Firering Strategic Minerals PLC, a mining company focused on Zambia and Ivory Coast, has announced a significant milestone for its Limeco quicklime project in Zambia. The company has released its maiden JORC-compliant mineral resource estimate, totaling 145.2 metric tonnes. This substantial resource estimate ensures a potential production lifespan of over 50 years.

The resource estimate was meticulously undertaken by Earthlab Exploration & Mining Consulting Pty Ltd. Notably, this represents a 97% increase compared to the previous non-compliant estimate from 2017.

The Limeco project has achieved a significant milestone with its JORC-compliant mineral resource estimate, now standing at 145.2 metric tonnes. This substantial resource ensures more than 50 years of potential quicklime production, highlighting the project's long-term viability.

The updated estimate marks a remarkable 97% increase compared to the 2017 non-compliant estimate, reflecting both the growth of the resource and the enhanced accuracy of the evaluation. Additionally, the identification of three distinct domains (A, B, and C) within the project opens up diverse opportunities for future value unlocking, allowing for potential applications across multiple industries. This development underscores the promising future of the Limeco project, offering a solid foundation for sustained production and industry growth.

CEO Yuval Cohen expressed his enthusiasm about the development and said, "Following the identification of three distinct domains within the project, A, B and C, including the new exploration license granted in September, domain A has been the primary area of focus. However, domains B and C present significant opportunities for Limeco to unlock additional value in the future, with potential applications across various industries."

The positive news has been well-received by the market, with Firering's stock price surging by 4.1% to 5.62 pence on Wednesday morning in London. Additionally, the company has released its unaudited interim financial results for the six months ending 30 September 2024.

This significant achievement solidifies Firering's position in the mining sector and underscores its commitment to sustainable, long-term resource development.

About Firering Strategic Minerals plc

Firering Strategic Minerals plc is an AIM-quoted mining company focused on becoming a near-term producer of Quicklime through its Limeco Project in Zambia and advancing its Atex Lithium Project in Côte d'Ivoire. With a 45% equity interest in Limeco, the project has the potential to produce 600-800 tons of Quicklime daily, supported by over $100 million in historical investment. The company aims to begin commissioning in Q4 2024. Both projects are in conflict-free regions with strong demand for their products, particularly from Zambia’s copper sector and Africa’s cement and concrete industries. Firering is backed by a skilled board and management team.