It's a better day for the S&P/ASX 200 Index (ASX: XJO) so far on Wednesday with the benchmark index up 0.58% at the time of writing. But that's nothing compared to some ASX mining shares that are recording impressive gains today.
This is amid the S&P/ASX 300 Metals and Mining Index (ASX: XMM) gaining 1.27% in late afternoon trade. A similar benchmark, the S&P/ASX 200 Materials Index (ASX: XMJ), is also up 1.09%.
Let's see which ASX mining shares are have a cracking day today.
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Arcadia Minerals Ltd (ASX: AM7)
The Arcadia Minerals share price is up a massive 102.56% at the time of writing, with shares of the battery metals explorer trading hands for 39.5 cents each. The company's share price hit an intraday high of 48 cents this morning, representing a 146% gain.
The big news for the company today is the announcement it has discovered 85.2 million tonnes of extra lithium reserves at its Bittwasser site in Namibia this morning. This represents a 560% increase from its earlier numbers. The company also announced that 59.6 million tonnes of lithium carbonate could be produced from these additional reserves, up 430% from previous estimates.
Nimy Resources Ltd (ASX: NIM)
The Nimy Resources share price is up 18.52% in late afternoon trade. Shares in the nickel exploration company are fetching for 32 cents apiece after closing at 27 cents each yesterday.
There's no news today to support the Nimy Resources share price surge. In fact, the last significant announcement the company made was in June when it released its quarterly activities report. This was mostly centred around its diamond drilling activities. Curiously, nickel is currently down 0.69% today, according to Markets Insider.
Noronex Limited (ASX: NRX)
The Noronex Limited share price is up 21.05% right now to 6.9 cents a share. Earlier today, the copper company's shares hit an intraday high of 7.9 cents apiece, representing a 39% jump.
Noronex addressed the reason why its shares are gaining today through a response to a price and volume query initiated by ASX's listings compliance department. The price action of Noronex shares comes amid news about other ASX-listed companies mining in the Kalahari copper belt, where Noronex controls 5,600 square kilometers. The belt stretches from Namibia into Northern Botswana.
In the letter addressed to the ASX, Noronex said Cobre Ltd (ASX: CBE) reported it had discovered significant copper mineralisation in the Kalahari copper belt. Another update by Sandfire Resources Ltd (ASX: SFR) was cited as a potential contributor to the surge in the Noronex share price as it prepares to commence copper mining in its Motheo Botswana site in FY23.
