Tuesday is proving to be a rough day for the broader ASX mining sector, but three shares are bucking the trend to rocket on news of major discoveries.
They're gaining as much as 24% right now following the release of exciting announcements.
Meanwhile, the S&P/ASX 200 Materials Index (ASX: XMJ) is weighing on the market, falling 0.1%. For comparison, the S&P/ASX 200 Index (ASX: XJO) is up 0.3% right now.
So, what have these tiny ASX mining shares announced to the market today? Keep reading to find out.
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3 ASX mining shares soaring on new discoveries
Let's start with the once in a 'blue' moon – or at least, once in 50 years – discovery announced by Green Technology Metals Ltd (ASX: GT1).
The company has uncovered a new discovery, named Blue Bear. It marks the first new find at its flagship Seymour Lithium Project in more than half a century.
It will now push to delineate the discovery's scale and test further targets at the project. It's expected to culminate in an updated mineral resource estimate in the coming months.
The ASX mining share is soaring on the news, gaining 7% to trade at $1.07 right now.
It's joined in the green by its peer, Sarytogan Graphite Ltd (ASX: SGA). The stock has launched a whopping 28.3% to trade at 29.5 cents right now.
The graphite explorer announced high-grade drill results from its namesake project this morning. The drill program is still ongoing and is set to enable an updated mineral resource estimate in the first quarter of 2023.
The final ASX mining share taking off on news of a discovery today is Native Mineral Resources Holdings Ltd (ASX: NMR).
It released an update on drilling underway at Northern Queensland's Maneater Hill Polymetallic Sulfide Prospect. A second diamond drill at the project has intersected targeted sulfide breccia at a depth of 120 metres, confirming the potential that it extends further than anticipated.
The ASX mining share is up 5.7% right now, trading at 18.5 cents.
