But there were two ASX gold shares that sat out of trading this morning. Oh, and one of them clocked a 135% gain just before it was halted.

But first, let's talk about De Grey Mining Ltd (ASX: DEG). This ASX gold share last traded yesterday, and its share price is currently frozen at yesterday's close of $1.26.

Just before market open this morning, De Grey revealed it would conduct a capital raising program to finance its Hemi Gold Project.

De Grey will raise an estimated $600 million from this capital raise. Of that figure, approximately $343.9 million will be raised from an institutional share placement, with the remaining $256.1 million coming from an entitlement offer for existing shareholders.

De Grey plans to issue 545.5 million new shares to fund this program, which represents around 29.5% of the company's current share count. These new ASX gold shares will be issued at a price of $1.10 each.

It will be interesting to see what the market makes of these plans when De Grey shares eventually return to trading.

But let's get to the 135% share price spike.

How is this ASX gold share up 300%?

That's precisely what occurred with the shares of Iceni Gold Ltd (ASX: ICL) this morning. Iceni shares closed at 2.3 cents each yesterday but opened at 3.9 cents this morning before a trading halt took effect just before 11am. By that time, this ASX gold share was trading at 5.4 cents.

After the shares were halted, Iceni revealed that the company had struck gold… literally. Iceni has made a major discovery at the gold explorer's 14 Mile Well Project in Western Australia.

In a subsequent release, Iceni confirmed that fieldwork at the site had resulted in the discovery of "multiple spectacular gold-bearing quartz veinlets" within a small area. Iceno was able to produce a 9.5-ounce gold dore bar from just one sample at the site.

Here's some of what Iceni managing director Wade Johnson had to say on this development:

The shallow excavation and sampling activities at Christmas Gift [within the 14 Mile Well Project]  exposing the rich gold-bearing quartz veinlets within the shear zone is an exciting development for the company.

The additional fieldwork has improved our knowledge of the host structure… but also provides a geological model that we can apply elsewhere in the Everleigh Well area.

The strike length of the structure is open, drill sites have been prepared and we are looking forward to commencing drilling shortly to evaluate the down dip extent of the structure and rapidly advance this priority target.

This afternoon, Iceni shares returned to trading, and investors haven't been mucking around. The company exploded to a high of 11 cents before retreating to 9.2 cents on the close of trade. That's still a whopping 300% higher than when it started the day

It's a pretty good day to be an Iceni shareholder.

The post 2 ASX gold shares making big news today (one up 300%!) appeared first on The Motley Fool Australia.

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.

The post 3 ASX mining shares booming on big news appeared first on The Motley Fool Australia.

The Iceni Gold Ltd (ASX: ICL) share price is rocketing ahead 64% in today's trade to 10.5 cents.

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

A 'Christmas Gift' gold target

Iceni gold is exploring the 14 Mile Well Gold Project in the Laverton Greenstone Belt of Western Australia.

Investors appear to be buying up Iceni shares amid an exploration update at the Everleigh Well target area of the project.

Iceni revealed to the market it has hit "spectacular high grade vein" at the "Christmas Gift" target known as 14UF010B at Everleigh Well.

Assay results showed multiple high-grade rock chip results from the outcropping gold bearing vein.

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 results, 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.

The high-grade rock chip results from the vein are supported by the underlying UFF+ soil anomaly, prospectivity indicators (including gold nuggets, workings and anomalous geochemical assays) and the multiple coincident targets generated by existing exploration work.

Field work is continuing to prepare for further exploration drilling within the Christmas Gift target.

Iceni has eight high-priority target areas at the 14 Mile Well project.

Iceni Gold share price snapshot

The Iceni Gold share price has lost 19% in the last year.

This ASX 200 gold share has a market cap of about $21.9 million based on the current share price.

The post Guess which ASX gold share is exploding 64% on a 'spectacular high-grade' find appeared first on The Motley Fool Australia.

The gold stock was up as much as 150% in early morning trade and is currently trading 111% higher at 14 cents.

Any guesses on which ASX gold share we're talking about?

If you said Iceni Gold Ltd (ASX: ICL), give yourself a, erm, gold star.

So, why is the Iceni Gold share price going gangbusters?

What's driving investor interest in this tiny ASX gold share?

Investors are snapping up Iceni Gold shares after the explorer reported discovering gold nuggets at its Guyer target area, situated within its 14 Mile Well Gold Project in Western Australia.

According to the release, the high-purity nugget trend extends across several kilometres and coincides with the UFF+ gold anomaly reported earlier this month. Iceni said this provided evidence of a nearby primary source for the nuggets, clearly piquing investor interest.

The ASX gold share has been conducting an extensive air core drilling campaign at Guyer, with 363 holes totalling 23,000 metres completed. The assays on the AC holes are expected any day now.

The Iceni Gold share price is likely getting an additional boost from the report that it has discovered additional nuggets at its Everleigh target.

Commenting on the development sending the ASX gold share rocketing today, Iceni technical director David Nixon said:

The gold nuggets provide physical support for the UFF+ soil anomaly and the shape and composition of the nuggets suggest primary sources are nearby. The results of the air core program at Guyer that covers the same area will help to confirm if there is mineralisation in that area.

The company cautioned investors that "the visual identification, estimates of mineral abundance or point pXRF measurements should never be considered a proxy or substitute for laboratory analyses".

That laboratory analysis in this case is "imminent".

Iceni share price snapshot

Despite today's big leap higher, the ASX gold share remains down 27% year to date. That compares to a loss of 7% posted by the All Ordinaries Index (ASX: XAO) in 2022.

The post Guess which ASX gold share rocketed 150% today on a 'significant nugget discovery' appeared first on The Motley Fool Australia.

The company's shares shot up 34.78% and finished the day at 15.5 cents. In afternoon trade, shortly after Iceni released the news, its shares surged by as much as 39% to 16 cents.

Let's take a look at what this ASX mining share announced today.

Gold intersected

In an announcement to the ASX this afternoon, Iceni revealed gold was intersected in drilling at the Everleigh Well target area of the 14 Mile Well gold project area. This project is located in Laverton, Western Australia.

At hole FMDD0032, drilling intersected a "broad zone of structural disruption". Gold was found at a downhole depth of 224.6 metres.

Iceni said geological analysis of structures, alteration, and gold associated with sulphides is "highly encouraging".

Commenting on the results in a statement signed off by the board of the ASX mining share, the company said:

The observation of native gold associated with sulphides is significant as it demonstrates the structures at this location are carrying gold mineralisation.

This result opens up the potential for the Castlemaine Fault to host gold.

Iceni will do further analysis of the drill core to get a better insight into the geology and mineral system of the Everleigh target area.

This company considers a 30km long stretch within the project to be prospective for gold mineralisation.

Assay results for the drill hole are expected at the end of quarter two.

Iceni Gold share price summary

The Iceni Gold share price has plummeted 34% in the past year, while it has fallen 16% in the year to date. However, in the past month, this ASX mining share has rocketed by nearly 35%.

For perspective, the S&P/ASX 200 Index (ASX: XJO) has returned more than 8% in the past year.

Iceni Gold has a market capitalisation of 19.9 million based on its current share price.

The post Gold discovery sends this ASX mining share soaring 35% appeared first on The Motley Fool Australia.