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Description
The growing demand for high-purity manganese sulphate monohydrate (HPMSM) used in lithium manganese iron phosphate (LMFP) batteries positions Firebird Metals (ASX:FRB) to become significant player in the manganese market for LMFP batteries and EV manufacturers, according to an analyst report published by Terra Studio.
“Compared to its peers, Firebird Metals and its Hunan high-purity manganese sulphate monohydrate project accumulate a number of enviable characteristics: lowest capital expenditure; lowest capital intensity; life of project not limited by a mineral resource; lowest operating cost; highest profitability index (NPV/capex) with the lowest HPMSM price assumption; best expertise in lithium-ion batteries and in particular LFP and
LMFP batteries; and largest market at its doorstep,” stated the report prepared by JF Bertincourt, director of Terra Studio.
Firebird Metals is focused on developing its Oakover high-purity manganese project in Western Australia and integrating a downstream processing facility in China to produce battery-grade HPMSM for the LMFP battery market.
Hunan Chemical Engineering Design Institute (PFS engineering group) and Hunan Firebird Battery Technology staff
“Firebird Metals is extremely well positioned to take advantage of the booming market for LMFP batteries,” Bertincourt wrote, citing the significant market outlook for LMFP batteries, which is expected to replace 50 percent of lithium-ion phosphate batteries (LFP) by 2030.
Highlights of the report:
- Firebird Metals is extremely well positioned to take advantage of the booming market for LMFP batteries, given its strategy to develop a processing facility in China, which will be fed by concentrate from its Oakover project
- If successful, Firebird is poised to become a significant player in the manganese market for LMFP batteries and EVs, and also become a supplier for the silica-manganese alloy market.
- LMFP is expected to dominate the cathode market for EV batteries, due to the manganese’s ability to make LFP batteries safer, cheaper and have more range.
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FRB:AU
Drilling Commenced at Viani in Fiji
HIGHLIGHTS
- The Phase 1, three-hole diamond drilling program has commenced at the Viani Project, Fiji and will test for extensions to the quartz vein gold mineralisation at depth.
- Phase 1 is expected to be completed in early 2025, with plans for additional drilling under the same program dependent on the initial results
- The Viani Project (SPL1513) covers an area of approximately 200km2 and is largely underexplored.
- At the Dakuniba prospect within Viani, low sulphidation epithermal high-grade gold mineralisation has been mapped over >3km strike length.
- Diamond drilling completed by Japan International Cooperation Agency (JICA) in 1995 to 1997 intersected high-grade gold in low sulphidation epithermal quartz veins, including 0.6m @ 27.6 g/t Au.
Alice Queen’s Managing Director, Andrew Buxton said,
With drilling underway, Alice Queen is positioned to test the epithermal gold-style mineralisation identified in historic drilling at the Viani Project. Weather permitting, we anticipate completing the Phase 1, three-hole diamond drilling program in early 2025. Following this, our exploration team will mobilise the drill rig to the Sabeto Project in Fiji to maintain the momentum of this campaign. To deliver timely results to shareholders, we intend to accelerate the analysis of the drill core at ALS Brisbane.”
Image 1 – Diamond drilling at Viani
Details
Geology
The geology of the Viani Project (SPL 1513) comprises olivine basalts and volcaniclastics of the Natewa Volcanic Group which are intruded by andesite sills and dykes. In the 1940s, gold mineralisation was found by local prospectors near the village of Dakuniba. At Dakuniba, low sulphidation style epithermal gold occurs in quartz veins, and silicified rocks along a 3km long NE trending zone.
In 1995-1997, Japan International Cooperation Agency (JICA) drilled six diamond holes at Dakuniba and intersected high-grade gold in chalcedonic, crustiform, colloform banded quartz veins at depths of 50m to 100m below surface (i.e. MJVFV-5 intersected 2.2m @ 11.3 g/t Au, incl 0.6m @ 27.6 g/t Au at 121m downhole). This high-grade gold mineralisation is open in all directions.
Proposed Drill program
The initial Phase 1 drill program at Viani (see Table 1) will comprise three diamond drillholes designed to test continuity to the epithermal gold mineralisation previously intersected in JICA drillhole MJVFV- 5 (2.2m @ 11.3 g/t Au) (see Figure 2). The drilling will test for extensions to the gold mineralisation at depth and along strike.
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