(Alliance News) - Firering Strategic Minerals PLC on Monday said it has started a two-year exploration drilling programme in the Ivory Coast.
The drilling programme at the Atex Lithium-Tantalum project is believed to have the potential to become Africa's next significant lithium pegmatite and coltan resource.
The project is fully funded by the proceeds of Firering's recent initial public offering and has approval from CSA Global.
It will comprise of two phases: 4,000 metres of auger drilling and 2,100 metres of diamond drilling, followed by 1,500 metres of auger drilling and 4,900 metres of diamond.
The start of the drilling programme is an important milestone for Firering and advances its objective to become an important supplier of ethically sourced, strategic minerals.
"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.
"We are excited about the road ahead and look forward to updating the market on our drilling progress in due course," Chief Executive Yuval Cohen said.
Shares in Firering Strategic Minerals ended down 0.4% at 13.30 pence on Monday in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Firering Strat (FRG)