Is Firering the next big Lithium play in West Africa?
“…We need a year to finish a proper maiden resource…”
To fully appreciate the business plan that Firering Strategic Minerals is based on, investors need to know what pegmatites are, otherwise the communication coming from the company won’t be appreciated.
To borrow the Encyclopedia of Geology’s description, pegmatites are unusually coarse-grained crystalline igneous rocks, usually of granitic composition and characterized by interlocking crystals several centimeters up to tens of meters in length. And they are important because they often contain rare earth minerals and gemstones.
In Firering’s case they contain lithium and tantalum, and the company is calculating just how big a resource it has on its 77% owned Atex Lithium-Tantalum Project.
Technical consultant Marc Struick impressed on the board that they had to focus on this project as it “could be the next big lithium project in West Africa.” He made that statement almost two years ago, and on a site visit with CEO Yuval Cohen in August another pegmatite field was found and the potential of the project got bigger.
The potential is inspiring envy. Struick talks about a vibe about the Atex project. In conversations overheard in Abidjan the economic capital of the Ivory Coast, it’s being talked about at government level and peers are keen to know what’s occurring.
What’s occurring is being broadcast in regulatory news updates with the latest release announcing all eleven holes drilled so far intersected those all-important pegmatites with visible observations of lithium mineralisation in ten out of eleven drill holes.
Assay results are due in the final quarter of the year and Marc tells Sarah Lowther that a maiden resource could be forthcoming in a year, while Yuval’s ultimate ambition is to put the Ivory Coast on the world map of critical minerals.
Watch Yuval launch the initial drill campaign at Atex in search of the not so elusive pegmatite(s).
Access the company’s latest Atex-Alliance Auger and Soil Sample Results
Follow the company on Twitter @FireRing_SM
The author was remunerated but does not hold shares in the company