The company in question is Far East Gold Ltd (ASX: FEG), which has a current market cap of just $46 million.

Though that's double what it was worth at the start of the month.

On 4 July, you could have bought shares in the junior ASX gold stock for 9.6 cents apiece. Earlier today, those same shares were changing hands for 20.5 cents, up 113.5%.

At the time of writing, shares are trading for 18 cents, up 5.9% in intraday trading.

Here's what's been spurring investor interest.

What's sending the ASX gold stock soaring?

The Far East Gold share price certainly won't have suffered from the surging gold price.

The yellow metal hit fresh all-time highs overnight, trading for US$2,474.5 per ounce. At the time of writing, that same ounce is fetching US$2,472.29. That sees the gold price up more than 20% so far in 2024 as investors up their bets of Federal Reserve interest rate cuts.

While that offers some nice support, the ASX gold stock got its supersized boost on Monday, 15 July.

That's when the miner announced it had executed a Binding Term Sheet with PT Iriana Mutiara Idenburg to acquire up to 100% of the Idenburg gold project.

According to the release, Idenburg is an advanced, high-grade and highly prospective 95,280-hectare gold project, located in Indonesia's Papua province.

Far East Gold noted that the same province hosts world-class multi-million-ounce gold and copper deposits. And Idenburg already benefits from more than US$25 million in historical exploration, including more than 5,500 meters of diamond drilling. Yet only 30% of the area has been explored in detail.

Commenting on the acquisition that saw the ASX gold stock soar 16.7% on Monday and gain another 21.4% on Tuesday, Far East Gold managing director Shane Menere said, "It is rare to find a project of such calibre with a substantial historical database of work completed by many of the world's major gold miners."

Menere added:

The main reason the project was not advanced further in the past was due to previous forestry classifications over the major prospect areas which restricted open cut mining. These restrictions have now been removed, paving the way for further development of this highly prospective project, which we know from previous exploration, has returned wide and high-grade gold intervals in multiple instances from surface…

We are very excited based on the extensive historical database of exploration work and many high-grade drill intercepts that demonstrate the potential for Idenburg to host a multi-million-ounce company maker'."

With the past week's share price surge, the ASX gold stock is back in the green for 2024, up 29%.

The post Have you heard of this ASX gold stock? It's up 114% in 8 days! appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is doing poorly today, down 2.45% at the time of writing. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is also struggling, losing 1.53% loss so far today.

Yet the share prices of these ASX mining stocks are up 6% or more this afternoon. Let's cover their recent developments.

Far East Gold Ltd (ASX: FEG)

Far East Gold is a copper and gold exploration company. Its shares are up 6.67% to 72 cents each in late afternoon trading. There's no news from Far East today, but yesterday the company announced it had started drilling at its Woyla Copper-Gold Project in Aceh Province, Indonesia.

The Woyla Project was explored by two companies, Barrick and Newcrest. In the 25 years that the project has been around, no other company has been able to do as much exploration and drilling on the tenement.

The company notes this is the first time drilling has commenced at the site and that it further de-risks the project.

Lanthanein Resources Ltd (ASX: LNR)

Lanthanein Resources is a mineral exploration company recording gains of 8.7% in late afternoon trade. Again, there are no announcements from the company today to make sense of the surge in the share price.

In fact, the most recent announcement from the company was posted on Friday last week. The company updated the market on its maiden drilling at its Lyons Prospect in the Gascoyne region of Western Australia.

Drilling is targetting high-grade rare earth elements (REE). Thirteen out of the total 30 holes have been drilled at depths of 1,068 metres. Analysis of the drilled materials for composition and quality was said to be underway.

Drilling at the site began on 12 September.

Artemis Resources Ltd (ASX: ARV)

Finally, Artemis Resources is a gold and copper explorer. Its shares are up 14.29% at the time of writing. The company's most recent announcement was posted on 13 September, identifying a large copper-nickel system at its Chapman project in Western Australia.

