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        <title>Middle Island Resources (ASX:MDI) Share Price News | The Motley Fool Australia</title>
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                                <title>In a sea of red, these ASX mining shares are surging more than 10%</title>
                <link>https://www.fool.com.au/2022/05/09/in-a-sea-of-red-these-asx-mining-shares-are-surging-more-than-10/</link>
                                <pubDate>Mon, 09 May 2022 05:00:20 +0000</pubDate>
                <dc:creator><![CDATA[Monica O'Shea]]></dc:creator>
                		<category><![CDATA[Resources Shares]]></category>

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                                    <description><![CDATA[<p>These three ASX mining shares are staying dry on Monday.</p>
<p>The post <a href="https://www.fool.com.au/2022/05/09/in-a-sea-of-red-these-asx-mining-shares-are-surging-more-than-10/">In a sea of red, these ASX mining shares are surging more than 10%</a> appeared first on <a href="https://www.fool.com.au">The Motley Fool Australia</a>.</p>
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<p class="wp-block-paragraph">The <strong>S&amp;P/ASX 200 Resources Index</strong>&nbsp;(ASX: XJR) may be down today, but three ASX mining shares are bucking the trend. </p>



<p class="wp-block-paragraph">The ASX 200 Resources Index is down 1.81% to 5,579.9 points at the time of writing. </p>



<p class="wp-block-paragraph">Let's take a look at which ASX mining shares are outperforming the index. </p>



<h2 class="wp-block-heading" id="h-carnaby-resources-ltd-asx-cnb"><strong>Carnaby Resources Ltd </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-cnb/">ASX: CNB</a>) </h2>



<p class="wp-block-paragraph">The Carnaby Resources share price rocketed 27.55% to $1.435 in earlier trade, before retreating. The explorer's shares are currently trading at $1.235, up 9.78%. Carnaby shares surged on the back of positive drill results from the Greater Duchess Copper Gold Project in Queensland. Drill hole LFRC120 intersected with the widest high-grade mineralisation to date. This included 2.4% copper from 68m and 0.4 grams per tonne of gold from 40m. Year to date, ASX mining share Carnaby's shares have depreciated 8.52%, while they are up 209% over 12 months.</p>



<h2 class="wp-block-heading" id="h-quantum-graphite-ltd-asx-qgl"><strong>Quantum Graphite Ltd </strong>(ASX: QGL)</h2>



<p class="wp-block-paragraph">The Quantum Graphite share price is surging 8.96% to 36.5 cents. In earlier trade, the ASX mining company's share price soared 16% to 39 cents. Quantum is a producer of flake graphite products. The company is investing in advanced processing technologies for the electric vehicle (EV) battery market. Quantum <a href="https://www.fool.com.au/tickers/asx-qgl/announcements/2022-05-02/3a592720/quarterly-activities-appendix-5b-cash-flow-report/">recently reported</a> its shareholder base has increased by 35% since requoting on the ASX on 14 December. Quantum is green all round, up 128% year to date and a whopping 615% over the last 12 months.</p>



<h2 class="wp-block-heading"><strong>Middle Island Resources Ltd </strong>(<a class="tickerized-link" href="https://www.fool.com.au/tickers/asx-mdi/">ASX: MDI</a>)</h2>



<p class="wp-block-paragraph">Middle Island Resources shares have surged 23% today despite no news from the company. The miner is exploring gold and copper at the Barkly Copper Gold Super Project in the Northern Territory. Recently, <a href="https://www.fool.com.au/tickers/asx-mdi/announcements/2022-05-04/6a1090375/riu-barkly-copper-gold-growth-plan-and-focus/">the company reported</a> significant copper oxide has been identified at its crosswinds prospect. This included spot pXR readings between 24.8 and 76.2% of copper. Year to date, ASX mining share Middle Island Resources shares have appreciated 33%, and a respectable 23% over 12 months.</p>
<p>The post <a href="https://www.fool.com.au/2022/05/09/in-a-sea-of-red-these-asx-mining-shares-are-surging-more-than-10/">In a sea of red, these ASX mining shares are surging more than 10%</a> appeared first on <a href="https://www.fool.com.au">The Motley Fool Australia</a>.</p>
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