Firering Strategic Minerals PLC (AIM:FRG) shares fell 12% in Thursday morning’s deals as the explorer gave its final batch of results from the Atex Lithium-Tantalum Project in Côte d'Ivoire, and detailed plans for next year.
The final batch of assay results from its maiden scout diamond drill programme at Atex showed positive results for lithium, the company said, including 25 metres at 1.39% Li2O from 77 metres in hole TVDD0018, including 18 metres at 1.85% Li2O from 80 metres.
The company's second phase of exploration is expected to begin in the first quarter of 2023, supported by Ricca Resources, following its US$18.6mln investment.
Plans include an immediate commencement of a large-scale soil sampling programme and the next phase of auger, reverse circulation (RC) and diamond drilling in the second half of 2023.
In London, Firering shares were 1.38p, or 12.09% lower, changing hands at 10p.