Firebird MetalsASX:FRB Stock Report

Firebird Metals Limited Announces Update on Oakover Rapid Development

Firebird Metals Limited Announces Commencement of a Rapid Development Program at the Flagship Oakover Manganese Project in WA's Pilbara

Firebird Metals Limited announced commencement of a Rapid Development Program at the flagship Oakover Manganese Project in WA's Pilbara, following the recent completion of heritage surveys covering Sixty Sixer, Jay-Eye and Karen prospects. The objective of the drilling and metallurgical program will evaluate the Company's speed-to-market options, focused on Direct Shipping Ore ("DSO") and simple beneficiation processes (DMS and Ore Sorting) at Oakover to generate early cash-flow and underpin a longer-term strategy of production of manganese sulphate for batteries or electrolytic manganese metal industries. Data from the drill campaign, beneficiation study and logistics study will provide critical information to feed into a Pre-Feasibility Study, that is expected to be completed in the first quarter 2022. A recently completed technical review by CSA Global Pty Ltd. (CSA Global) highlighted the significant exploration and development upside at Oakover and as such the upcoming RC drill program has been increased to 11,500m from the previously planned 5,000m. In addition to the resource drilling, selective bulk samples will be collected across the Oakover project for updated metallurgical testing, which will focus on beneficiation test work using both dense media separation and ore sorting as well as leaching test work with the results feeding into the Study. A total of 244 vertical RC drill holes, to a nominal depth of 40 m each, for a total of 9,760m of drilling have been proposed to infill and extend manganese mineralisation at the Sixty Sixer and Jay-Eye prospects including: 55 holes (2,200 m of drilling), to infill the present 100 m by 50 m approximately spaced grid to an approximate spacing of 50 m by 50 m, in the central section of the prospect 71 holes (2,840 m of drilling), to infill the present 200 m by 100 m approximately spaced grid to an approximate spacing of 100 m by 50 m, on the south-west and north-east extents of the Mineral Resource estimate 118 extension holes at the Sixty Sixer (87 holes) and Jay Eye (31 holes) prospects (combined 4,720 m of drilling) aimed at increasing the tonnage of the existing resource to the west, east and north. The holes are spaced on a 200 m by 100 m grid. A total of 45 RC drill holes totaling 1,800 m of drilling are proposed to test for extension to the manganese mineralisation previously intersected at the Karen prospect. The drill holes are designed to be vertical with a nominal target depth of 40 m and are spaced on a 200 m by 100 m grid. CSA Global technical review also identified numerous regional targets which have been earmarked for the stage two exploration program, which is being planned and targeted for commencement following completion of the upcoming program.

Insider recently bought AU$235k worth of stock

On the 23rd of March, Tolga Kumova bought around 605k shares on-market at roughly AU$0.39 per share. In the last 3 months, they made an even bigger purchase worth AU$986k. Insiders have collectively bought AU$1.2m more in shares than they have sold in the last 12 months.

Insider recently bought AU$887k worth of stock

On the 11th of March, Tolga Kumova bought around 4m shares on-market at roughly AU$0.20 per share. This was the largest purchase by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.

Firebird Metals Limited Appoints Evan Cranston as Director

Firebird Metals Limited appointed Evan Cranston as Director, effective from 18 March 2021.