Firering Strategic Minerals announced its first JORC-compliant mineral resource estimate for the Limeco quicklime project in Zambia. The estimate totals an impressive 145.2 metric tonnes, ensuring over 50 years of potential quicklime production. The assessment was carried out by Earthlab Exploration & Mining Consulting Pty Ltd, reflecting a 97% increase in resource tonnage compared to a non-compliant estimate from 2017.
CEO Yuval Cohen highlighted the identification of three key domains within the project—A, B, and C—with domain A being the current focal point. Domains B and C, however, offer additional opportunities to expand Limeco’s value through applications in diverse industries. The recent granting of a new exploration licence in September adds further potential to the project’s scope.
In trading on Wednesday morning, Firering’s stock price rose by 4.1%, reaching 5.62 pence in London. The company has also released its unaudited interim financial results for the six months ending 30 September 2024.
This milestone strengthens Firering’s position in the mining sector and demonstrates its commitment to sustainable long-term resource development.
Firering Strategic Minerals plc (LON:FRG) is an AIM-quoted mining company focused on becoming a near-term cash generating producer of Quicklime, through their Limeco Project in Zambia, whilst at the same time progressing with the exploration and development of their Atex Lithium Project, Côte d’Ivoire.
