The S&P/ASX 200 Materials index (ASX: XMJ) is climbing 0.09% today, but three ASX mining shares are soaring far higher.

The Ioneer Ltd (ASX: INR), Victory Metals Ltd (ASX: VTM) and Black Cat Syndicate Ltd (ASX: BC8) share prices are all charging higher today.

So why are these three ASX mining shares all lifting today?

Black Cat Syndicate

Shares in Black Cat Syndicate shares are up 13%, trading at 43 cents apiece at the time of writing after the company provided a mineral resource update to the market.

Black Cat today advised the underground resource at Coyote Central in Western Australia had lifted to 356 koz at 14.6 grams per tonne of gold (51% indicated).

Describing Coyote Central as "one of the highest-grade deposits in Australia", the company will continue exploration drilling and test work at the project.

Commenting on the news, managing director Gareth Solly said:

It is exciting to have already demonstrated the grade and scale potential of Coyote within such a short period of time.

Despite today's major gains, Black Cat shares have slid 32% in the last 12 months.

Ioneer

Ioneer is developing the Rhyolite Ridge lithium and boron project in Nevada, USA. The company's shares are rocketing 19.2% at the time of writing.

In news released today, Ioneer has received a conditional commitment from the US Department of Energy for a $700 million loan to develop the Rhyolite Ridge project. A significant equity contribution from Sibanye Stillwater Ltd (NYSE: SBSW) to secure a 50% interest in the project will also help fund capital expenditure at the project.

Managing director Bernard Rowe welcomed the news, saying:

The conditional commitment is the culmination of 23 months of discussions with and due diligence by the Loan Programs Office and it represents a significant milestone for Rhyolite Ridge.

We look forward to working with the DOE and Sibanye-Stillwater to complete the remaining milestones to start construction of Rhyolite Ridge.

The Ioneer share price has slid 33.4% in the last year. However, it has gained 28% in the last week.

Victory Metals

Victory Metals shares are soaring 11.9% today. The company advised the market of a "high-grade rare earth extension" at the company's North Stanmore project in Western Australia.

Assay results showed a significant total rare earth oxide (TREO) grade of 1001 parts per million (ppm) from 1m samples and up to 5239 ppm with a cut-off of 500 ppm.

Commenting on the news, executive director Brendan Clark said:

What an extraordinary moment for Victory with confirmation of a significant rare earth element mineralisation extension at our North Stanmore REE discovery

Victory Metals shares have climbed 9.3% in the past 52 weeks.

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

The S&P/ASX 200 Materials Index (ASX: XMJ) is down 1.45% today, but three ASX mining shares are bucking the trend.

The iTech Minerals Ltd (ASX: ITM), OD6 Metals Ltd (ASX: OD6) and Victory Goldfields Ltd (ASX: 1VG) share prices are all storming higher today.

Let's take a look at why these three mineral explorers are having such a top run today.

Victory Goldfields

The Victory Goldfields share price is soaring 17% today. Victory is exploring multiple commodities in the Cue Goldfields in Western Australia.

Late last week, Victory provided a rare earths update to the market. The company advised magnetic and gravity survey data provide grounds for a diamond drilling program at the company's alkaline intrusion prospect. Alkaline intrusions are "engine rooms for rare earth elements and critical metals", Victory highlighted.

OD6 Metals

The OD6 Metals share price is soaring 27% today to an all-time high. The company joined the ASX this year. OD6 Metals is exploring the Splinter Rock rare earth element (REE) project 150km away from Esperance, Western Australia. The company is also working on the Grass Patch REE project, 100km away from Esperance.

While the company has not released any recent news, earlier in November the company's share price soared 176% in two days following "outstanding assay results" at Splinter Rock. OD6 discovered widespread, thick, clay hosted REE mineralisation at the project.

iTech Minerals Ltd 

The iTech Minerals share price is soaring nearly 16% today. iTech is exploring the halloysite-kaolinite and rare earth elements project in South Australia. The company is also developing the Campoona Graphite Deposit on the Eyre Peninsula with an aim of supplying the battery materials market.

The company recently conducted a $4.5 million capital raise to fund graphite exploration. A share purchase plan was also offered last week to raise up to $2 million. The company has drilling planned in November and December this year.

The post 3 ASX mining shares surging over 15% on Monday appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) fell 1.17% today, but three ASX mining shares charged higher.

