The Western Mines Group Ltd (ASX: WMG) share price has exploded 341% since market close on 24 March, finishing at 70.5 cents on Wednesday.

Let's take a look at what has been going on with this ASX mining share.

What's been happening?

Investors have been buying up this ASX mining share in the last month amid a nickel discovery in Western Australia.

On 5 April, the company advised it had discovered a "significant nickel system" at the Mulga Tank Ni-Cu-PGE Project.

Assay results showed multiple, broad intersections of nickel sulphide mineralisation at deep hole MTD023.

Commenting on this news, Western Mines managing director Dr Caedmon Marriott said:

It could well be a pivotal hole for the company, with these assay results confirming the visual observations of extensive disseminated nickel sulphide mineralisation.

Following this news, the company's share price continued to soar on 6 April amid aqua regia test work results at the project.

The test work found a high percentage of nickel in sulphide form versus silicate nickel.

The company's share price soared 233% between market close on 4 April and 6 April alone.

On 13 April, Western Mines conducted a capital raise to fast-track drilling at the Mulga Tank Project.

The company raised more than $2.7 million before costs via the placement of 8,019,500 new fully paid ordinary shares at 34 cents per share.

Finally, on 17 April, Western Mines provided an update on diamond drill hole MTD025 at the Mulga Tank project.

The hole intersected with about 446 metres of high MgO adcumulate dunite with multiple instances of visible nickel sulphide mineralisation.

Nickel can be used in electric vehicle (EV) batteries.

Share price snapshot

Western Mines shares have risen 107% in the last year. In the last week, the company's share price has soared 78%.

This ASX mining share has a market capitalisation of about $34.6 million based on the latest share price.

The post Guess which ASX mining share has exploded 300% in a month appeared first on The Motley Fool Australia.

In morning trade, the nickel explorer's shares are up 65% to a record high of 52 cents.

This means the Western Mines share price is now up a whopping 320% over the last two trading sessions.

Why is the Western Mines share price rocketing higher?

Investors have been scrambling to buy the company's shares since it announced the discovery of a significant nickel system at the Mulga Tank Ni-Cu-PGE Project on Wednesday.

As we covered here, assay results from the MTD023 deep hole revealed multiple broad intersections of nickel sulphide mineralisation. In addition, the company notes that there were elevated levels of nickel and sulphur, in combination with highly anomalous copper and platinum group elements, which is considered strong evidence for an extensive "live" magmatic sulphide mineral system.

Western Mines Group then followed this up with another promising announcement this morning.

According to the release, initial aqua regia testwork results have been positive. The company compared two different methods of testing: one that breaks down most minerals (four acid) and one that only dissolves certain minerals (aqua regia).

The results of the comparison testwork suggests a high percentage of nickel in sulphide form versus silicate nickel, with intervals from all holes showing better than 97% similarity in results.

Management believes that these results offer encouragement to conduct further metallurgical beneficiation testwork to demonstrate the recovery of nickel sulphide into a high-grade saleable concentrate.

Western Mines Group Managing Director, Dr Caedmon Marriott, said:

This basic comparison testwork attempts to further confirm the disseminated nickel mineralisation at Mulga Tank and prove that it is hosted in potentially recoverable sulphide form – these very positive results clearly demonstrate it is.

We're conscious of exploring by economics and deliberately selected shallow intervals found in the top few hundred vertical metres that could be amenable to large scale open pit scenario. These intervals appear laterally continuous between holes MTD012, MTD022 and MTD023 over some 1.6km – though a lot of further drilling is required to confirm this. Upcoming hole MTP024 will also attempt to step out halfway between the broad intersections of mineralisation seen in holes MTD023 and MTD020 in the southeast corner of the body and hopefully really highlight the scale of the system.

The post Here's why the Western Mines share price is surging another 65% on Thursday appeared first on The Motley Fool Australia.

The Western Mines Group Ltd (ASX: WMG) share price is soaring 269.57% at the time of writing to 42.5 cents.

Let's take a look at what this ASX 200 mining share reported to the market.

Nickel discovery

Investors are buying up Western Mines shares after the company announced the discovery of a "significant nickel system".

Nickel can be used in lithium-ion batteries for electric vehicles (EV).

Assay results were reported for deep hole MTD023 at the company's Mulga Tank Nickel, copper and platinum group elements (PGE) project in Western Australia.

The results showed "multiple broad intersections" of nickel sulphide mineralisation.

This included:

• 78m at 0.28% nickel (Ni), 131ppm cobalt (Co), 70ppm copper (Cu), 32ppb platinum (Pt) and palladium (Pd) 118m including
• 20m at 0.38% Ni, 137ppm Co, 57ppm Cu, 45ppb Pt and Pd from 176m and
• 306m at 0.26% Ni, 130ppm Co, 47ppm Cu, 24ppb Pt and Pd from 402m and
• 221.5m at 0.25% Ni, 116ppm Co, 68ppm Cu, 23ppb Pt and Pd from 794.5m including
• 11.5m at 0.37% Ni, 134ppm Co, 75ppm Cu, 43ppb Pt+Pd from 794.5m and
• 88m at 0.44% Ni, 151ppm Co, 85ppm Cu, 38ppb Pt+Pd from 1,212m

The results affirm the presence of an "extensive magmatic nickel sulphide mineral system" within the Mulga Tank Ultramafic Complex, Western Mines said.

Commenting on the results, Western Mines managing director Dr Caedmon Marriott said:

The hole validates our geological model of the complex and really demonstrates a significant working nickel sulphide mineral system with huge volumes of mineralised ultramafic magma.

It could well be a pivotal hole for the company, with these assay results confirming the visual observations of extensive disseminated nickel sulphide mineralisation.

The company will continue to update shareholders as drilling at the site continues.

Western Mines share price snapshot

The Western Mines share price has soared 70% in a year. In the last month, the company's share price has risen 117%.

This ASX mining share has a market capitalisation of about $17.4 million based on the current share price.

The post Guess which ASX mining share is exploding 270% today on a 'significant' discovery appeared first on The Motley Fool Australia.

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.

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