Overview
Firetail Assets (ASX:FTL) is an Australian exploration firm constructing a strategic portfolio of battery metals in Australia and Peru.
Batteries are a essential basis of the transition to a greener and extra sustainable future. Consequently, between electrical autos and renewable vitality, international demand for batteries is predicted to extend from 185 GWh in 2020 to over 2,000 GWh by 2030. That is anticipated to have a profound impression available on the market for battery and base metals equivalent to lithium, nickel, cobalt and copper.
Firetail Assets goals to leverage this important alternative to search out the essential assets to help the world’s journey to electrification. Beneath the course of a confirmed board and administration workforce with many years of collective expertise in mining exploration, improvement and manufacturing, Firetail Assets boasts a diversified asset portfolio with a number of drill-ready targets and superior exploration tasks that every one have large potential to extend shareholder worth.
Firetail’s Australian Yalgoo-Dalgaranga, Mt. Slopeaway and Paterson tasks are all situated in confirmed geologic domains and show important upside for substantial mineral assets. The corporate’s newer acquisition of two tasks in Peru strongly enhances these property.
Because the world’s third-largest copper producer, Peru has a large mining business with a robust prominence within the nation’s nationwide economic system. Lengthy acknowledged as a superb, low-risk mining jurisdiction, the nation not too long ago approved roughly $600 million worth of new mining projects. Unsurprisingly, almost each main international mining firm is both working within the jurisdiction or is conscious of it.
Though solely not too long ago acquired, Firetail’s Picha Copper challenge is now one among its most promising property. The Picha Venture was acquired as a part of a deal that features a farm-in settlement with Barrick Gold Company (TSE:ABX) for an earn-in of as much as 70 p.c curiosity within the Charaque Venture.
Picha is situated alongside a NNW regional development of carbonate-replacement (CRD) and epithermal deposits, together with the San Gabriel Gold Venture (Buenaventura NYSE:BVN), which is totally permitted and in development; and the Berenguela Ag, Cu, Mn, Zn Deposit (Aftermath Silver TSXV:AAG).
In 2024, Firetail Assets introduced the acquisition of York Harbour copper challenge, Canada. The corporate has signed a binding possibility settlement to accumulate as much as 80 p.c of York Harbour challenge through a staged earn-in. York Harbour is a Cyprus-style volcanogenic huge sulphide (VMS) exploration challenge, situated 180 km west-south-west of FireFly Metals Ltd (ASX:FFM) Inexperienced Bay copper challenge.
With a diversified portfolio of battery and base metals property in two main mining jurisdictions, Firetail is completely positioned to benefit from the transition to inexperienced vitality, driving appreciable shareholder worth within the course of.
Picha (Copper)
Positioned in Southern Peru’s Moquegua and Puno departments, Picha represents Firetail’s most up-to-date acquisition. Supposed as a complement to the corporate’s portfolio of battery metals property, the extremely potential 200-square-kilometre copper challenge hosts a number of drill-ready targets which Firetail plans to check within the coming months. Picha was obtained as a part of a deal that included a farm-in settlement with Barrick Gold Company for the Charaque Venture situated 30 kilometres to the northeast.
Firetail not too long ago confirmed its official drill allow for Picha and web site preparations are underway for a October drilling marketing campaign.
Venture Highlights
- Promising Geology: Picha is situated inside Peru’s Epithermal Au-Ag-Cu-Pb-Zn metallogenic zone alongside a north-northwest regional development of carbonate-replacement and epithermal deposits.
- Close by Tasks: Picha is located roughly 17 kilometres east-northeast of Compania de Minas Buenaventura’s San Gabriel gold-copper-silver challenge, which hosts:
- Reserves of 14.9 Mt with 4.04 grams per ton (g/t) gold and 6.43 g/t silver representing 1.94 Moz gold.
- Assets of 24.86 Mt with 2.10 g/t gold and eight.46 g/t silver.
- A number of Mineralisation: The challenge is potential for a number of kinds of copper mineralisation, together with epithermal, stratabound, polymetallic carbonate alternative and porphyry-style. It additionally hosts a number of untested and geologically important geochemical and geophysical anomalies, displaying comparable mineralisation to the Storm/Seal copper challenge on Somerset Island.
