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The company revealed high-grade intercepts, including 44m at 5.37g/t gold from 99m, about 40m below the base of the previously planned openpit at the Kunche deposit.
Its shares were up more than 56% in afternoon trade at 3.6c.
Meanwhile, the gold price continues to hover around the US$1,313 per ounce mark and in the US, gold major Newmont Mining (NYSE:NEM) managed a slight gain yesterday of 0.55%.
London, which was closed yesterday for a bank holiday, was poised to open lower as markets await US president Donald Trump's decision on the Iran nuclear deal later today.
Finally, Toronto's diversifieds performed best yesterday out of the metals and mining sector on the S&P/TSX Composite Index, up 1.05% thanks mainly to Ivanhoe Mines' (TSX:IVN) gain of 5.9%.
The company has announced plans to use treated wastewater for its Platreef project under development in South Africa.
