One is a healthcare technology and services company.

The other is a mineral exploration company.

Which high-flying ASX small-cap shares are we talking about?

I'm glad you asked!

ASX small-cap share rockets on new contract win

Turning to the healthcare technology and services company first, we have Resonance Health Ltd (ASX: RHT).

Resonance Health shares exited a trading halt at 3.8 cents apiece this morning, and investors sent the ASX small-cap share soaring to 6.2 cents, up 63%. After some likely profit-taking, shares are currently changing hands for 5.6 cents each, up 47%.

Investors have been piling into the healthcare stock after the company announced it has been contracted by Sun Pharmaceutical Industries to be the local Australian sponsor and to provide a range of services for its clinical trial of a new drug compound in Australia.

Sun Pharmaceuticals is a listed international pharmaceutical company with global operations.

The clinical trial agreement is worth an estimated $13.8 million in revenue for Resonance Health over the next two years.

Commenting on the agreement sending the ASX small-cap share rocketing today, Resonance Health CEO Andrew Harrison said:

The agreement is a direct result of the incredible work the team have done in executing the existing clinical trial with the customer and more broadly the company's focus on winning more work in the global clinical trials ecosystem.

This illustrates our ability to win repeat work from customers, and our capacity to scale the size of contract wins.

Also shooting higher today

The second ASX small-cap share that's going ballistic today is resource explorer Petratherm Ltd (ASX: PTR).

Shares in the junior explorer entered a trading halt last Friday after closing last Thursday at 4.9 cents each. In earlier trade, investors sent the stock rocketing to 9.4 cents, up 91.8%. Again, after some likely profit-taking, shares have retraced a touch since then, currently changing hands for 8.1 cents each, up 65.3%.

Petratherm shares are soaring today after the company reported on "outstanding results" with its trial heavy mineral separation test.

According to the release, samples taken from historical drilling at the Rosewood prospect returned "highly significant" heavy mineral grades and mineralogy.

Rosewood is part of Petratherm's Muckanippie project, located in South Australia.

The explorer said that composite samples from wide spaced drill holes over 2.5 kilometres returned heavy mineral concentrations of 12.0% and 12.5 % from shallow depths, with laboratory analysis confirming high titanium mineral content.

Titanium is on the critical minerals list for Australia, the United States and the European Union.

Commenting on the results sending the ASX small-cap share flying higher today, Petratherm CEO Peter Reid said:

The initial metallurgical results from historic drilling at the Rosewood prospect are outstanding and beyond our expectations.

As the Muckanippie project evolves, it continues to surprise with emerging potential to be a significant source of high value titanium minerals and transformational for the company.

The post Guess which 2 ASX small-cap shares just rocketed 50%+ on big news! appeared first on The Motley Fool Australia.

Two ASX mining shares that are recording stellar gains today are listed below. Here's why they are hurtling higher:

Legacy Minerals Holdings Ltd (ASX: LGM)

The first ASX mining share that is recording a strong gain today is this gold explorer.

The Legacy Minerals share price is currently up 22% to 19.5 cents but was up as much as 53% at one stage. This has been driven by the release of "remarkable" drilling results from the Bauloora Epithermal Gold Project in New South Wales.

Commenting on the results, CEO and managing director, Christopher Byrne, said:

The Legacy Minerals team is pleased to confirm a remarkable discovery at the Bauloora Epithermal Gold Project of low sulphidation epithermal veins and breccia across an extensive strike of the Mee Mar Prospect vein trend. This project's scale is demonstrated by the fact that every diamond drill hole testing the strike of the Mee Mar vein intercepted epithermal veins and breccia – delivering a continuous strike of 1,500m which remains open to the north, south and at depth.

Petratherm Ltd (ASX: PTR)

This ASX mining share is up 13% to 7.9 cents currently but was up 40% to 9.8 cents at one point.

Investors have been bidding the Petratherm share price higher following the release of an update on rare earth (REE) drill results from the Meteor Prospect, located in the Comet Project Area of the Northern Gawler Craton of South Australia.

According to the release, drilling that was undertaken during December has delivered "encouraging results." Petratherm's CEO, Peter Reid, commented:

The Meteor Prospect results are highly encouraging, demonstrating excellent clay hosted rare earth grades, intercept thicknesses and continuity between drill holes. The mineralisation starts at just a few metres below surface in the soft weathering profile allowing the potential for low-cost free dig mining. The shallow clay hosted mineralisation has formed over a layered mafic complex and potential remains for additional rare earths in the basement rock below.

The post Guess which ASX mining shares are soaring 40% or more on new discoveries appeared first on The Motley Fool Australia.

Demetallica Ltd (ASX: DRM), Lake Resources N.L. (ASX: LKE) and Petratherm Ltd (ASX: PTR) shares are all rising.

So why are these ASX mining shares surging?

Demetallica

The Demetallica share price is exploding 40% today on the back of takeover news. AIC Mines Limited (ASX: A1M) is proposing to acquire Demetallica. AIC Mines is offering Demetallica shareholders one AIC Mines share for every 1.5 Demetallica shares.

Demetallica's Jericho deposit at the Chimera Polymetal Project is adjacent to AIC Mines' Eloise copper mine. AIC Mines managing director Aaron Colleran said "combining these assets will provide the quickest and most efficient means of developing and mining the Jericho deposit".

Lake Resources

Lake Resources shares are soaring 13% today. The lithium miner's shares are rocketing following news of the Kachi Lithium Project in Argentina. Following a recent dispute on key milestones with project partner Lilac Solutions, Lake advised all parties are now confident that on-site operations will be successful.

Dry commissioning of the demonstration plant started last Wednesday. Wet commissioning is expected by this Thursday, while onsite processing of Kachi brines is forecast to start in the first week of October. Lake is also advancing offtake discussions, with new appointments to the Lake board also at the final stages of consideration.

Petratherm

Petratherm shares are soaring nearly 19% today. Petratherm is exploring multiple projects including the Comet Rare Earth Element (REE) and gold project and Muckanippie REE project in South Australia.

Petratherm has not released any price-sensitive news today. However, the company has re-released its company presentation, "critical mineral portfolio positioned for growth" with a slight modification. In the presentation, Petratherm highlights its recent exploration results and projects. Petratherm said:

The company is in a strong position with the discovery of major high-grade rare earth occurrences at shallow depth in the Northern Gawler Craton of South Australia and is working towards defining initial JORC Resources over the coming months.

The post 3 ASX mining shares going gangbusters on Monday appeared first on The Motley Fool Australia.