In morning trade, the ASX mining stock is up a massive 92% to a 52-week high of 50 cents.

Why is this ASX mining stock rocketing?

Investors have been scrambling to buy the copper explorer's shares today after it released assay results from the Brumby Ridge Prospect within the Mt Isa East Cu-Au Project in Queensland.

According to the release, the latest assays confirm bonanza copper grades at Brumby Ridge in drill hole 23MERC028. This includes 71 metres at 2.8% copper and 2 metres at 6.1% copper.

In addition, RC hole 23MERC030 was drilled closer to surface, just north-west of 23MERC028, and intersected the top of the breccia zone, returning good grades.

The good news is that the mineralisation at the Brumby Ridge Prospect is open in all directions and appears to increase in copper and gold grade with depth according to management. This bodes well for future drilling activities.

But management isn't resting on its laurels. It advised that a downhole electromagnetic survey (DHEM) is in progress at the Brumby Ridge and Raven Prospects, with results expected in December.

The ASX mining stock's managing director, Ian Warland, believes this could be the start of something special. He said:

Seventy-one metres at 2.8% Cu, with a higher-grade intersection of twenty-four metres at 5.4% Cu could be the start of a significant discovery at Brumby Ridge for Cooper Metals. Of the five drill holes to date, three have hit significant mineralisation and finished in mineralisation.

DHEM is being trialled at the Brumby Ridge and Raven Prospects, along with plans to conduct a larger program of RC and diamond drilling at Brumby Ridge in first quarter 2024, chasing the higher-grade mineralisation at depth and along strike. This whole Prospect area is well located, just down the road from Mt Isa township and will continue to be our main focus going in to 2024.

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In earlier trade on Tuesday, the mining company was up 139%, trading for 33.5 cents per share.

After some likely profit-taking, shares are trading for 27 cents apiece at the time of writing, up 92.9%.

For some context, the All Ordinaries Index (ASX: XAO) is up 0.67% at this same time.

Any guesses?

If you said Cooper Metals Ltd (ASX: CPM), give yourself a virtual gold star.

Here's what's spurring investor interest on Tuesday.

Why is the ASX mining share rocketing?

The Cooper Metals share price is flying higher after the ASX mining share reported some promising exploration results at its Mt Isa East copper and gold project, located in Queensland.

The assay results come from the Brumby Ridge and Raven Cu-Au prospects within the project.

Among the highlights, a reverse circulation (RC) hole at Brumby Ridge intercepted 50 metres at 1.32% copper from 80 metres. That includes 2m @ 6.1% Cu & 0.23 grams of gold per tonne.

Cooper Metals noted this represents the best assayed drill intercept at Mt Isa East so far. Follow-up drilling at Brumby Ridge started last week, intercepting what management labelled "an amazing" 72m @ 1.5% Cu from 113 metres to end of hole.

The miner also reported additional significant mineralisation intersection at its Raven prospect.

Commenting on the results sending the ASX mining share rocketing today, Cooper Metals managing director Ian Warland said, "To say we are pleased with the results of the initial scout drilling on five Cu-Au prospects is an understatement."

Warland added:

These two prospects are now the company's main focus and are being followed up as we speak, as Cooper continues to test its pipeline of quality Cu-Au prospects in the region.

This cluster of prospects, including Mafic Sweats South, are only around 30 kilometres to the southeast of Mt Isa, close to infrastructure and worthy of further priority investigation and exploration by Cooper.

Ongoing RC drilling at the prospects is expected to be completed this week. Assays are expected in December.

Cooper Metals share price snapshot

With today's big boost factored in, the ASX mining share is back in the green for 2023, up 20%.

The post Guess which ASX mining share just leapt 139% on 'another great intercept' appeared first on The Motley Fool Australia.