First Class Metals PLC on Wednesday announced that it had been awarded a grant from the Ontario Junior Exploration Programme.
In 2023 the Ontario, Canada-focused metals exploration company explored its Zigzag property in search of lithium and other critical metals, culminating in a successful drill programme.
The Zigzag lithium and critical metals property is based in north west Ontario.
It has now been awarded a grant worth up to C$200,000 to cover a maximum of 50% of the expenditure for work completed at the site.
FCM noted it has been successful in receiving the full grant in consecutive years and remains the first, and only, UK company to receive the grant which aims to provide ‘meaningful opportunities for junior companies to find mines’.
Shares in FCM closed down 2.9% to 3.30 pence in London on Wednesday.
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