ASX miners continue to have a stellar run in 2022 with several names eclipsing triple-digit gains since trading resumed in January.

Despite some commodity prices softening lately, the volatility has provided plenty of upside potential for market pundits.

For instance, the lithium carbonate price has cooled in recent weeks and now trades at 457,000 yuan/tonne, its lowest point since February 2022.

According to Trading Economics, "lithium carbonate production in China rose by 2% on the month and 30% on the year during April, while supply is projected to further increase in May".

Nonetheless, the following three ASX mining shares have spiked more than 10% across Wednesday's session. Let's take a look.

Latin Resources Ltd (ASX: LRS)

The Latin Resources share price is up 13% today, extending gains from yesterday's session when the company told investors it's secured another "highly prospective tenement" at its Salinas Lithium Project in Brazil.

The move expands the project's footprint to the east to cover additional strike extensions, as TMF reported yesterday.

Apparently, the tenement is "highly prospective, with known outcropping spodumene bearing pegmatites".

The company said its addition expands Latin Resources' strategic land package to over 6,230 hectares in the Salinas lithium corridor.

After this latest rally, the Latin Resources share price has gained 374% this year to date.

Metals Australia Ltd (ASX: MLS)

Shares of Metals Australia have surged another 12% today, continuing an upward trend that began last week.

On Monday, the company advised that it had intersected further thick lithium-bearing pegmatite intersections at the Manindi Project. The site is located 20 km southwest of the Youanmi Gold Mine in the Murchison District of Western Australia.

The company announced:

Infill drilling on 40m sections of the recently discovered, 500m strike length, Foundation Pegmatite has intersected depth extensions of the previously reported thick intersections of lithium bearing pegmatite identified in a 2022 drilling program.

The new intersections include a 12m pegmatite intersection in MNRC069 from 70m to 82m with intervals of purple Li-Rb bearing minerals.

The gain brings Metals Australia's outsized return to 150% for the year to date.

Strike Resources Ltd (ASX: SRK)

The Strike Resources share price spiked 19% higher during intraday trading to 19 cents, its highest mark since early May.

At the time of writing, Strike shares have settled at 18 cents apiece, 12.5% higher.

Despite no market-sensitive updates from the company today, investors continue bidding up its share price on a volume roughly 40% of its four-week average.

Earlier this month, Strike posted its quarterly update for the three months ending 31 March 2022, providing an overview of its progress to date.

On the same day, it also provided an update on the Paulsens East Iron Ore Project.

The company said, "Mining operations have commenced with Paulsens East Lump DSO currently being stockpiled prior to delivery to Utah Point."

After a difficult period in 2021, the Strike Resources share price has secured a 63% gain for the year to date.

The post 3 ASX mining shares surging more than 10% today appeared first on The Motley Fool Australia.

Shares in Metals Australia Ltd. (ASX: MLS) are surging 49% into the green today to now trade 7.6 cents apiece.

Investors are responding well to a company announcement that sees Metals Australia announce assay results from the company's Manindi Lithium Project.

Metals Australia shares have broke away from the broad index over the past 5 days of trading, and are now close to doubling in that time on last check.

It has also surpassed the S&P/ASSX 200 Metals & Mining Index (ASX: XMM) in that time, even as all commodities are at decade long highs, as shown on the chart below.

What did Metals Australia announce?

The ASX mining company announced the release of assay results from the "systematic rock chip sampling program testing key pegmatites" at Manindi, located in WA.

Metals Australia says that it undertook a systematic rock chip sampling program over a 500m strike length within nearby pegmatites, including the recently discovered "Foundation Pegmatite".

"Over 1.2km strike length of Lithium-CaesiumTantalum (LCT) bearing pegmatites have been sampled at an average spacing of approximately 40 metres", the company said.

From its results, the company says that "outstanding" sample results were collected and that lithium mineralisation has been confirmed along the entire 500 metres strike length of this Foundation Pegmatite.

"Highly anomalous lithium (Li), Tantalum (Ta), Caesium (Cs) and Rubidium (Rb) results were produced from
all pegmatites sampled…including up to 2.30% Li2O and 0.70% Rb with an average of 1.29% Li2O and 0.51% Rb over the entire 500 metre strike length", it remarked.

The company also advised that it is currently testing a reverse circulation (RC) drilling program of up to 3,500 metres at the site that has already intersected up to 16 metres downhole of mineralised pegmatite.

Now Metals Australia is waiting on the samples of this above RC program to be submitted to the laboratory for examination.

The announcement follows on from an update on 28 February where Metals Australia advised it had intersected "high-purity flake-graphite concentrate results" at itsLac Rainy High-Grade Graphite Project. Tests there showed results were up to 96.8% total graphitic carbon (Cg) following the flowsheet development program.

Metals Australia share price summary

In the last 12 months, the Metals Australia share price has exploded 9% and is up another 97% this year to date.

During the past month of trading, shares have soared further into the green such that Metals Australia is thus leading most ASX shares in 2022.

The post 'Outstanding lithium results' are sending this ASX mining share rocketing 49% today appeared first on The Motley Fool Australia.