- Important Exploration Potential: Firetail has identified 13 exploration targets by a mix of geological mapping, floor sampling and geophysical surveys. Up to now, the corporate has collected 651 rock/chip samples and 289 soil samples and carried out 118 line-kilometre IPs and 240 line-kilometre magnetic surveys. Highlights of its exploration work embody:
- Widespread floor copper mineralisation coincident with IP anomalies.
- Channel Pattern Outcomes
- Cobremani: 41.6 metres at 1.12 p.c copper and 22.85 g/t gold.
- Maricate: 17.6 metres at 1.95 p.c copper and 29.58 g/t gold.
- Cumbre Coya: 32.85 metres at 0.61 p.c copper and 209.76 g/t gold.
- Fundicion Goal: Identification of a big chargeability anomaly reflecting potential sulphide mineralisation and/or alteration at depth indicative of a big porphyry physique. This anomaly is roughly 2 kilometres lengthy and a couple of kilometres throughout at its widest level.
- Further Drill Targets: Firetail’s second IP survey revealed further anomalies, together with:
- Ichucollo: Semi-contiguous 2.5-kilometre lengthy IP anomaly with coincident floor mineralisation and pattern outcomes of 24 metres at 1.08 p.c copper, 13 metres at 1.38 p.c copper and 30 metres at 0.79 p.c copper. Manto-type mineralisation on the goal’s southern finish additionally averages 1.45 p.c copper over 18 metres.
- Huancune: A 1.5-kilometre lengthy anomaly coincident with floor mineralisation. A number of channel samples starting from lower than 0.5 p.c copper as much as 3.95 p.c copper.
Charaque (Copper)
The Charaque Copper Venture is situated roughly 30 kilometres northeast of Firetail’s Picha challenge, consisting of eight claims protecting roughly 60 sq. kilometres. The area across the challenge is an energetic exploration space the place a number of main mining firms keep important landholdings, together with Barrick Gold, Teck Assets (TSE:TECK.B) and Fresnillo (LON:FRES).
Charaque was acquired through a farm-in settlement between Firetail and Barrick Gold which entitles the latter to earn as much as a 70 p.c curiosity within the challenge.
Yalgoo & Dalgaranga (Lithium)
Firetail’s Yalgoo and Dalgaranga lithium tasks collectively span greater than 1,750 sq. kilometres in Western Australia’s extremely potential Murchison area. Positioned near Geraldton Port and with quick access to all essential infrastructure, the 2 tasks host identified lithium-caesium-tantalum (LCT) pegmatites with a robust rubidium affiliation. Firetail not too long ago accomplished a small maiden drilling program within the Johnson Properly space of Yalgoo, itself the location of a historic lepidolite mine.
Rock chip sampling of surrounding areas is ongoing together with an in depth evaluation of lithium prospectivity. Outcomes and a challenge replace are anticipated inside 4 to 6 weeks.
Venture Highlights
- Yalgoo Exploration Outcomes: Up to now, exploration at Yalgoo has returned extremely promising outcomes, together with:
- A 25-kilometre “Goldilocks Zone” at Yalgoo confirmed to host LCT pegmatites with historic outcomes of as much as 3.75 p.c lithium oxide.
- Rock chip assay outcomes of as much as 0.54 p.c lithium oxide and below 1 p.c rubidium.
- Excessive-grade rubidium, together with 10 metres at 0.44 p.c rubidium from 10 metres.
- Dalgaranga Exploration Outcomes: Firetail has accomplished detailed geological mapping within the challenge’s north, returning anomalous lithium, rubidium, caesium and tantalum values indicative of LCT pegmatites. The corporate plans to undertake additional mapping within the space.
- Dalgaranga’s Robust Prospectivity: Dalgaranga counts a number of superior essential minerals tasks amongst its neighbours which collectively verify its prospectivity:
- King Tamba (ASX:KTA): Maiden mineral useful resource estimate (MRE) of 5 Mt at 0.14 p.c rubidium oxide with a lithium oxide credit score. Open mineralisation in all instructions with a deliberate infill drill program to increase MRE.
