(Alliance News) - Firering Strategic Minerals PLC on Monday said it started its reverse circulation drilling campaign at Atex, its flagship lithium project in Ivory Coast.
The West African focussed mineral mining company said the programme started at identified lithium bearing pegmatite targets which it said was the next crucial phase for Atex.
Firering Strategic expects drilling to complete in four to six weeks, with details of pegmatite intercepts to be announces over the coming weeks. The company expects first assay results in the first quarter of 2024.
Chief Executive Officer Yuval Cohen said: "This next phase of drilling at Atex will be crucial to Firering as we look to rapidly advance the project and build on the highly encouraging results from the diamond drilling campaign undertaken in Q4 2022, which demonstrated the first significant intercepts from Atex, including an intercept of 64 metres at 1.24% lithium oxide near Spodumene Hill, which is truly exceptional and amongst the best intercepts reported at that time by our global peers.
Firering Strategic shares rose 2.2% to 4.65 pence each on Monday afternoon in London.
By Tom Budszus, Alliance News slot editor
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Firering Strat (FRG)