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Not just Prem..
Have been reading many assay from many lithium explorers, its rare to find this thickness..
This is why lithium price is where it is, one of the most abundant mineral on hearth, present almost everywhere, but to find a lot of it in one place to be mined, is the difficulty.
Hence why these assay results are very important, from the map there are many ore body to be drilled in FRG license, but also I was reading that this geological formation is in trend with LEO Lithium/Ganfeng project in Mali, which Goulamina Project, has a huge resource base above 100MT
https://www.investi.com.au/api/announcements/lll/3195e4c9-a31.pdf
Anyhow I am not suggesting that FRG one day will become LEO/Ganfeng, but signs are promising for potentially commercial finds here.
DYOR imo
Yep. If you look at prem as an example. Lots of drill holes but I don’t recall anything as thick as 60m of mineralisation. They have a lot of smaller widths from lots of holes though.
I think this will do very well from here. Can’t see it lot tbh
..Mind you these 4 holes refer to just one pegmatite body, out of several bodies stretching some 2000m (see map)
Importantly we have grade and thickness, maybe would have been better closed to surface, but these are first drill results...
I am sure with these data, they will work hard to redesign next drill campaign, although given the many pegmatites body there will still be chases of hit and miss, till they have tested few ore bodies in the license.
But hey, 27m at 2.13% Li2O from 76m is not bad if it stretch for say 1000m..
To say this results are not economical based on first 4 drill result of any drilling campaign, and considering that one is
64 meters thick at at 1.24% Li2O, imo is a bit adventurous ...
Going up. Possibly seller done ?
To give FRG credit where credit is due at least their drill map/plan makes enormous sense. I must have look at lots of such drill plans over the years and never really made much sense of them but the ones here are very concise.
They show exactly where they have hit the high grade lithium, which is towards the edge of one of the larger SPD prospects. It does seem strange though that Hole 3 produced much lower grades and that Holes 5 and 6 hit no significant mineralisation as they are into the same prospect.
All told 12 of the 19 holes are into this one prospect with the remaining 7 holes drilled into a further 5 nearby prospects. Will they have high grade intercepts or show 'no significant mineralisation'??? Only the assay results will reveal the answer!!!
To give
Being in mining shares for years and scout drilling is literally like finding a needle in a haystack. The fact that they have hit in half the holes and one has a world class intersection is extremely rare. No one can argue with that.
Seems very mis priced but I’m aware likely of seed investors who will profit from here. When gone should move strongly imo.
I'm looking at this and hold a few but thinking about buying a bigger position. I noticed that holes 6 and 5 only drilled to 122 and 131m compared with holes 3 and 4 at 200 and 160m, did they not drill deep enough in those holes?
So half the holes have significant lithium mineralisation including a world class strike over 60m
No idea which bit of the RNs you are reading pal.
Holes 10 and 18 (referred to) are alongside Hole 4 so should show similar results and Hole 19 (also referred to ) is close by.
Not sure about Hole 1 which is closer to Hole 3 with it's poor results and also 11 is near this too.
Holes 2, 12 and 13 are all close to Holes 5 and 6 which have returned 'no significant mineralisation' while the rest of the holes, 8, 9, 14, 15, 16, 17 are all further away from Hole 4.
Oh and Hole 7 is the other end from the successful Hole 4.
The remaining assays will be interesting.
One of 4 holes with more results to come.
You almost come across bitter. Jog on.
It's just as well they hit decent grades of lithium in 1 of the 4 holes otherwise this might have been bombing like MILA today.
Agreed. Best results I’ve seen for a long time.
Fact it hasn’t moved is market mechanics from
Seed investors. Will move soon and could easily triple from here in no time.
Patience
Art it’s a scout drill & it pulled up 64m at 1.24% Li2O from 76m. Wtf are you smoking ??
“Rather disappointing”
Art- disagree entirely so does ceo
"These first assay results from our scout drilling at Atex show the first significant intercepts, including 64m, grading 1.24% Li2O. This is exceptional and amongst the best intercepts recently reported by our global peers and confirm the presence of lithium in our pegmatite system. We look forward to announcing the remaining assay results in the coming weeks, in particular the results for holes 18 and 19 for which we previously announced significant pegmatite intercepts with visible spodumene.
The assay results are okay at best. It's just as well they hit decent grades of lithium in 1 of the 4 holes otherwise this might have been bombing like MILA today.
Considering that the post end of drill update announced that "Pegmatite was intersected in all 19 drill holes" and that they had "Visual identification of lithium mineralisation in 18 of the 19 drill holes" the assays are really quite disappointing.
2 of the 4 holes reported (TVDD0005 and TVDD0006) have no significant mineralisation at all and TVDD0003 with assays of 15m at 0.59% Li2O from 37m, including § 4m at 1.95% Li2O from 45m has all but missed. That is not a commercial result.
Only TDVD0004 - 64m at 1.24% Li2O from 76m - has anything to get excited about.
On the plus side they have a JV now and the funds to drill so things can only get better.
Yep. Accumulating here medium term.
Been in some of the best risers over the years and this has all the hallmarks. It’s better value today at 16p than last month at 7p as there was no substance to a valuation with no results.
I think I will triple my money here before long. Not today but I’m making the most of the opportunity and scaling
19.5p for £70k
This should start to move up soon.
For sure. Finally in profit and have volume so sell into.
Tried a few XL dummies this morning, could get £190k in one hit at 16.3 for first hour.
Now largest volume they will allow = £50k @ 17.4p
Lithium news from Firering Strategic Metals.
With only a few of the 19 bore hole data sets released and keeping in mind the released data v Atlantic Lithium licence close by, they tally up geologically very well.
In very short time the news will spread on this very under the radar company and asset and like ALL the price will begin to reflect the asset global quality.
This is imho with data to come , undervalued.
Seed investors selling imo.
This is nowhere near priced in. Not in a million years imo.
Good time to accumulate more
Average grade in drill 04 from approx 100m in strike length , depth 75m down to 140m strata is approx 1.5%.
100m length x approx ave strata depth containing 1.5% is around 120m depth across the 100m strike.
A good solid chunk to strip out open plan.
That just one test drill strata !!!
LITHIUM NEWS
Firering Strategic Metals 4% Highest Grade Intercept so far = WORLDCLASS
Makes you think this is over cooked from the rise / priced in… Then you look at the market cap / news flow to come & fully funded. It’ll go higher imo, £14m is peanuts even in this s**t economy.
With the ricca board made up of the guys that discovered ALL'S lithium in Ghana they will bring a wealth of knowledge and experience to FRG.