Premier African Minerals Limited (LON:PREM) was in demand on Friday morning after the mining and exploration group gave a bullish update on Casa Mining, in which it holds a 4.5% stake.
Casa is currently carrying out a 5,000 metre (m) drill programme at its Akyanga gold deposit in Democratic Republic of Congo as it looks to increase and upgrade the existing mineral resource estimate.
Eight holes totalling 1,920m have been completed so far, with one hole intersecting 24.8m at 8.04 grams per tonne (g/t) of gold (Au) from 201m, including 5.4m at 22.6 g/t Au.
Casa added that the deposit remains open in all directions.
"These results are extremely encouraging and again confirm the continuity as well as high-grade potential in the southern part of the Akyanga Deposit where these holes were drilled,” said Premier chief executive George Roach.
Roach added that further developments are due over the coming weeks.
Premier shares jumped 8.2% to 0.35p on Friday morning.