3 ASX mining shares booming on big news

What's driving the interest in these mining shares?

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Key points

  • These ASX mining shares are soaring ahead today 
  • This includes a gold explorer, copper miner and a lithium company 
  • The materials sector is up 0.38% today 

These three ASX mining shares are charging ahead on the market today, with one company up 56%.

The Solis Minerals Ltd (ASX: SLM), Iceni Gold Ltd (ASX: ICL) and Carnaby Resources Ltd (ASX: CNB) share prices are storming ahead.

For perspective, the S&P/ASX 200 Materials Index (ASX: XMJ) is rising 0.38% at the time of writing.

Let's take a look at these ASX mining shares in more detail

Solis Minerals

Solis Minerals shares are soaring 30% today. Investors appear to be buying up Solis shares after the company received "firm commitments" for an $8.155 million capital raise.

Sophisticated and professional investors, along with North American institutional funds, will receive Solis shares at 55 cents per share. This was a 6.78% discount on yesterday's closing price of 59 cents per share.

Latin Resources, a major shareholder, has lifted its investment in the company to a 17.79% stake.

Commenting on the news, executive director Matt Boyes said:

I want to welcome new shareholders and thank our existing ones, particularly Latin
Resources, for their continued support and validation of our lithium strategy and investment in
an emerging lithium district in Brazil.

Solis shares have rocketed ahead 670% in the last year.

Iceni Gold

Iceni Gold shares are soaring 56% at the time of writing. This company is exploring gold in Western Australia. Today, the company advised it has discovered "spectacular high-grade vein" at the 'Christmas Gift' target at Everleigh Well.

Assay results included 18,207 grams per tonne (g/t) of gold, 18,179 g/t, 16,776 g/t, 16,659 g/t and 14,780 g/t.

Commenting on the news, technical director David Nixon said:

Assay results from the discovery of the second outcropping quartz vein with visible gold in the Everleigh target area are exciting, as they back up the initial field observations that reported visible gold in outcrop.

Iceni shares have fallen 23% in the past 52 weeks.

Carnaby Resources

Carnaby shares are lifting nearly 14% today amid gold exploration results. The company is exploring the Greater Duchess Copper Gold Project in Mount Isa, Queensland.

Today, Carnaby reported "exceptional new assay results" and pXRF readings at the mount hope central prospect within the project.

This included pXRF readings such as 40 metres at 4.2% copper, 72 metres at 2.2% copper and 11 metres at 5.7% copper as well as 0.9 grams per tonne of gold.

Commenting on the news, managing director Rob Watkins said:

Some of the most spectacular copper gold mineralisation yet seen at the Greater Duchess Project has just been intersected at the Chalcus Lode and the newly named Boomerang Lode at Mount Hope Central.

This is an outstanding discovery which is rapidly growing with every new hole drilled.

Carnaby shares have returned nearly 42% in the last year.

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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