St George Mining (ASX:SGQ) received a Price and Volume Query from the ASX this afternoon after the company's shares hit $0.105 intra-day, which is more than 16% higher than $0.088 at yesterday's close.
Late in the trading day, around 4.7 million shares have changed hands.
The company said that it is not aware of any information to explain the recent trading.
St George is currently undertaking a highly prospective drilling program at its wholly-owned East Laverton Property in Western Australia.
Last week the company intersected anomalous nickel and zinc associated with sulphides within a thick ultramafic unit with its first hole targeting electromagnetic conductors.
In a response to the ASX query, St George said:
"The company is drilling at least seven targets including very strong electromagnetic conductors that are prospective for massive nickel sulphide deposits.
"We believe that each of these targets has the potential to deliver significant exploration success.
"The discovery of a massive nickel sulphide deposit would likely result in a substantial re‐rating of the company's share price, and we believe our drilling campaign is receiving widespread attention from a range of investors."
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