AI assistant
FIREBIRD METALS LIMITED — Capital/Financing Update 2021
Nov 10, 2021
64941_rns_2021-11-10_d09c26cc-c1cb-4523-aea5-f3d18e6ea1d8.pdf
Capital/Financing Update
Open in viewerOpens in your device viewer
==> picture [206 x 54] intentionally omitted <==
ASX / MEDIA ANNOUNCEMENT
11/11/2021
HILL 616 TECHNICAL REVIEW COMPLETE, CSA GLOBAL ENGAGED FOR RESOURCE WORK
Highlights
-
Technical Review of Hill 616 prospect completed by CSA Global
-
Review highlighted significant resource potential for manganese mineralisation based on historical drilling
-
Hill 616 exhibits many of the geological characteristics of flagship Oakover Project
-
CSA Global reviewed results from historical 162 hole, ~4,977m drilling program completed at Hill 616 between 2009-2011
-
Large number of Significant Manganese intercepts, including:
-
13m @ 15.1% Mn from Surface
-
12m @15.9 % Mn from 4m
-
12m @15.2 % Mn from 3m
-
10m @15.8 % Mn from 2m
-
Mineralisation was found to be shallow (mostly within 20 metres of the surface), gently dipping and laterally extensive across target area
-
CSA Global contracted to complete maiden Mineral Resource Estimate (MRE), with completion expected in December
-
Work at Hill 616 complimentary to Oakover Rapid Development Program, which contains Sixty Sixer and Karen prospects:
-
Recent Drilling completed at Sixty Sixer and Karen – awaiting assay results
-
CSA Global engaged to also complete updated Oakover MRE
Firebird Metals Limited ( ASX: FRB , “ Firebird ” or “ the Company ”) is pleased to announce the technical review of Hill 616, which is located 85km southeast of Newman has been completed. CSA Global Pty Ltd was engaged to complete the review, which focused on assessing the historical work completed at Hill 616 to determine whether a Mineral Resource could be estimated.
Between 2009-2011, the previous owner Errawarra Pty Ltd (Errawarra) completed 162 holes for ~4,977m at Hill 616 (refer to Table 1 ), with majority of drilling being reverse circulation percussion (RCP) methods on an approximate 200m by 100m spaced grid. Diamond drilling for preliminary metallurgical testwork was also completed.
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
| **Drill Type ** | Drill Holes | Year | No. Drill Holes | Metres | Drill spacing |
|---|---|---|---|---|---|
| AC | JAC236 – JAC260 | 2009 | 25 | 578 | Variable |
| Diamond Core | JDDH01 – JDDH16 | 2011 | 16 | 408.4 | Variable |
| RCP | JMRC015 – JMRC169 |
2011 | 121 | 3,991 | 200m by 100m |
Table 1: Errawarra Drill Summary 2009-2011
Mineralisation at Hill 616 occurs as multiple seams or bands of varying thickness and was generally found at shallow depths (mostly within 20 metres of the surface), gently dipping and laterally extensive across the target area. The lateritic profile and subsequent manganese mineralisation show the zonation within the regolith and distribution of manganese mineralisation. The higher-grade manganese material is generally located within the upper portion of the regolith profile at shallow depths (0 to 15 metres).
