The S&P/ASX 200 Materials Index (ASX: XMJ) fell 2.18% today, but these two ASX mining shares bucked the trend.
The Solis Minerals Ltd (ASX: SLM) and Antilles Gold Ltd (ASX: AAU) share prices jumped higher on the last trading day of May.
Let's take a look at what impacted these two ASX mining shares.
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Solis Minerals
The Solis Minerals share price finished 103% higher today at 28.5 cents. Solis shares skyrocketed amid news the company has signed a binding agreement to acquire the Jaguar Lithium Project in Brazil.
ASX lithium share Latin Resources, Solis' biggest shareholder, will provide "exploration guidance and country experience" to Solis.
The Jaguar project has shown spodumene grades in oxidised pegmatite of up to 4.95% lithium oxide from rock chip samples.
Commenting on today's news, executive director Matthew Boyes said:
Brazil is fast becoming a significant player in the hard rock lithium space. Solis's primary objective is to quickly position itself by acquiring highly prospective underexplored projects in the northeast of Brazil.
The Jaguar pegmatite hosts confirm LCT-bearing pegmatites with some of the coarsest and most abundant spodumene occurrences I have seen.
These tenements in what may be a new Lithium province are a fantastic addition to our already large tenement position in the northeast of Brazil, and with drilling to commence immediately, I am excited by this opportunity to better understand the potential of this very exciting system.
Antilles Gold
Antilles Gold shares soared 12% on the market today despite no news from the company. The company explores for gold, copper, and other metals.
Overnight, the gold price lifted by 1.4% to US$1959.59. Commenting on the price, ANZ senior economist Adelaide Timbrell said, in a research note, today:
Gold gained as US Treasury yields slumped on hopes the US congress will approve a debt ceiling deal that will avert a default.
Gold is currently up 0.1% to US$1,960 an ounce, according to CNBC.
Antilles Gold recently provided a drilling update on the El Pilar copper, gold, and porphyry deposit in central Cuba.
The company has completed 2,000 metres of a 7,000-metre drilling campaign at the gold and copper oxide zone.
Antilles plans to report assay results to the market sometime this week.
