Strategic Minerals Corporation (ASX: SMC) has received an ASX price query speeding ticket after the company's shares hit $0.043 intra-day today, a 48% gain on the $0.029 from Wednesday 31 August.
Strategic Minerals responded to the ASX that the company is not aware of any material information that has not been disclosed which may explain the sudden investor interest.
The company did however mention the Woolgar Gold Project where drilling has recently started, after the company completed fully underwritten entitlement issue which raised around $3.5 million.
Drilling at Woolgar will comprise a three stage reverse circulation program for 2850 metres, designed to build upon the drilling undertaken in 2010 on the Big Vein, Big Vein No 2 and Big Vein South prospects, with a primary emphasis upon infill and extension drilling.
Woolgar is located 120 kilometres north of Richmond in north Queensland, with the company's tenements covering 700 square kilometres, with all mining titles and exploration permits are wholly owned and managed by Strategic.