Firering Strategic Minerals shares gained 4.4% to 7p in early afternoon trading on Thursday, after the Rare Earth Elements (REE) company announced all 11 holes at its recent flagship Atex project drill programme intersected pegmatite.
The mining group said 10 holes revealed visual lithium mineralisation. Firering Strategic Materials added the strike of lithium bearing pegmatites at Atex was confirmed for 700 metres and still open-ended along strike and down dip, suggesting Atex could potentially host a “very significant” lithium resource.
The company mentioned all initially planned pits for metallurgical test work were completed and sampled, with a further three pits planned for operational work.
Firering Strategic Minerals confirmed work programmes were ongoing and assays were expected in the coming weeks.
“I am delighted to provide an update on our core drilling programme which is continuing successfully with pegmatites intersected in every hole.,” said Firering Strategic Minerals CEO Yuval Cohen.
“Lithium mineralisation was visually observed in ten out of the eleven holes drilled to date and we are eagerly awaiting the assay and XRD results.”
“The discovery of yet another potential pegmatite field in the NNW of our licence area provides further support of the potential of Atex becoming the next lithium development project in West Africa. We look forward to providing the market with our ongoing exploration results”