| Drill hole | Easting | Northing | Dip | Azimuth | Depth | Depth from (m) |
Depth to(m) |
Interval (m) |
Mn % |
|---|---|---|---|---|---|---|---|---|---|
| JMRC015 | 247726 | 7373611 | -90 | 0 | 30 | 0 | 13 | 13 | 15.1 |
| JMRC018 | 247999 | 7373599 | -90 | 0 | 36 | 4 | 16 | 12 | 15.9 |
| JMRC023 | 247294 | 7373994 | -90 | 0 | 54 | 6 | 10 | 4 | 18.7 |
| JMRC025 | 247501 | 7374003 | -90 | 0 | 48 | 7 | 13 | 6 | 17.8 |
| JMRC031 | 248098 | 7374000 | -90 | 0 | 36 | 2 | 11 | 9 | 14.1 |
| JMRC051 | 248001 | 7374204 | -90 | 0 | 36 | 3 | 15 | 12 | 15.2 |
| JMRC058 | 247598 | 7374402 | -90 | 0 | 30 | 1 | 5 | 4 | 18.0 |
| JMRC060 | 247800 | 7374402 | -90 | 0 | 36 | 2 | 12 | 10 | 15.8 |
| JMRC066 | 248394 | 7374401 | -90 | 0 | 36 | 5 | 14 | 9 | 16.2 |
| JMRC070 | 247802 | 7374602 | -90 | 0 | 30 | 1 | 5 | 4 | 14.9 |
| Including | 1m | @ | 32.22% | ||||||
| JMRC083 | 247799 | 7374801 | -90 | 0 | 36 | 2 | 9 | 7 | 15.2 |
| Including | 1m | @ | 30.13% | ||||||
| JMRC087 | 248197 | 7374802 | -90 | 0 | 36 | 10 | 12 | 2 | 14.3 |
| Including | 1m | @ | 33.23% | ||||||
| JMRC087 | 248197 | 7374802 | -90 | 0 | 36 | 14 | 19 | 5 | 17.4 |
| JMRC146 | 247696 | 7373409 | -90 | 0 | 30 | 4 | 10 | 6 | 15.1 |
| JMRC150 | 248104 | 7373404 | -90 | 0 | 36 | 9 | 21 | 12 | 14.7 |
| JMRC151 | 248203 | 7373403 | -90 | 0 | 36 | 8 | 13 | 5 | 14.5 |
| JMRC165 | 248310 | 7373205 | -90 | 0 | 36 | 4 | 14 | 10 | 14.9 |
| JMRC168 | 248600 | 7373206 | -90 | 0 | 24 | 6 | 10 | 4 | 25.6 |
| Including | 1m | @ | 31.76% | ||||||
| JMRC169 | 248696 | 7373202 | -90 | 0 | 18 | 9 | 11 | 2 | 15.7 |
Table 2: Significant Hill 616 Historical Manganese Results
Importantly, based on the findings from the review, CSA Global highlighted significant potential for a maiden MRE to be established at Hill 616, with no further drilling required. CSA Global has been engaged to complete the MRE, with completion of the work expected in December.
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
Hill 616 is an exciting development opportunity for Firebird and exhibits many of the geological characteristics of the Company’s flagship Oakover Project, which contains an existing 64Mt Resource, with significant exploration and growth upside.
==> picture [242 x 180] intentionally omitted <==
Image 1: Manganese Mineralisation at Hill 616 Source: Wamex a84892
The work undertaken at Hill 616 is complementary to the Oakover Rapid Development Program, which is focused on evaluating the Company’s speed-to-market options, including Direct Shipping Ore (“DSO”) and simple beneficiation processes to generate early cash-flow, to ultimately underpin a long-term strategy of manganese sulphate production for batteries or electrolytic manganese metal industries.
Firebird has recently completed drilling at Sixty Sixer and Karen and is awaiting assay results. CSA Global has also been engaged to complete an updated MRE at Sixty Sixer and Karen once drill assay results have been received and evaluated.
Commenting on the development opportunity at Hill 616 and commencement of MRE work, Firebird Managing Director Mr Peter Allen said: “We are extremely happy with the findings from the technical review of Hill 616 by CSA Global. Fortunately, there was a significant amount of historical work completed at Hill 616, which will allow us to establish a Mineral Resource Estimate without having to complete any further drill holes or exploration work. We want to keep moving in a positive and efficient manner at Hill 616 and we have engaged CSA Global to complete the MRE, with an expectation that we can announce the findings to the market in early December.
“The geological characteristics of Hill 616 is very similar to our flagship Oakover Project, which contains Sixty Sixer and Karen prospects. Importantly, Hill 616 provides Firebird with an additional development opportunity as we progress our Oakover Rapid Development program, to assess speed-to-market opportunities to ensure the Company is well positioned to leverage a market window to meet growing manganese demand for the battery minerals and infrastructure market.”
“We have a busy end to our first year as a listed Company, as we focus on completing exploration and development work and assessing assay results from Oakover along with advancing development work at Hill 616.”