- Aldoro Assets Restricted (ASX:ARN): Aldoro’s Niobe Tantalum-Lithium challenge has delivered a maiden inferred JORC MRE of 4.6 Mt at 0.17 p.c rubidium oxide and 0.07 p.c lithium oxide. Potential to improve is current due to mineralisation at shallow depth.
- Farm-in Settlement on Southern Yalgoo Tenement: Completion of the farm-in settlement accomplished with SensOre (ASX:S3N), by its joint-venture subisidiary Exploration Ventures AI Pty (EXAI) in partnership with German useful resource funding group Deutsche Rohstoff AG, on tenement E59/E2252, part of the Firetail Yalgoo Lithium Venture. As per the settlement, EXAI is to earn as much as 80 p.c of lithium rights on E59/E2252 by spending $3.5 million in two phases. Further issues of as much as $600,000 shall be fulfilled upon the supply of maiden mineral useful resource estimate (MRE) and pre-feasibility examine (PFS). SensOre will additional present Firetail entry to its proprietary AI know-how throughout the Yalgoo and Dalgaranga Lithium Tasks. The 2 firms will work carefully collectively to establish and ensure Lithium exploration targets within the area.
Mt. Slopeaway (Nickel)
Located in Central Queensland, Firetail’s Mt. Slopeaway Nickel Venture comprises an present JORC 2012-compliant inferred mineral useful resource of 4 MT at 1 p.c nickel, 0.2 p.c cobalt and 1 p.c manganese. Having not too long ago been awarded challenge standing, Firetail plans to conduct environmental and heritage surveys. Planning of an onsite drilling program can be underway.
Venture Highlights
- Present Progress: Along with drilling, heritage and environmental surveys, highlights of Firetail’s work at Mt. Slopeaway embody:
- Improvement of a geological mannequin indicative of a manganese-cobalt-nickel layer on the base of a limonite part.
- Finalisation of a challenge land entry settlement and completion of web site earthworks.
- Section 1 reverse circulation (RC) drilling with results exceeding historic nickel and cobalt assay knowledge.
- A deliberate Section 2 RC and diamond drilling program to improve the challenge’s present useful resource classification.
- Extensional drilling to probably increase the challenge’s present inferred useful resource.
- Drilling Outcomes: A drilling program accomplished in This fall 2022 returned as much as 51 metres of thick laterite nickel-cobalt mineralisation.
Paterson (Copper)
Firetail’s Paterson Copper Venture spans 5 tenements throughout roughly 1,000 sq. kilometres in Western Australia. Heritage agreements for the challenge are in place and desktop research are at the moment progressing, with a number of potential goal areas recognized for drilling.
Venture Highlights
- Shallow Intercepts: Paterson shows the shallowest identified historic gold/copper intercepts within the area, with as much as 6.5 p.c copper, 0.99 g/t gold and copper, 0.99 g/t gold and 1,330 elements per million (ppm) molybdenum throughout an roughly 50-metre large magnetite alteration zone.
- Drilling Targets: Paterson has recognized the next potential targets for drilling at Paterson:
- 87WDRC2: 17 metres at 1.6 p.c copper and 317 ppm molybdenum together with 9 metres at 2.6 p.c copper and 456 ppm molybdenum from 84 metres.
- 87WDRC6: 9 metres at 2 p.c copper and 272 ppm molybdenum together with 5 metres at 3.1 p.c copper and 430 ppm molybdenum from 84 metres.
- 87WDRC8: 11 metres at 1.5 p.c copper and 181 ppm molybdenum together with 7 metres at 2.1 p.c copper and 250 ppm molybdenum from 83 metres.
- 87WDRC14: 13 metres at 1.1 p.c copper together with 6 metres at 2 p.c copper from 107 metres.
Administration Workforce
Brett Grosvenor — Government Chair
Brett Grosvenor is a seasoned govt with over 25 years of expertise within the mining and energy business. He holds a twin tertiary qualification in engineering and a Grasp in Enterprise. Previous to his present place, Grosvenor was the director of improvement at Primero Group, targeted on the event of tasks from an preliminary idea by to contract supply and operation.
Grosvenor is at the moment a director of ASX-listed Perpetual Assets and Firebird Metals. He’s a member of the challenge steering group for Patriot Battery Metals and likewise the Australian Trade Session Group for Battery and Essential Minerals.
