spatially and temporally related to
the Eburnean orogeny that took place between 2,250
and 1,980 Ma.
* The geology of the Project area is underlain by
Birimian metavolcanics and Eburnian-aged granitoid
intrusions, including undeformed, late stage potassic
granites considered to be genetically related to the
pegmatites.
* Historical work within the permit area has identified
a number of pegmatite types within the licence area,
including pegmatites that are prospective for lithium
and columbo-tantalite mineralisation. The exploration
work by Adam (1966) also identified surficial
columbo-tantalite mineralisation associated with the
pegmatites and weathering thereof.
* Recently, several companies have demonstrated the
potential for pegmatite-hosted lithium mineralisation
in the region. These include Atlantic Lithium
(previously IronRidge Resources) who have developed
the Ewoyaa Lithium Project in Ghana, Firefinch
(previously Mali Lithium) and their Goulamina project
and Kodal Minerals with their Bougouni project bothin
southern Mali.
* The pegmatites within the Atex permit belong to the
LCT-Rare Element group of pegmatites and includes the
LCT spodumene-lepidolite bearing pegmatite at
Spodumene Hill and muscovite-columbo-tantalite type
pegmatites.
* The pegmatites within the Atex Proiect are hosted in
mafic schists, although some minor mica schist is
also present, and comprise a series of steeply
dipping north-northeast striking bodies. Less common
are smaller east-west orientated pegmatites Current
work by Firering Strategic Minerals has identified a
number of pegmatite bodies around Spodumene Hill,
which have been the focus of the current drilling
campaign.
* Several of these pegmatites have been identified to
be potentially lithium bearing, with the lithium
hosted in spodumene and lepidolite.
* The area is also considered moderately prospective
for orogenic Birimian gold mineralisation based on
the local geology and proximity to a number of gold
deposits in the broader region. Historical
exploration in the 1960s also noted a small "placer"
gold deposit close to Tounvré.
--------------------------------------------------------------- --------------------------------------------------------------
Drill hole
Information * A summary of all information material to the * All relevant maps showing the sample locations
understanding of the exploration results including a results have been included in the announcement.
tabulation of the following information for all
Material drill holes:
* Geological results have been reported
o easting and northing
of the drill hole * Only lithium results have been reported for the soils
collar as this data best summarises and highlights the
o elevation or potential target areas identified.
RL (Reduced Level
- elevation above
sea level in metres)
of the drill hole
collar
o dip and azimuth
of the hole
o down hole length
and interception
depth
o hole length.
* If the exclusion of this information is justified on
the basis that the information is not Material and
this exclusion does not detract from the
understanding of the report, the Competent Person
should clearly explain why this is the case.
--------------------------------------------------------------- --------------------------------------------------------------
Data
aggregation * In reporting Exploration Results, weighting averaging * Results plotted and interpreted are based on the
methods techniques, maximum and/or minimum grade truncations geology encountered in the end of hole auger sample.
(e.g. cutting of high grades) and cut-off grades are
usually Material and should be stated.
* No data aggregation or metal equivalents have been
reported.
* Where aggregate intercepts incorporate short lengths
of high grade results and longer lengths of low grade
results, the procedure used for such aggregation
should be stated and some typical examples of such
aggregations should be shown in detail.
* The assumptions used for any reporting of metal
equivalent values should be clearly stated.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
Relationship
between * These relationships are particularly important in the * There is no relationship between the lithium results
mineralisation reporting of Exploration Results. in the soil samples and possible pegmatite hosted
widths and lithium mineralisation.
intercept
lengths * If the geometry of the mineralisation with respect to
the drill hole angle is known, its nature should be * There is no relationship between the geological
reported. results from the auger samples and possible pegmatite
hosted lithium mineralisation.
* If it is not known and only the down hole lengths are
reported, there should be a clear statement to this * No relationship has been established with respect to
effect (e.g. 'down hole length, true width not the target sizes and the size of potential pegmatite
known'). hosted lithium mineralisation. However, the auger
results do provide a more accurate delineation of the
pegmatites for follow up drill targeting
--------------- --------------------------------------------------------------- --------------------------------------------------------------
Diagrams
* Appropriate maps and sections (with scales) and * Relevant maps are presented in the accompanying
tabulations of intercepts should be included for any documentation.
significant discovery being reported These should
include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional
views.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
Balanced
reporting * Where comprehensive reporting of all Exploration * The reported exploration results from the Atex
Results is not practicable, representative reporting project are related to the logged geology and assays
of both low and high grades and/or widths should be from the soil sampling and logged geology from the
practiced to avoid misleading reporting of auger drilling completed to date and have been
Exploration Results. previously reported.
--------------------------------------------------------------- --------------------------------------------------------------
Other * Not applicable.
substantive * Other exploration data, if meaningful and material,
exploration should be reported including (but not limited to):
data geological observations; geophysical survey results;
geochemical survey results; bulk samples - size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.
--------------- --------------------------------------------------------------- --------------------------------------------------------------
Further
work * The nature and scale of planned further work (e.g. * Additional exploration is planned, namely the planned
tests for lateral extensions or depth extensions or RC drilling campaign, and summarised in the
large-scale step-out drilling). accompanying documentation. This drilling has been
planned to test the targets identified and establish
whether the targets are associated with mineralised
* Diagrams clearly highlighting the areas of possible pegmatites.
extensions, including the main geological
interpretations and future drilling areas, provided
this information is not commercially sensitive. * Maps are included in the Report.
--------------------------------------------------------------- --------------------------------------------------------------
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END
DRLZZMZGGDVGFZZ
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