Insights

2 tiny ASX mining shares surging on new discoveries

It’s been a good day to own these ASX-listed small cap miners.
The post 2 tiny ASX mining shares surging on new discoveries appeared first on The Motley Fool Australia. –

It’s been a good day for these ASX small-cap mining stocks – they’ve each seen their share price rocket higher on exciting discoveries.

Let’s take a closer look at what they have uncovered and how they are performing on Thursday.

2 ASX mining shares lifting on exciting news

Far East Gold Ltd (ASX: FEG)

The Far East Gold share price is surging 14% higher to trade at 33 cents on Thursday.

The company’s gain follows news from its Woyla Copper Gold Project. Samples from the project have been tested and found to house gold associated with sulphides.

The gold was identified by petrographic studies, undertaken to better understand gold occurring within samples that assayed bonanza grade gold and silver.

The studies have also helped verify a previous petrographic study on the project’s Aloe Rek vein system.

Additionally, they confirmed high-grade gold and silver mineralisation associated with ginguro banded quartz is present within all of the defined Woyla vein systems.

Carnaby Resources Ltd (ASX: CNB)

Another tiny ASX mining share enjoying a day in the green following a new discovery is Carnaby Resources. Its stock has lifted 17% to trade at 82 cents on Thursday.

The company announced “very significant” geophysical anomalies identified at the Greater Duchess Copper Gold Project this morning.

Induced polarisation (IP) surveys have recorded large and strong IP chargeability anomalies in two previously undrilled areas of the project.

The company’s managing director, Rob Watkins commented on today’s news, saying:

The undrilled 3 kilometre corridor between [the project’s Nil Desperandum prospect] and [its Lady Fanny prospect] now has two excellent deposit scale drill targets following the identification of these highly significant IP anomalies.

Watkins also noted that IP identified the original high grade discovery hole at the project’s Nil Desperandum prospect. It showed similar anomalies as those announced today.

The post 2 tiny ASX mining shares surging on new discoveries appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.* Scott just revealed what he believes could be the “five best ASX stocks” for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now

See The 5 Stocks
*Returns as of January 12th 2022

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Why did the Liontown share price slump 9% today?
Why did the Mineral Resources share price tumble on Thursday?
‘Just didn’t cut it’: Look out Telstra, a new high-speed start-up is coming for you!
The Northern Star share price has lost 7% so far this week. What’s happening?
Down 70% in one year: Is the Magellan share price a turnaround buy?

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

  • This field is for validation purposes and should be left unchanged.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;

To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.

An active and funded account with a positive trading balance is required to continue to have access to the tools;

Although the tools are available to you, Monex Securities may at it’s discretion disable access to the tools in the future;

Monex Securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here To Get Started
FREE AAPL, TSLA, AMZN, PFE or MRO Share(s)
REGISTER TO BE ELIGIBLE FOR FREE SHARES
TRAVEL ACROSS THE FINANCIAL WORLD
Act Fast - Promotion Ends In
Click Here For More Info