(Alliance News) - Firering Strategic Minerals PLC has begun a two-year exploration drilling programme in the Ivory Coast, the minerals exploration firm said Monday.
The Atex Lithium-Tantalum project has the potential to become "Africa's next significant lithium pegmatite and coltan resource", Firering claimed.
The project is fully funded by the proceeds of Firering's recent initial public offering and has approval from CSA Global, the company added.
The drill will comprise two phases: 4,000 metres of auger drilling and 2,100 metres of diamond drilling, followed by a second phase encompassing 1,500 metres of auger drilling and 4,900 metres of diamond.
"The swift start of our drilling programme at Atex, following our successful London listing earlier this month, is testament to our prime focus on defining the depth and extent of the lithium bearing pegmatites and coltan mineralisation at our flagship asset," said Chief Executive Yuval Cohen. "We are excited about the road ahead and look forward to updating the market on our drilling progress in due course."
Shares in Firering Strategic Minerals were down 0.4% at 13.30 pence on Monday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Firering Strat (FRG)