The Winsome Resources Ltd (ASX: WR1), Victory Goldfields Ltd (ASX: 1VG), and Burley Minerals Ltd (ASX: BUR) share prices all lifted today.

So why did these ASX mining shares have such a good day? Let's take a look.

Burley Minerals

Burley Minerals shares soared 67% in early trade today to 40 cents before retreating. The company's share price closed 33% ahead at 32 cents.

Burley shares exploded on lithium acquisition news. The ASX mining share has entered an exclusive agreement to acquire the Chubb Lithium project in Quebec, Canada and the Mt James and Dragon Projects in Western Australia.

Burley managing director Wayne Richards said:

The strategic and geographic location of all three potential projects are located in world class mining provinces and in Tier 1 jurisdictions of Australia and Canada.

Victory Goldfields

The Victory Goldfields share price soared 28% today, ending the day at 28 cents.

Investors bought up Victory shares on rare earth news. Positive magnetic and gravity survey data provide grounds for a diamond drilling program at the company's alkaline intrusion prospect.

Alkaline intrusions are seen as "engine rooms for rare earth elements and critical metals", the company highlighted.

Angled drill holes are planned to "assess the extent of country rock alteration adjacent to the intrusion". Victory has appointed Orlando Drilling to perform the diamond drilling program.

Winsome Resources

Winsome Resources shares rocketed 33% to $1.17 apiece.

The ASX mining share did not release any news to the market today. However, Winsome shares have soared 234% in a month. They have surged 216% since market close on 27 October alone.

On 28 October, the company's share price skyrocketed after it found significant pegmatite intercepts at the Adina and Cancet lithium projects in Canada.

On Tuesday this week, Winsome advised it would raise $6.8 million to advance the Cancet and Adina lithium projects.

The post 3 ASX mining shares that soared more than 20% today appeared first on The Motley Fool Australia.

Three ASX mining shares defied the sell-off in the materials sector on Tuesday.

The S&P/ASX 200 Materials Index (ASX: XMJ) was today's second-worst-performing sector index, losing 1.01% by market close. ASX 200 lithium shares were hit particularly hard, with the Core Lithium Ltd (ASX: CXO) share price dumping a massive 15.82% by the day's end.

But back to our big-moving little miners, which also outperformed the broader market by a large margin. The S&P/ASX 200 Index (ASX: XJO) didn't move much at all today, finishing the session with a 0.07% loss.

Let's uncover why these mining shares were off to the races on Monday.

Victory Goldfields Ltd (ASX: 1VG)

The Victory Goldfields share price finished Tuesday's trade up by a sizeable 30.56%.

Earlier in the session, shares of the gold junior exploded over 70% after the company posted news regarding a new discovery of not gold, but rare earths (REE).

Victory Goldfields revealed the drilling results from its North Stanmore REE project located in Western Australia, which included high-grade heavy rare earth oxide (HREO) yields.

The discovery was described as being 'significant' as it's up to 350% more valuable than previously reported deposits.

Victory Goldfields executive director Brendan Clark commented that the discovered grades and ratios "potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our high basket price."

Lycaon Resources Ltd (ASX: LYN)

The Lycaon Resources share price also gained an impressive 32.26% on Tuesday.

The mineral explorer announced this morning it had entered into a binding heads of agreement to acquire the Stansmore Carbonatite Project located northwest of Alice Springs.

Elements explored at the site are niobium and rare earths.

The company's technical director, Thomas Langley, described the news as "an exciting opportunity for Lycaon".

Lycaon Resources is a microcap ASX mining share with a market cap of just $14.5 million.

BBX Minerals Ltd (ASX: BBX)

Finally, BBX Minerals ended Tuesday's trade up by 23.68%.

There was no news from the company today, but shares could be surging higher on the euphoria of yesterday's announcement.

The mineral explorer reported that recent bioleaching test work had delivered impressive results. BBX Minerals reported that there was a "significant increase in reported precious metals following [the] bioleaching process".

Further studies are underway that will include assay results using a larger sample size.

The technology will reportedly help with "metal extraction from low-grade ores and mineral concentrates".

The post 3 ASX mining shares that surged over 20% Tuesday appeared first on The Motley Fool Australia.

While the All Ordinaries Index (ASX: XAO) is down 0.2% heading into the lunch hour, this gold stock junior leapt 77.7% in early trade and is currently up 58.3% from yesterday's close.

