RC drilling campaign commenced at Atex

Firering, an exploration company focusing on critical minerals, is pleased to announce that it has commenced its 3,000m Reverse Circulation ("RC") drilling campaign at Atex, its flagship lithium project in Côte d'Ivoire.

Highlights

• 3,000m RC drilling programme commenced at identified lithium bearing pegmatite targets, the next crucial phase for Atex.
• RC holes expected to build upon significant intercepts obtained during the diamond drilling ("DD") campaign in 2022 near Spodumene Hill, in addition to new targets identified by the 2023 auger drilling campaign.
• Drilling is expected to be completed in four to six weeks and details of pegmatite intercepts will be announced as they become available over the coming weeks.

Yuval Cohen, Chief Executive Officer of Firering, 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 64m @ 1.24% Li2O near Spodumene Hill, which is truly exceptional and amongst the best intercepts reported at that time by our global peers.

"Although the RC programme is expected to conclude in four to six weeks, we will update the market as intercepts are made available over the coming weeks. Samples will be sent to Intertek for assaying and first assay results are expected during Q1 2024.

"This is an exciting phase for our flagship Atex Project and am looking forward to announcing the assay results in due course."

Commencement of RC drilling campaign

RC drilling commenced at Atex in January 2024. Hole locations were finalised in December 2023 (refer Figure 1) based on the pXRF and LIBS data from the 2023 soil sampling campaign at Atex, as well as an updated structural interpretation using the data from recent pXRF test work completed on the diamond drill core from the 2022 DD campaign. The RC drilling campaign should be completed within four to six weeks. All RC holes are being logged and sampled at 1m intervals with all fresh pegmatite samples sent to Intertek Laboratories in Côte d'Ivoire for sample preparation, after which the prepared samples will be sent to Intertek Laboratories in Australia for assaying. The drilling is planned to intersect fresh pegmatite beneath the weathered pegmatite identified during the DD and auger drilling campaigns, to test the potential lithium mineralisation of these pegmatites and to test the strike length of the pegmatite zone NNE of Spodumene Hill. Assay results are expected towards the end of Q1 2024 and will be used to direct future drilling programmes.

Figure 1: Plan view of the hole locations for the initial RC holes.

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