Shares of Moag Copper Gold (CSE:MOG) surged 200 percent after the company said it has confirmed significant molybdenum-copper-silver mineralization at its Mace property in Ireland today.
The company wrapped up a six-hole drilling campaign at the asset, which is located in Galway county in the west of Ireland.
Highlights include intercepts up to 3.1 metres at 0.34% copper, 0.29% molybdenum and 3.43 grams per tonne (g/t) silver and 3.3 metres of 0.37% copper within broad zones of up to 16 metres at 0.14% copper, 0.10% molybdenum and 0.81 g/t silver.
Moag said drilling confirms the mineralized zone extends for over 350 metres along strike, and to a vertical depth of at least 150 metres, remaining open along strike and down dip.
Geological mapping and historic drilling at the site suggests the prospect extends for at least 1,000 metres along a northeasterly geological strike, it added.
Future drilling next year is expected to extend the dimensions of the prospect both vertically and laterally, according to Moag's statement.
Shares of Moag skyrocketed 200 percent to 18 Canadian cents on the Canadian Securities Exchange on Tuesday.