The S&P/ASX 200 Materials Index (ASX: XMJ) fell 1.17% today, but three ASX mining shares charged higher.
The Winsome Resources Ltd (ASX: WR1), Victory Goldfields Ltd (ASX: 1VG), and Burley Minerals Ltd (ASX: BUR) share prices all lifted today.
So why did these ASX mining shares have such a good day? Let’s take a look.
Burley Minerals
Burley Minerals shares soared 67% in early trade today to 40 cents before retreating. The company’s share price closed 33% ahead at 32 cents.
Burley shares exploded on lithium acquisition news. The ASX mining share has entered an exclusive agreement to acquire the Chubb Lithium project in Quebec, Canada and the Mt James and Dragon Projects in Western Australia.
Burley managing director Wayne Richards said:
The strategic and geographic location of all three potential projects are located in world class mining provinces and in Tier 1 jurisdictions of Australia and Canada.
Victory Goldfields
The Victory Goldfields share price soared 28% today, ending the day at 28 cents.
Investors bought up Victory shares on rare earth news. Positive magnetic and gravity survey data provide grounds for a diamond drilling program at the companyâs alkaline intrusion prospect.
Alkaline intrusions are seen as “engine rooms for rare earth elements and critical metals”, the company highlighted.
Angled drill holes are planned to “assess the extent of country rock alteration adjacent to the intrusion”. Victory has appointed Orlando Drilling to perform the diamond drilling program.
Winsome Resources
Winsome Resources shares rocketed 33% to $1.17 apiece.
The ASX mining share did not release any news to the market today. However, Winsome shares have soared 234% in a month. They have surged 216% since market close on 27 October alone.
On 28 October, the company’s share price skyrocketed after it found significant pegmatite intercepts at the Adina and Cancet lithium projects in Canada.
On Tuesday this week, Winsome advised it would raise $6.8 million to advance the Cancet and Adina lithium projects.
The post 3 ASX mining shares that soared more than 20% today appeared first on The Motley Fool Australia.
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More reading
- Why has ASX lithium share Winsome Resources rocketed 220% in a month?
- Guess which ASX lithium share exploded 67% today
- 3 ASX mining shares that surged over 20% Tuesday
- Guess which ASX gold share just exploded 70% on a new rare earths find
- Up 140% in a month, why has ASX lithium share Winsome Resources just been halted?
Motley Fool contributor Monica O’Shea 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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