Thor Mining PLC (LON:THR) was on the ascent on Wednesday as it reported visible gold samples had been discovered at its Pilbara Goldfield tenements in Western Australia.
The AIM-listed firm said visible gold had been found in 13 of 44 sediment trap sites at the project, a result it said was “very encouraging” ahead of laboratory assay work.
WATCH: Thor Mining 'powering ahead at Kapunda' as it talks to investors to advance key tungsten projects
Following work in the lab, the company said follow-up field work may comprise more detailed sediment sampling as well as soil samples and geological mapping.
"These preliminary results are very exciting, and we look forward to confirmatory laboratory assays. To obtain results of this calibre in an initial reconnaissance survey is an excellent result", said Thor’s executive chairman, Mick Billing.
The news sent Thor’s shares up 12% to 0.3p in early trading.