Last checked at 18 Nov 2021 07:00
Firering Strategic Minerals plc / EPIC: FRG / Market: AIM / Sector: Mining
18 November 2021
Firering Strategic Minerals plc
Appointment of Key Contactors
Firering Strategic Minerals plc ('Firering' or 'the Company'), an exploration company focusing on critical minerals, is pleased to announce the appointment, and arrival on site, of experienced contractors to support a comprehensive exploration programme at the Atex Lithium-Tantalum Project in the Côte d'Ivoire ('Atex' or 'the Project'). This exploration programme at Atex, which the Board believes has the potential to become Africa's next significant lithium pegmatite and coltan resource, is fully funded from the proceeds of the recent IPO.
Key highlights:
· Appointment of key contractors to conduct detailed geological mapping and drilling to determine the extent and depth of the lithium bearing pegmatites at flagship Atex Project as well as define coltan resources:
o Appointment of SEMS Exploration ('SEMS') - a leading mineral exploration and mining consultancy company in West Africa, to conduct a detailed geological mapping ahead of the commencement of a two-year drilling programme commencing in late November.
o CSA Global engaged as its independent geological expert building on the work conducted by CSA Global for the Competent Persons Report ("CPR") included within Firering's admission document for its IPO on 12 November 2021
o Royal Mining ('RM') appointed as drilling contractor to execute its initial auger drilling campaign. RM is a West African based contractor with the appropriate experience, having worked on gold and lithium projects, including IronRidge Resources' exploration licences in Côte d'Ivoire and Ghana.
· Atex's initial exploration programme includes 5,500m of auger drilling and 7,000m of diamond drilling with the aim to identify lithium and columbite-tantalite ('coltan') targets for resource definition.
· The appointment and arrival of key contractors on site marks the first significant milestone supporting Firering's objective to become a major producer of ethically sourced, strategic minerals required for the transition to a green economy.
Yuval Cohen, Chief Executive of Firering Strategic Minerals, said:
"We are delighted to announce the appointment of SEMS Exploration, CSA Global and Royal Mining - all of whom are experienced exploration and mining consultants/contractors in West Africa and who have a vital role in our forthcoming exploration programme focused on critical minerals including lithium, niobium and tantalite.
"Pushing the start button on our exploration plan is not only exciting but also urgent considering the forecasted surge in demand for electric vehicles and the shortage of commodities like lithium for example, a key component of EV batteries, which is hailed by the European Union and the United States as a critical mineral for the transition to a net zero economy."
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information visit www.fireringplc.com or contact the following:
Firering Strategic Minerals Yuval Cohen Tim Daniel | Tel: +44 20 7236 1177 |
SPARK Advisory Partners Limited Nominated Adviser Neil Baldwin / James Keeshan / Adam Dawes | Tel: +44 20 3368 3550
|
Optiva Securities Limited Broker Christian Dennis / Jeremy King | Tel: +44 20 3137 1903 |
St Brides Partners Limited Financial PR Susie Geliher / Oonagh Reidy | T: +44 20 7236 1177 E: firering@stbridespartners.co.uk |
Notes to Editors:
Firering Strategic Minerals
Firering Strategic Minerals plc is an AIM-quoted mining company focused on exploring and developing a portfolio of mines producing critical minerals in the Côte d'Ivoire including lithium and columbite-tantalite to support the global transition to net zero emissions. It operates the Atex Lithium-Tantalum Project in northern Côte d'Ivoire, which is prospective for both lithium and columbite-tantalite. Firering intends to advance development at Atex with a view to establishing pilot scale production of tantalum and niobium production within 18 months to generate early revenues and support further exploration work. A large-scale coltan production facility will be developed following pilot results, which will be supported by a debt facility of FCFA 5,057,000,000 (approximately €7,500,000) currently under negotiation to fund the entire scale-up plan to develop a portfolio of ethically sourced mineral projects in the Côte d'Ivoire, supplying EV batteries, high tech electronics and other fast-growing end markets.
SEMS Exploration
SEMS Exploration is the leading full-service mineral exploration and mining consultancy company in West Africa. It provides a full range of geological, mining engineering and environmental services; from grassroots reconnaissance through mineral resource estimations, project management and mine design to the supervision of feasibility studies. SEMS has provided technical and corporate support services to the Mineral Exploration and Mining Industry of West and Central Africa since 2002. It has a reputation for dedicated, high-quality work which has attracted a high calibre of staff from all disciplines within the mining sector.
Royal Mining
West African based Royal Mining are experienced operators in the region with clients including IronRidge Resources gold and lithium licenses in Cote d'Ivoire and in Ghana. RM's activities will be overseen by SEMS of Cote d'Ivoire and mining consultants CSA Global of South Africa.