The big move higher doesn't come after the ASX gold share struck a rich vein of the yellow metal, but rather a significant rare earth element (REE) announcement.

Any guesses on which explorer we're talking about?

If you said Victory Goldfields Ltd (ASX: 1VG), give yourself a gold star.

What REE discovery did the ASX gold share report?

The Victory Goldfields share price is rocketing after the company announced promising initial results from its 118 hole air core (AC) drill campaign at its North Stanmore REE project, located in Western Australia.

The results revealed "significant" REE was confirmed up to 4 kilometres from the explorer's initial discovery.

The ASX gold share said the assays returned Heavy Rare Earth Oxide (HREO) enriched with a HREO/TREO ratio of 34%. The company noted this could be up to 350% more valuable compared to Light Rare Earth Oxide (LREO) hard rock deposits.

Scandium – used to manufacture the alloys in fighter jets as well as in hydrogen fuel cells – in the latest assays exceeded global economic grades.

Commenting on the results sending the ASX gold share rocketing higher today, Victory Goldfields' executive director Brendan Clark said:

Rare Earth Element grades and critical metal ratios at this level, potentially make the discovery one of the most valuable ionic clay hosted rare earth systems compared to our peers based on our high basket price…

The North Stanmore discovery also benefits from direct access to the Great Northern Highway and close proximity to Perth and the Geraldton Port, making the discovery a market leader for its logistical advantages.

The explorer intends to immediately kick off another 10,000 metres of AC drilling and has appointed RSC Mining & Mineral Exploration to commence a (JORC) Mineral Resource Estimate.

Victory Goldfields share price snapshot

The ASX gold share is a relative newcomer to the exchange, having listed on 22 July 2021.

With today's big intraday lift factored in, the Victory Goldfields share price is up 43% in 2022. That compares to an 8% calendar year loss posted by the All Ordinaries.

The post Guess which ASX gold share just exploded 70% on a new rare earths find appeared first on The Motley Fool Australia.

The S&P/ASX 200 Materials Index (ASX: XMJ) is falling 0.43% today, but three ASX mining shares are leaping following news of mineral discoveries.

The share prices of Victory Goldfields Ltd (ASX: 1VG), ABX Group Ltd (ASX: ABX), and Gascoyne Resources Ltd (ASX: GCY) are all in the green today.

Let's take a look at what these explorers have discovered.

Gascoyne Resources

Gascoyne shares are soaring 15% today on the back of news from the company's Dalgaranga Gold Project in Western Australia.

Reverse Circulation drilling intercepted with thick, high-grade gold. This included 50 metres at 4.58 grams per tonne gold (g/t) from 191 metres including 24 metres at 7.3 g/t.

Managing director Simon Lawson said:

Wherever we drill to test the extends of this beast we hit more gold.

These outstanding new results clearly demonstrate that we are dealing with a wide, high-grade and potentially very large gold system at Never Never.

ABX Group

The ABx Group Ltd (ASX: ABX) share price is surging 16% today. The company announced a "major expansion" of a rare earth discovery at the Deep Leeds project in Tasmania.

Drilling assays showed the extent of rare earth elements mineralisation has expanded 230% to 4.01 square kilometres. The company has started working on a maiden REE resource estimate for the project.

Commenting on the results, CEO Dr Mark Cooksey said:

The southwest trending channel delineated by holes DL403, DL450 and DL453 has been extended 750m westwards by hole DL520 that intersected 5m thickness of ionic adsorption clay REE mineralisation averaging 2,170 ppm TREO from 3m dept.

Victory Goldfields

The Victory Goldfields share price has risen as high as 22% today. Investors are buying up the ASX mining share after drilling results showed widespread REE mineralisation. This is at the company's wholly-owned North Stanmore Project.

Results included:

• 4 metres at 2414 parts per million (ppm) Total Rare Earth Oxide (TREO) from 28 metres
• 8 metres at 1876 ppm TREO from 24 metres
• 12 metres at 1319 ppm TREO from 24 metres.

Executive director Brendan Clark said:

Victory is very excited to confirm the significant extension of a high grade rare earth element mineralisation that now covers an area of about 1km.

The Victory Goldfields share price has since declined to be trading flat in late trading today.

The post 3 ASX mining shares leaping on mineral discoveries appeared first on The Motley Fool Australia.