Eleven holes were drilled to a depth of 3,011.3 metres.

Artemis Resources executive director Alastair Clayton commented on the finding:

Intersecting broad shallow zones of continuous copper and nickel at Chapman is encouraging, especially as these mineralised zones appear to be related to the margins of regional gabbros and related structures. Drilling at Chapman undertaken in 2021 intersected high-grade copper mineralisation over a wide interval. We look forward to refining and developing additional targets to further explore this ~1km long prospective trend.

The post 3 ASX mining shares absolutely slaying the market today appeared first on The Motley Fool Australia.

Let's take a closer look at what they have uncovered and how they are performing on Thursday.

2 ASX mining shares lifting on exciting news

Far East Gold Ltd (ASX: FEG)

The Far East Gold share price is surging 14% higher to trade at 33 cents on Thursday.

The company's gain follows news from its Woyla Copper Gold Project. Samples from the project have been tested and found to house gold associated with sulphides.

The gold was identified by petrographic studies, undertaken to better understand gold occurring within samples that assayed bonanza grade gold and silver.

The studies have also helped verify a previous petrographic study on the project's Aloe Rek vein system.

Additionally, they confirmed high-grade gold and silver mineralisation associated with ginguro banded quartz is present within all of the defined Woyla vein systems.

Carnaby Resources Ltd (ASX: CNB)

Another tiny ASX mining share enjoying a day in the green following a new discovery is Carnaby Resources. Its stock has lifted 17% to trade at 82 cents on Thursday.

The company announced "very significant" geophysical anomalies identified at the Greater Duchess Copper Gold Project this morning.

Induced polarisation (IP) surveys have recorded large and strong IP chargeability anomalies in two previously undrilled areas of the project.

The company's managing director, Rob Watkins commented on today's news, saying:

The undrilled 3 kilometre corridor between [the project's Nil Desperandum prospect] and [its Lady Fanny prospect] now has two excellent deposit scale drill targets following the identification of these highly significant IP anomalies.

Watkins also noted that IP identified the original high grade discovery hole at the project's Nil Desperandum prospect. It showed similar anomalies as those announced today.

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The S&P/ASX 300 Metals & Mining Index (ASX: XMM) closed the session down by almost 6% on Tuesday. This brought the benchmark's losses to 11% for the past week. It's down 6% this past month.

Meanwhile, these three ASX mining shares managed to surge more than 20% yesterday.

BMG Resources Ltd (ASX: BMG)

The first ASX mining share to highlight is BMG Resources. BMG shares spiked to finish 20% in the green following a company announcement.

The company revealed it had intersected new portions of thick, high-grade gold at its Capital Prospect located at the Abercromby Gold Project.

According to the company, results "significantly add to the known mineralised envelope at the Capital Prospect which remains open at depth and along strike."

Speaking on the results, BMG managing director Bruce McCracken said that it's "now well and truly game on at Abercromby".

"In one single program, we have more than doubled the likely size of the deposit, intersected extremely high-grade gold in fresh rock, and proven the system is fertile at depth via the deepest drilling undertaken at the Project to date."

Western Mines Group Ltd (ASX: WMG)

Next on our list of outstanding ASX mining shares is Western Mines. Its share price also surged higher on Tuesday, closing at 34 cents. That was a 19% gain for the day. At one point, they were fetching 37 cents apiece before levelling off in afternoon trade.

The company advised today that the diamond drilling program at its flagship Mulga Tank Ni-Cu-PGE Project has now commenced.

The company says that numerous exciting drill targets have been defined at the project. WMG managing director Caedmon Marriott said, "each hole will take between eight to fifteen days to complete".

Continuing, he added:

The Company is also pleased to have completed the due diligence hurdle for the sale of the Pavarotti Project iron ore rights to Mineral Resources. Cash proceeds of $200,000 are expected to be received this week and these funds will go towards expanding the Mulga Tank drilling program.

The Western Mines share price has gained 70% since listing in mid-2021 and is up 84% this year to date.

