Lindian Resources (ASX: LIN) has jumped onto the investor radar today with a new porphyry style copper mineralisation discovery in the Philippines, with the company's shares trading 21% higher in intra-day trade.
The discovery was made at the Layab prospect on the east coast of the Masapelid Project, with the highlight 174 metres at 0.22% copper and 0.50g/t silver from 2 metres.
This very broad intersection hosted the higher grade segments of; 19.00 metres 1.91g/t silver and 0.16g/t gold; and 70.00 metres from 43.00 metres at 0.24% copper, 0.36g/t silver and 0.06g/t gold.
Adding some spice to the announcement is that assays are still pending for a scissor hole.
Lindian added that the low-grade nature of copper and precious metals in the near surface environment is usual in island arc settings where there is typically acid leaching of copper, and other metals, with the company considering the results highly significant.