Guess which ASX lithium share is rocketing 30% on a new discovery

This lithium share is having a strong day…

| More on:
a miniature moulded model of a man bent over with a pick working stands behind a sign that has lithium's scientific abbreviation 'Li' with the word lithium underneath it against a sparse bland background.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Auroch Minerals Ltd (ASX: AOU) share price is having a sensational day.

In morning trade, the lithium exploration company's shares are up 31% to 6.8 cents.

Why is this lithium share racing higher?

Investors have been scrambling to buy this lithium share today after the company released an update on recent drilling activities.

According to the release, Auroch has discovered high grade lithium mineralisation in reverse circulation (RC) drill-hole samples at the Nepean Nickel Project in Western Australia. Auroch owns 80% of this project, with Lodestar Minerals Ltd (ASX: LSR) owning the balance.

What happened?

The release notes that drilling at the Nepean North Prospect was completed in the third quarter and consisted of two reverse RC holes for 539m to test an IP anomaly for nickel sulphide mineralisation.

All geologically logged pegmatites intercepted by the two RC holes were submitted for re-assay for lithium, caesium and tantalum (LCT) mineralisation as part of the company's ongoing investigation into the project's lithium potential.

Pleasingly, high grade lithium results in one hole, combined with re-logging of the 6m pegmatite interval, confirmed the presence of the lithium pyroxene mineral spodumene (the principal lithium ore mineral).

Significantly, the two holes were drilled approximately 150m apart, approximately 420m north of the previously reported lithium result. Management believes this suggests potential LCT-enriched pegmatites over a significant strike length at the Nepean North Prospect.

Auroch will immediately commence a high priority exploration programme to potentially delineate further high grade spodumene mineralisation.

Auroch's executive chairman, Mike Edwards, commented:

The discovery of high grade lithium within spodumene at Nepean is a great addition to our strategy as a battery metals focussed resource company. This nicely compliments our efforts at the Nevada Lithium Project and it will be extremely exciting to see these new lithium exploration programmes running in parallel at our WA and US projects early in the new year!

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the 'five best ASX stocks' for investors to buy right now. We believe these stocks are trading at attractive prices and Scott thinks they could be great buys right now...

See The 5 Stocks *Returns as of 30 April 2025

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

The markets lost their steam this Thursday.

Read more »

A young man pointing up looking amazed, indicating a surging share price movement for an ASX company
Broker Notes

3 amazing ASX 200 shares to buy and hold forever

Brokers think these shares are in the buy zone. Let's see why they could be top buy and hold picks.

Read more »

iPhone with the logo and the word Google spelt multiple times in the background.
Opinions

I've been buying these 2 US stocks in 2025. Here's why

Sometimes the US markets are a better place to go shopping for stocks.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Catapult, Hutchinson, SKS, and West African shares are pushing higher today

These shares are having a strong session despite the market weakness.

Read more »

A man sits in despair at his computer with his hands either side of his head, staring into the screen with a pained and anguished look on his face, in a home office setting.
Share Fallers

Why Dexus, Mayne Pharma, Nufarm, and Treasury Wine shares are falling today

These shares are having a tough session on Thursday. But why?

Read more »

A woman sits at her computer with her chin resting on her hand as she contemplates her next potential investment.
Mergers & Acquisitions

IAG share price lifts off on strategic alliance approval

IAG shares are racing higher in Thursday’s sinking market.

Read more »

Rising gold share price represented by a green arrow on piles of gold block.
Gold

Up 72% in 2025, why is this ASX 200 gold stock racing ahead of the benchmark again today?

Investors are bidding up this high-flying ASX 200 gold stock again on Thursday. But why?

Read more »

A woman wearing a black and white striped t-shirt looks to the sky with her hand to her chin contemplating buying ASX shares today as the market rebounds
Share Market News

Where could the RBA interest rate go in the next 12 months?

Here’s what one expert thinks could happen with interest rates by early 2026.

Read more »