Far East Gold Ltd (ASX: FEG)

Our final ASX mining share is Far East Gold. It also finished up 21% at 40 cents apiece. In an announcement, the company advised it had returned bonanza grade assays from its Rek Rinti and Aloe Eumpeuk gold and silver 'vein systems' in Indonesia.

Within the Aloe Eumpeuk prospect, Far East says that rock chip sampling of quartz veins has returned further bonanza gold and silver grades of 63 g/t gold, 1,179 g/t silver, and 26.16 g/t gold, 597 g/t silver.

"The bonanza grade samples exhibit ginguro bands which are a key textural feature common to highgrade low sulphidation epithermal vein deposits within the Gosowong Goldfield (>6Moz Au at
grades of 20-40 g/t Au) in Indonesia and at Hishikari (8Moz Au at grades of 30-40g/t Au) in Japan," the company says.

Regarding its study results, Far East said that it expects "detailed mapping" will establish continuity of the structural corridor between the Rek Rinti and Aloe Eumpeuk vein systems.

It notes the Aloe Rek vein system is located about 2km south of Aloe Eumpeuk. If confirmed, this would "form a continuous system of veins over a strike length of about 4.5km".

After listing in March 2022 the Far East Gold share price has doubled and gained 35% in the past week.

The post 3 ASX mining shares that surged by 20% or more on Tuesday appeared first on The Motley Fool Australia.

They've each gained more than 30% in intraday trade on Monday, with one surging by as much as 239%.

For context, the S&P/ASX 200 Index (ASX: XJO) gained 0.3% today, while the S&P/ASX 200 Resources Index (ASX: XJR) ended 1.61% higher.

So, what's helped send these ASX mining shares shooting for the stars today? Let's take a look.

3 ASX mining shares that took off on Monday

Kalium Lakes Ltd (ASX: KLL)

The Kalium Lakes share price was going gangbusters today, reaching 12 cents at its intraday high – representing a 57.8% gain.

As at Monday's close, the company's stock had slipped slightly to trade at 10.2 cents, still 34.2% higher than it was at the end of Friday's session.

While there's been no recent news out of the potash-focused minerals developer, there have been plenty of headlines regarding its future product.

As the Australian Financial Review reported last week, the world is experiencing a fertiliser shortage.

Russia normally exports around 15% of the world's fertiliser, according to the publication, while ally Belarus is a major source of potash-based fertiliser.

As both have been hit by sanctions amid surging gas prices, fertiliser is becoming rarer and more expensive.

While that might be bad news for food availability, it could provide a boost to the ASX miner's bottom line and help drive its share price higher.

Tempest Minerals Ltd (ASX: TEM)

The Tempest Minerals share price was also on the up-and-up on Monday.

At its highest trading point of the day, shares were swapping hands a whopping 291% higher at 9 cents apiece.

At the market close, Tempest shares had gained 278% to trade at 8.7 cents.

Today's gains come on the back of news the company has struck copper at its Meleya Project's Orion Target.

Its maiden drillhole struck the visible mineralisation. Assays on the find are now pending.

The news saw the company break a 2-session trading halt.

Far East Gold Ltd (ASX: FEG)

The final ASX mining share recording gains of more than 30% on Monday is one that landed on the exchange only hours ago.

The Far East Gold share price reached a high of 32.5 cents on the day of its float, representing a 62.5% gain on its initial public offering (IPO) price of 20 cents.  

While that impressive gain didn't last – the ASX mining share closed trading 27.5% higher at 25.5 cents – it likely left an impression on market watchers.

The junior explorer holds a portfolio of six gold and copper projects located in Queensland and Indonesia.

At its offer price, with approximately 215.82 million shares outstanding, the company had a market capitalisation of $43 million.

As of its first close, the ASX miner holds a valuation of around $55 million.

The post 3 ASX mining shares blasting more than 30% higher today appeared first on The Motley Fool Australia.