Client News

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.

Part 2 of Phase II 5,000m auger drilling campaign – 07:00:12 25 Oct 2023 – FRG News article | London Stock Exchange

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