An ASX rare earths share that is also looking for lithium has exploded more than 200% in a month.
The Voltaic Strategic Resources Ltd (ASX: VSR) share price has soared 238% since market close on 18 April from 2.1 to 7.1 cents.
Today, Voltaic shares are jumping 12.7%. In contrast, the S&P/ASX 200 Materials Index (ASX: XMJ) is sliding 0.22%.
Let’s take a look at this ASX rare earths share in more detail.
What’s going on?
Voltaic is exploring battery and precious metal projects in Western Australia and Nevada, United States. This includes rare earth elements (REE), lithium, gold and Nickel-Copper-Platinum Group Elements.
Investors appear to have been buying up shares in this ASX rare earths share amid exploration results in the past month.
Voltaic advised the market last week of a “significant rare earths” system at the Neo prospect within the Paddys Well project in WA.
This included grades of up to 10,072 ppm total rare earth elements (TREO) including mineralised REE intercepts up to 78 metres from surface.
Commenting on this news, Voltaic CEO Michael Walshe said:
The results provide unequivocal evidence for the presence of a large REE clay system at Neo,
with individual metre values up to 1% TREO, high tenor âmagnet REEâ percentages up to 30%, and
very large, mineralised intercepts up to 78m in width.We are now eagerly awaiting the results of the metallurgical testing on the clays to determine their preliminary economic viability.
Meanwhile, on 3 May, the company advised it had started drilling at the Andrada Prospect within the Ti Tree Lithium Project in Western Australia.
The company said this is an “emerging critical minerals” hotspot.
On 17 May, Voltaic said “multiple thick pegmatites” had been intersected at this project. Phase one drilling at the site is now complete with assay results expected within the next several weeks.
Voltaic relisted on the ASX on 5 October following a $4.55 million capital raise.
Voltaic share price snapshot
The Voltaic share price has risen 202% in the year to date and 31% in the last week alone.
This ASX rare earths share has a market cap of about $26 million based on the latest share price.
The post Guess which ASX rare earths share has rocketed 238% in a month. Hint: not Lynas appeared first on The Motley Fool Australia.
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More reading
- 3 ASX resources shares exploding over 65% on Tuesday
- Guess which ASX mining stock is booming 126% on a new lithium discovery
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