Guess which ASX gold share just soared 100% on a ‘bonanza-grade’ discovery

An ASX gold share is exploding today on the back of exploration news.

The Besra Gold Inc (ASX: BEZ) share price is surging 110% today. For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) is climbing nearly 1% today.

So what did this ASX gold share report today that has investors excited?

High-grade gold intercepts

The Besra Gold share price is soaring after the company reported “bonanza” grade gold intercepts at the Bekajang project in Malaysia.

Results included more than 47 metres of mineralisation at BKDDH-27 and more than 22 metres of mineralisation at BKDDH-23.

This included 10 metres at 7.09 grams per tonne (g/t) of gold from 8 to 18m at BKDDH-27 and 9m at 17.71 g/t gold from 19 to 28m at BKDDH-23.

The “exceptional” high-grade gold intercepts show potentially a “very significant understorey of mineral endowment”, according to Besra Gold.

A further round of drilling will start shortly to follow up on these results.

Commenting on the news driving this ASX gold share today, CEO Dr Ray Shaw said:

The results of the BKDDH drilling program highlight just how little understood are the controls on mineral endowment within what is the most mature sector of the Bau Gold Field corridor that includes two very significant historical mines, Tai Parit and BYG.

The potential implications of the exceptional grades intercepted during our recent drilling, demand priority follow-up, and may lead to a fundamental revision and upgrade of Bekajang’s potential

Besra Gold share price snapshot

The Besra Gold share price descended nearly 21% in the year to date, but it has soared 66% in the last month.

For perspective, the ASX 200 has fallen nearly 3% in the last year.

This ASX gold share has a market capitalisation of more than $20 million based on the current share price.

The post Guess which ASX gold share just soared 100% on a ‘bonanza-grade’ discovery appeared first on The Motley Fool Australia.

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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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