Firetail Resources

BRETT GROSVENOR

EXECUTIVE CHAIR

(ASX:FTL)

◾ Company Name: Firetail Resources ◾ Company ASX code: FTL ◾ Key commodities: Lithium, nickel, copper ◾ Key Personnel: Brett Grosvenor, Executive Chair | Simon Lawson, Non-Executive Director | Steve Brockhurst, Non-Executive Director ◾ Locations: Western Australia; Queensland ◾ Market Cap as of 15/07/22: $15.40M ◾ Share price range over 12 months as of 15/07/22: $0.410 - $0.200 ◾ Company Website: firetailresources.com.au

COMPANY PROFILE

Firetail is one of Australia’s newest battery metal plays having only made its debut on the ASX a little more than two months ago after raising the full entitlement of $8.125m it was seeking.

The company, which was spun-off from Firefly Resources prior to its merger with Gascoyne Resources, has interests in the Paterson copper-gold project, the M59/358 mining lease (excluding gold rights) and the lithium rights to certain tenements of the Yalgoo gold project.

Additionally, the company holds the lithium rights to certain tenements in the Dalgaranga gold project in Western Australia, and the Mt Slopeaway nickel-cobalt-manganese project in Queensland.

Top of the list are the Paterson and Yalgoo projects, with the former being the recipient of recent data compilation and desktop studies that have revealed high priority areas prospective for copper, gold, molybdenum, lead, zinc, and lithium.

Paterson covers about 1,660km2 of ground containing existing copper-gold prospects – particularly the Wanderer copper-gold-molybdenum prospect – around the historical Kintyre mine.

Drilling by Firefly had returned results such as 17m at 1.6% copper and 317ppm molybdenum and 9m at 2% copper and 272ppm molybdenum.

Further highlighting the project’s potential is the geochemical assemblage showing signs of a porphyry intrusion as the source of mineralisation as well as the recent identification of battery metal potential within the central leases.

Firetail plans to continue advancing data compilation and desktop studies to define and rank exploration targets, review exploration techniques to assess priority targets, and assess environmental and Native Title considerations.

Over at the 1,850km2 Yalgoo project in the Murchison region, the company has all minerals except gold at M59/358, which contains a self-sufficient exploration camp, maintenance workshop and a small gold processing plant.

However, the tenement has never been historically explored for its lithium potential.

Firetail also has the lithium rights over several other tenements in the project, where sampling by MacArthur Minerals in 2016 returned results such as 3.75% lithium oxide and 2.41% rubidium oxide.

Adding further interest, Yalgoo surrounds Lepidico’s Johnson Well Mine which is host to lithium, caesium and rubidium deposits and abuts Zenith Minerals’ joint venture exploration for lithium-caesium-tantalum pegmatites with EV Minerals.

Over at the Dalgaranga project, the company holds the lithium rights on three tenements covering 121km2 in the north and western areas of the Dalgaranga Greenstone Belt within the Murchison region.

Two of the tenements surround the historical Dalgaranga tantalum mine, which is known to host pegmatites.

The project also adjoins the Niobe lithium-rubidium project where Aldoro Resources most of a recent 65 hole reverse circulation drill program intersected pegmatites.

For the 188km2 Mt Slopeaway project, Firetail plans to undertake a Scoping Study to evaluate a simple, low-cost mining operation to produce nickel, cobalt and manganese.

The project is located 100km north-northeast of Rockhampton and straddles the Bruce Highway and North Coast railway.

It was first discovered by BHP in the 1960s and hosts mineralised zones extending from outcrop to the shallow depths that average less than 25m.

Firetail’s leadership team has assembled to maximise the company’s chances of delivering on its objectives at each of its holdings, with close to a century of combined experience in mining, exploration and navigating the complexities of the corporate world.

KEY INVESTMENT HIGHLIGHTS

MAY 24, 2022: Data compilation and desktop studies reveal high priority areas prospective for copper, gold, molybdenum, lead, zinc and lithium at the Paterson project. APRIL 13, 2022: Firetail lists on the ASX with a suite of battery metal projects in Queensland and Western Australia after raising $8.125m.