The Winsome Resources Ltd (ASX: WR1), Victory Goldfields Ltd (ASX: 1VG), and Burley Minerals Ltd (ASX: BUR) share prices all lifted today.

So why did these ASX mining shares have such a good day? Let's take a look.

Burley Minerals

Burley Minerals shares soared 67% in early trade today to 40 cents before retreating. The company's share price closed 33% ahead at 32 cents.

Burley shares exploded on lithium acquisition news. The ASX mining share has entered an exclusive agreement to acquire the Chubb Lithium project in Quebec, Canada and the Mt James and Dragon Projects in Western Australia.

Burley managing director Wayne Richards said:

The strategic and geographic location of all three potential projects are located in world class mining provinces and in Tier 1 jurisdictions of Australia and Canada.

Victory Goldfields

The Victory Goldfields share price soared 28% today, ending the day at 28 cents.

Investors bought up Victory shares on rare earth news. Positive magnetic and gravity survey data provide grounds for a diamond drilling program at the company's alkaline intrusion prospect.

Alkaline intrusions are seen as "engine rooms for rare earth elements and critical metals", the company highlighted.

Angled drill holes are planned to "assess the extent of country rock alteration adjacent to the intrusion". Victory has appointed Orlando Drilling to perform the diamond drilling program.

Winsome Resources

Winsome Resources shares rocketed 33% to $1.17 apiece.

The ASX mining share did not release any news to the market today. However, Winsome shares have soared 234% in a month. They have surged 216% since market close on 27 October alone.

On 28 October, the company's share price skyrocketed after it found significant pegmatite intercepts at the Adina and Cancet lithium projects in Canada.

On Tuesday this week, Winsome advised it would raise $6.8 million to advance the Cancet and Adina lithium projects.

The post 3 ASX mining shares that soared more than 20% today appeared first on The Motley Fool Australia.

The Burley Minerals Ltd (ASX: BUR) share price is on the rise by 25% today to 30 cents. However, in earlier trade, Burley Minerals shares skyrocketed 67% to 40 cents.

So why is this ASX lithium share having such a top run today?

Acquisition news for lithium explorer

Investors are buying up Burley shares today on lithium acquisition news. Burley has entered an "exclusive agreement" to take ownership of 100% of the Chubb Lithium Project in Quebec, Canada.

Further, under the deal, Burley would also acquire the Mt James and Dragon Projects, prospective for lithium, in the Gascoyne region of Western Australia.

The project widens Burley's exploration pipeline to high-grade lithium-bearing spodumene projects.

Drilling at the Chubb Lithium project has shown the presence of spodumene-bearing lithium pegmatites.

Burley is also an iron ore explorer, with a 70% stake in the Yerecoin Project near Perth in Western Australia.

Commenting on today's news, Burley managing director Wayne Richards said:

We are very pleased to announce the signing of this Agreement to acquire such high-potential Lithium Projects in jurisdictions complemented by other major Lithium explorers and developers.

The strategic and geographic location of all three potential projects are located in world class mining provinces and in Tier 1 jurisdictions of Australia and Canada.

ASX lithium share Burley's share price snapshot

Burley Minerals has soared 27% in a year, while it has surged 46% in the year to date. In the past month, the company's share price has rocketed ahead 122%.

For perspective, the ASX 200 Materials Index has climbed 14% in a year.

This ASX lithium share has a market capitalisation of about $10.3 million based on the current share price.

The post Guess which ASX lithium share exploded 67% today appeared first on The Motley Fool Australia.

Earlier today, the iron ore and base metals explorer and developer's shares rocketed as much as 105% to a high of 41 cents.

The Burley Minerals share price eventually closed the day 87.5% higher than its listing price at 37.5 cents.

Why did the Burley Minerals share price rocket higher?

Investors were bidding its shares higher today following the completion of its initial public offering (IPO). They appear to see a lot of potential in the company's Yerecoin Project in Western Australia.

The Yerecoin Project comprises two exploration licenses that cover 105.5 km2 of land close to the exciting Julimar Project owned by Chalice Mining Ltd (ASX: CHN).

According to its prospectus, exploration activities to date have defined significant JORC-compliant magnetite resources within the project totalling 247 Mt @ 29.9% Fe producing a 68.1% Fe concentrate.

In addition, it notes that a number of historical studies have also been completed and the potential for "Julimar Style" PGE-Cu-Ni mineralisation has also been established.

Given how the Chalice Mining share price is up 650% over the last 12 months thanks largely to successful exploration at Julimar, investors appear optimistic the same could happen to the company's shares if it has similar successes.

The Burley Minerals IPO

Burley Minerals raised $6 million via the issue of 30,000,000 shares at a price of $0.20 each. This gave it a market capitalisation of $12.2 million.

However, with the Burley Minerals share price charging higher today. Its market capitalisation has now climbed to almost $23 million.

The funds raised from the IPO will support current drilling of the western limb of Yerecoin Main. Management notes that there is immediate potential to extend and upgrade magnetite resources at Yerecoin Main and Yerecoin South.

There is also the potential for discovery of additional magnetite resources. Management highlights that there is an eye-shaped magnetic feature requiring investigation for presence of ultramafics and magnetite mineralisation.

This could make it one to watch in the coming months.

The post Burley Minerals (ASX:BUR) share price rockets 105% after IPO appeared first on The Motley Fool Australia.