Client News

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.

Phase II Soil Sampling Programme Completed – 07:00:04 30 May 2023 – FRG News article | London Stock Exchange

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