Katoro Gold PLC (AIM:KAT) soared after it told investors it has expanded its Iva lithium project, in Ontario, which now spans 1,130 hectares, up from 640 hectares.
The explorer said the expansion area includes an inferred 5.5 kilometre pegmatite trend that’s prospective for lithium mineralisation, and, altogether the number of known and inferred pegmatites has now doubled as a result.
“From a strategic perspective, this is an excellent location to make a lithium discovery at an economic scale and grade,” chief executive Patrick Cullen said.
In London, Katoro shares jumped 32% to 0.06p which values the nano-cap firm at around £1.3 million.