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
==> picture [425 x 582] intentionally omitted <==
Figure 1: Firebird Project Map
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
==> picture [423 x 580] intentionally omitted <==
Figure 2: Hill 616 Tenement
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
Error! Reference source not found. 3 shows reported significant manganese intercepts (determined by using a minimum cut-off of 2 metres grading at an average of 14% Mn or greater, with no more than 2 metres of consecutive internal dilution).
| Drill hole | Eastng | Northing | Dip | Azimuth | Depth | Depth from (m) |
Depth to (m) |
Interval (m) |
Mn % |
|---|---|---|---|---|---|---|---|---|---|
| JMRC015 | 247726 | 7373611 | -90 | 0 | 30 | 0 | 13 | 13 | 15.1 |
| JMRC015 | 247726 | 7373611 | -90 | 0 | 30 | 14 | 17 | 3 | 15.6 |
| JMRC018 | 247999 | 7373599 | -90 | 0 | 36 | 4 | 16 | 12 | 15.9 |
| JMRC019 | 248101 | 7373597 | -90 | 0 | 36 | 11 | 16 | 5 | 14.4 |
| JMRC020 | 248198 | 7373600 | -90 | 0 | 36 | 4 | 7 | 3 | 14.5 |
| JMRC021 | 248295 | 7373600 | -90 | 0 | 36 | 7 | 9 | 2 | 15.7 |
| JMRC022 | 248400 | 7373601 | -90 | 0 | 36 | 9 | 13 | 4 | 15.1 |
| JMRC022 | 248400 | 7373601 | -90 | 0 | 36 | 20 | 23 | 3 | 15.6 |
| JMRC023 | 247294 | 7373994 | -90 | 0 | 54 | 6 | 10 | 4 | 18.7 |
| JMRC024 | 247398 | 7373997 | -90 | 0 | 36 | 6 | 14 | 8 | 15.1 |
| JMRC025 | 247501 | 7374003 | -90 | 0 | 48 | 7 | 13 | 6 | 17.8 |
| JMRC026 | 247597 | 7374003 | -90 | 0 | 30 | 8 | 10 | 2 | 15.8 |
| JMRC029 | 247900 | 7373997 | -90 | 0 | 36 | 12 | 14 | 2 | 15.0 |
| JMRC030 | 247997 | 7373999 | -90 | 0 | 30 | 6 | 8 | 2 | 16.6 |
| JMRC030 | 247997 | 7373999 | -90 | 0 | 30 | 11 | 14 | 3 | 14.4 |
| JMRC031 | 248098 | 7374000 | -90 | 0 | 36 | 2 | 11 | 9 | 14.1 |
| JMRC032 | 248194 | 7373994 | -90 | 0 | 36 | 11 | 14 | 3 | 14.0 |
| JMRC036 | 248599 | 7373602 | -90 | 0 | 30 | 9 | 12 | 3 | 15.4 |
| JMRC037 | 247694 | 7373801 | -90 | 0 | 36 | 0 | 4 | 4 | 16.8 |
| JMRC038 | 247804 | 7373806 | -90 | 0 | 30 | 0 | 2 | 2 | 14.4 |
| JMRC040 | 247996 | 7373800 | -90 | 0 | 30 | 12 | 15 | 3 | 14.9 |
| JMRC041 | 248101 | 7373801 | -90 | 0 | 30 | 5 | 9 | 4 | 16.0 |
| JMRC041 | 248101 | 7373801 | -90 | 0 | 30 | 11 | 13 | 2 | 15.7 |
| JMRC042 | 248196 | 7373801 | -90 | 0 | 30 | 4 | 8 | 4 | 14.6 |
| JMRC042 | 248196 | 7373801 | -90 | 0 | 30 | 10 | 12 | 2 | 14.0 |
| JMRC043 | 248298 | 7373804 | -90 | 0 | 36 | 4 | 11 | 7 | 14.1 |
| JMRC045 | 248498 | 7373803 | -90 | 0 | 36 | 23 | 25 | 2 | 15.1 |
| JMRC046 | 247504 | 7374192 | -90 | 0 | 36 | 7 | 9 | 2 | 14.3 |
| JMRC047 | 247596 | 7374201 | -90 | 0 | 30 | 5 | 12 | 7 | 15.0 |
| JMRC048 | 247699 | 7374193 | -90 | 0 | 48 | 0 | 3 | 3 | 15.3 |
| JMRC048 | 247699 | 7374193 | -90 | 0 | 48 | 4 | 9 | 5 | 14.6 |
| JMRC049 | 247798 | 7374196 | -90 | 0 | 30 | 13 | 17 | 4 | 16.2 |
| JMRC050 | 247899 | 7374206 | -90 | 0 | 30 | 5 | 7 | 2 | 14.6 |
| JMRC051 | 248001 | 7374204 | -90 | 0 | 36 | 3 | 15 | 12 | 15.2 |
| JMRC052 | 248103 | 7374197 | -90 | 0 | 30 | 12 | 15 | 3 | 14.0 |
