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Monto Minerals motors, shares rally 87%


Monto Minerals (ASX: MOO) has witnessed an 87.5% share price increase to an intra-day high of A$0.015 today, up from yesterday’s closing price of $0.008.

This sudden increase has prompted the ASX to issue a price and volume query, with around 11.7 million shares traded by early afternoon.

Monto responded to the ASX query saying it is not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.

In recent weeks the company has discovered several major tin anomalies at its Heberton Project in Queensland, where it owns the vast majority of high quality tin prospects in the northern Herberton Tin Field.

Soil and rock chip sampling have identified two large high grade tin anomalies within granite that have returned rock chip grades up to 6.97% tin, as well as an additional soil tin anomaly extending 1 kilometre north of the Mount Tin mine.

Laboratory analysis of samples collected from the Mount Tin waste rock dump has revealed high tin grades including 4.64% tin, 2.34% tin and 1.33% tin.

The tin mineralisation is associated with both vein material and host granite, vastly improving the tonnage potential of these outcropping targets.

A fourth tin anomaly has also been identified within metasediments known to host the majority of high grade historic mines in the area, with rock chips confirming a hard rock tin source.

Further work to refine these targets is underway, along with the interpretation of latest soil results and development of targets identified through digitisation of historic drilling across the Herberton Tin Field.

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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