EXPLORATION & DEVELOPMENT

Firebird bulks up Oakover manganese resource

Explorer says resource well above initial expectations

 Firebird is now looking at a larger manganese option

Firebird is now looking at a larger manganese option

Describing the resource upgrade as a "game-changer", which exceeded the company's expectations, Oakover's scale has been boosted by 170%, or 108 million tonnes, for a resource that is now 172 million tonnes at 9.9% manganese.
 
That's largely thanks to an 80% increase at the Sixty Sixer deposit to 109.4Mt at 10.1%, a 600% increase at Jay Eye to 21.9Mt at 9.5%, and a maiden resource for the Karen deposit of 40.9Mt at 9.5%.
 
It follows a 10,145m drilling campaign that commenced following the company's initial public offering in March 2021.
 
When considered with the nearby Hill 616 project, Firebird is now sitting on 229Mt of metal in the ground, which Firebird managing director Peter Allen said provided a compelling opportunity for the company to establish a long-life manganese operation.
 
A scoping study on what could be a 20-year-plus operation is about to commence, with results expected on its manganese ore study next quarter, and a manganese sulphate study due in the September quarter.
 
While manganese ore is primarily used in the steel sector, manganese sulphate is a key battery input.
 
The explorer had been thinking about a low-capital, rapid development DSO strategy, but has decided to switch focus to the longer-life option for a new WA manganese hub, situated just 85km from Newman.
 
Element 25's producing 263Mt at 10% manganese Butcherbird operation is in the immediate area.
 
Firebird has already commenced metallurgical work, including ore sorting and dense media beneficiation studies.
 
The company had some A$1.6 million cash remaining from its $5.5 million IPO at the start of the year.
 
Firebird is leveraging off the $4 million worth of work completed by its predecessor Brumby Resources last decade.
 
Firebird shares were up 15% this morning to 35c, valuing it at $17 million.
 
The stock has traded at 27.5-84c since listing. 

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