| JMRC053 | 248196 | 7374204 | -90 | 0 | 36 | 7 | 9 | 2 | 17.1 |
| JMRC053 | 248196 | 7374204 | -90 | 0 | 36 | 10 | 12 | 2 | 14.3 |
| JMRC054 | 248299 | 7374203 | -90 | 0 | 36 | 8 | 11 | 3 | 15.6 |
| JMRC056 | 247404 | 7374402 | -90 | 0 | 30 | 7 | 9 | 2 | 16.3 |
| JMRC057 | 247500 | 7374398 | -90 | 0 | 30 | 1 | 5 | 4 | 15.5 |
| JMRC058 | 247598 | 7374402 | -90 | 0 | 30 | 1 | 5 | 4 | 18.0 |
| JMRC059 | 247704 | 7374402 | -90 | 0 | 30 | 3 | 7 | 4 | 17.8 |
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
| JMRC060 | 247800 | 7374402 | -90 | 0 | 36 | 2 | 12 | 10 | 15.8 |
|---|---|---|---|---|---|---|---|---|---|
| JMRC061 | 247898 | 7374401 | -90 | 0 | 30 | 6 | 8 | 2 | 14.7 |
| JMRC062 | 247996 | 7374402 | -90 | 0 | 30 | 4 | 10 | 6 | 14.0 |
| JMRC064 | 248196 | 7374400 | -90 | 0 | 30 | 14 | 18 | 4 | 15.7 |
| JMRC065 | 248296 | 7374402 | -90 | 0 | 36 | 12 | 19 | 7 | 14.9 |
| JMRC066 | 248394 | 7374401 | -90 | 0 | 36 | 5 | 14 | 9 | 16.2 |
| JMRC066 | 248394 | 7374401 | -90 | 0 | 36 | 20 | 22 | 2 | 14.2 |
| JMRC067 | 248489 | 7374402 | -90 | 0 | 36 | 24 | 28 | 4 | 14.9 |
| JMRC070 | 247802 | 7374602 | -90 | 0 | 30 | 1 | 5 | 4 | 14.9 |
| Including | 1m | @ | 32.22% | ||||||
| JMRC074 | 248202 | 7374601 | -90 | 0 | 36 | 8 | 13 | 5 | 14.2 |
| JMRC074 | 248202 | 7374601 | -90 | 0 | 36 | 26 | 30 | 4 | 15.1 |
| JMRC076 | 248396 | 7374602 | -90 | 0 | 36 | 11 | 15 | 4 | 16.1 |
| JMRC078 | 248600 | 7374588 | -90 | 0 | 36 | 12 | 14 | 2 | 14.3 |
| JMRC083 | 247799 | 7374801 | -90 | 0 | 36 | 2 | 9 | 7 | 15.2 |
| Including | 1m | @ | 30.13% | ||||||
| JMRC084 | 247898 | 7374802 | -90 | 0 | 36 | 5 | 9 | 4 | 15.3 |
| JMRC084 | 247898 | 7374802 | -90 | 0 | 36 | 10 | 13 | 3 | 14.2 |
| JMRC085 | 247997 | 7374801 | -90 | 0 | 36 | 6 | 9 | 3 | 14.8 |
| JMRC085 | 247997 | 7374801 | -90 | 0 | 36 | 12 | 14 | 2 | 15.8 |
| JMRC086 | 248099 | 7374803 | -90 | 0 | 36 | 11 | 14 | 3 | 15.3 |
| JMRC087 | 248197 | 7374802 | -90 | 0 | 36 | 10 | 12 | 2 | 14.3 |
| Including | 1m | @ | 33.23% | ||||||
| JMRC087 | 248197 | 7374802 | -90 | 0 | 36 | 14 | 19 | 5 | 17.4 |
| JMRC088 | 248296 | 7374810 | -90 | 0 | 30 | 6 | 8 | 2 | 15.2 |
| JMRC089 | 248398 | 7374800 | -90 | 0 | 30 | 22 | 27 | 5 | 14.7 |
| JMRC090 | 248496 | 7374800 | -90 | 0 | 30 | 20 | 23 | 3 | 14.9 |
| JMRC096 | 248008 | 7375002 | -90 | 0 | 36 | 14 | 19 | 5 | 14.4 |
| JMRC097 | 248103 | 7374998 | -90 | 0 | 30 | 13 | 15 | 2 | 14.5 |
| JMRC098 | 248199 | 7375002 | -90 | 0 | 36 | 6 | 8 | 2 | 15.7 |
| JMRC111 | 248104 | 7375203 | -90 | 0 | 30 | 3 | 6 | 3 | 14.8 |
| JMRC146 | 247696 | 7373409 | -90 | 0 | 30 | 4 | 10 | 6 | 15.1 |
| JMRC148 | 247896 | 7373406 | -90 | 0 | 24 | 11 | 13 | 2 | 14.1 |
| JMRC149 | 247999 | 7373399 | -90 | 0 | 30 | 9 | 13 | 4 | 14.7 |
| JMRC150 | 248104 | 7373404 | -90 | 0 | 36 | 9 | 21 | 12 | 14.7 |
| JMRC151 | 248203 | 7373403 | -90 | 0 | 36 | 8 | 13 | 5 | 14.5 |
| JMRC161 | 247893 | 7373206 | -90 | 0 | 24 | 18 | 20 | 2 | 14.5 |
| JMRC162 | 248009 | 7373200 | -90 | 0 | 30 | 18 | 21 | 3 | 14.1 |
| JMRC163 | 248100 | 7373193 | -90 | 0 | 42 | 11 | 14 | 3 | 14.2 |
