Guess which ASX lithium share is rocketing 57% today

ASX lithium shares are getting plenty of investor attention this year.

And for good reason.

Lithium miners, be they explorers or producers, have been major beneficiaries of soaring demand for the battery critical metal amid booming global EV growth. That strong demand has sent lithium prices to all-time highs, with the Australian government forecasting further price gains for lithium into 2023.

With that said, can you guess which ASX lithium share is soaring 57% today?

If you answered Winsome Resources Ltd (ASX: WR1), go to the front of the class.

With that huge intraday boost factored in, the Winsome Resources share price is now up a whopping 123% since the closing bell last Thursday.

Why is the Winsome Resources share price surging?

The ASX lithium share began its charge higher on Friday.

That followed on the release of positive drilling results at its Adina and Cancet lithium projects, located in Canada, reporting significant pegmatite intercepts.

Winsome Resources managing director, Chris Evans said the strong results will see the miner expand its exploration program:

These early intercepts, some of which appear to be significant pegmatite intervals, continue the positive stories developing at both Cancet and Adina.

The early success in intersecting these significant pegmatites at Adina has led us to add more holes to the drill program, taking the total expected drilling well over 5,000 metres.

The ASX lithium share looks to be catching another big leg up from an update with some additional data on those drill holes, released after market close yesterday.

Winsome Resources also released a non-price-sensitive investor presentation this morning, which could be further stoking ASX investor interest.

How has this ASX lithium share been performing longer-term?

We always like to take a step back and see how a stock has been performing over the longer term. But this ASX lithium share is a relative newcomer, having listed on 30 November 2021.

Since listing, the Winsome Resources share price is up 213%. By comparison, the All Ordinaries Index (ASX: XAO) is down 5% over that same period.

The post Guess which ASX lithium share is rocketing 57% today appeared first on The Motley Fool Australia.

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• 3 ASX resources shares leaping over 15% today
• Why did this ASX mining share just rocket 40% before being halted?

Motley Fool contributor Bernd Struben 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.

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