Simon Lawson — Non-executive Director
Simon Lawson is knowledgeable geoscientist with greater than 16 years operational expertise spanning a number of commodities and jurisdictions, and was a founding member of Northern Star Assets (ASX:NST).
He holds a Grasp of Science in geology from Auckland College and has greater than 15 years of exploration, manufacturing and administration expertise in gold and base metals. He’s at the moment the managing director of Spartan Assets (ASX:SPR) previously Gascoyne Assets (ASX:GCY).
Cai Kecheng — Non-executive Director
Cai Kecheng is a consultant of Hong Kong Jayson Mining Co. (Jayson), a considerable shareholder of Firetail. Kecheng has over eighteen years of expertise in monetary funding and company technique. He’s at the moment the affiliate president and head of funding & technique for Jayson. Previous to that, he served as managing director at plenty of personal fairness companies in Shanghai
George Bauk — Non-executive Director
George Bauk is an skilled director with over 17 years as a listed firm director and 30 years throughout the assets business together with international operational and company roles.
He has expertise managing every part from exploration to manufacturing in Australia and internationally, with experience throughout a wide range of commodities together with uncommon earths, lithium, graphite, gold, uranium and copper. Throughout his time as managing director of Northern Minerals, he led his workforce from a greenfields heavy uncommon earth explorer to one of many few international producers of high-value dysprosium outdoors of China.
Alongside his place as director at Firetail, he’s additionally an govt chairman of ASX-listed Valor Assets (ASX:VAL) and Lithium Australia (ASX:LIT), in addition to an govt director of PVW Assets (ASX:PVW).
Robin Wilson — Technical Director
Robin Wilson has held senior exploration positions in a number of exploration and mining firms, together with Valor Assets, Polaris Metals, Tanganyika Gold, Troy Assets, CRA Exploration and Northern Minerals. He has additionally spent 5 years working in oil and gasoline exploration for Woodside Vitality.
Throughout almost 30 years of involvement in mineral exploration, Wilson has labored on gold, nickel, REE, uranium, copper, lithium and phosphate tasks all through Australia, Africa, South America and North America and was concerned within the preliminary discovery and outlining of a number of gold deposits in Australia. Between 2006 and 2021 he led the Northern Minerals exploration workforce that found the Browns Vary REE deposits which have superior by improvement to manufacturing of HRE carbonate.
Frank Bierlein — Technical Guide
Dr. Frank Bierlein is a geologist with 30 years of expertise as a marketing consultant, researcher, lecturer and business skilled. He served on the Firetail board of administrators from the time of its itemizing on ASX in April 2022 till July 2023. He stays a technical marketing consultant to Firetail, specifically for ongoing technical work on the Mt Slopeaway Venture.
Bierlein has held exploration and generative geology administration positions with QMSD Mining, Qatar Mining, Afmeco Australia and Areva NC and consulted for, amongst others, Newmont Gold, Resolute Mining, Goldfields Worldwide, Freeport McMoRan and the Worldwide Atomic Vitality Company.
He’s at the moment a Non-executive director of Blackstone Minerals, Impression Minerals and Variscan Mines.
Leon Bagas — Senior Exploration Geologist
Leon Bagas is an exploration geologist with forty years of business expertise. He has held senior exploration roles with a number of Australian firms and senior analysis positions for the College of Western Australia.
Bagas is very skilled in creating mineralisation fashions utilizing geochemistry and geochronology. Mixed along with his proficiency within the discipline, this makes Bagas a superb candidate to help within the improvement of the exploration and drilling packages at Firetail’s Paterson Orogen and Yalgoon-Dalgaranga challenge areas.
Phillip Mackenzie — Senior Exploration Geologist
Phillip Mackenzie has labored in Central Queensland over a number of many years, exploring the Marlborough and Yeppoon terrain to evaluate and probe for nickel, cobalt, chromite, magnesite and gold associated to the Princhester Serpentinite. His work included administration of tasks and groups to carry out actions starting from regional sampling to useful resource drilling. Because of his work, a number of hundred drill holes focusing on lateritic nickel and cobalt had been assessed and an indicated useful resource decided for a mining lease.