| JMRC164 | 248206 | 7373203 | -90 | 0 | 30 | 9 | 12 | 3 | 15.3 |
| JMRC165 | 248310 | 7373205 | -90 | 0 | 36 | 4 | 14 | 10 | 14.9 |
| JMRC166 | 248406 | 7373203 | -90 | 0 | 30 | 0 | 6 | 6 | 14.7 |
| JMRC167 | 248503 | 7373203 | -90 | 0 | 24 | 4 | 7 | 3 | 14.6 |
| JMRC168 | 248600 | 7373206 | -90 | 0 | 24 | 6 | 10 | 4 | 25.6 |
| Including | 1m | @ | 31.76% | ||||||
| JMRC169 | 248696 | 7373202 | -90 | 0 | 18 | 9 | 11 | 2 | 15.7 |
Table 3: Historical Hill 616 Manganese Results
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au
==> picture [206 x 54] intentionally omitted <==
-ENDS-
For enquiries regarding this release please contact:
Mr Peter Allen Michael Weir / Cameron Gilenko Managing Director Citadel-MAGNUS Ph +61 8 6245 9818 0402 347 032/ 0466 984 953 Email: [email protected]
About Firebird Metals Limited
FRB is an exploration and development company that owns 100% of three highly prospective manganese projects in the renowned East Pilbara manganese province of Western Australia:
-
Oakover Project – Inferred JORC 2012 Mineral Resource estimate of 64 Mt @ 10% Mn
-
Hill 616 Manganese Project - >3,500 metres drilled along strike length of 2.6km
-
Disraeli Manganese Project – potential Woodie Woodie style mineralisation
The Company’s primary focus will be on the flagship Oakover Project which is located 85 km east of Newman and covers approximately 360 km[2] . Oakover has an Inferred Mineral Resource estimate of 64Mt at 10% Mn (reported in accordance with the JORC Code 2012(H&SC Consultants, August 2012) at the Sixty Sixer and JayEye prospects.
The Inferred Mineral Resource estimate combined with historical exploration work provides a solid technical foundation for further development, with the company planning to complete additional infill and extensional drilling in conjunction with modern metallurgical test work utilising lower cost DMS and ore sorting techniques to deliver marketable manganese products to the global steel and battery markets.
Competent Persons Statement
The information in this Report that relates to Exploration Results and Mineral Resources of the Company is based on, and fairly represents, information and supporting documentation that has been reviewed and prepared by Robert Wason, who is a Senior Consultant - Geology at Mining Insights Pty Ltd and is a member of AusIMM.
Mr. Wason has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which they are undertaking to qualify as an Expert and Competent Person as defined under the VALMIN Code and in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (“JORC Code 2012”). Mr. Wason consents to the inclusion in this announcement of the matters based on the information in the form and context in which they appear.
For JORC Table 1 details refer to the Firebird Metals Limited Prospectus dated 16/03/2021 which contains the Independent Geologist Report and subsequent JORC Table 1 for all project including Hill 616.
ABN: 24 610 035 535 A: Suite 20, 513 Hay Street, Subiaco WA 6008 | P: +61 8 6245 9818 | E: [email protected]| W: www.firebirdmetals.com.au