Highlights:
- Dundas has shared the latest updates from its exploration at the Central target today.
- As per the update, Dundas has reported massive, semi-massive and highly disseminated sulphides in the drilling hole.
- Backed by this update, Dundas shares were spotted trading over 46% higher at 12:24 PM AEDT on ASX today (11 October 2022).
The share price of Australian mining company Dundas Minerals Limited (ASX:DUN) went up 46.785% to trade at AU$1.027 apiece at 12:24 PM AEDT on ASX today (11 October 2022).
In a year’s time, Dundas’ share price went up significantly by 600% on ASX and on a YTD-basis, the company’s share price gained over 653% on ASX (as of 12:48 PM AEDT today).
Today, Dundas has announced that it has successfully recorded an intercept of a mafic-ultramafic complex, which includes extensive zones of massive, semi-massive, highly disseminated and disseminated sulphides in the first drill hole (22CEDD001) at its Central exploration target.
What is the reason behind Dundas’ share price gain on ASX today?
Today Dundas released a significant update from its latest drilling at the Central exploration target. The company’s share price gained rapidly on ASX today, followed by the release of this update.
In its latest update, Dundas has shared that extensive massive, semi-massive, highly disseminated and disseminated sulphides were intersected from 32m to 423.40m (downhole), and sulphidic quartz veins from 43.5m to 412.1m. A total of 358.37m of sulphides was intercepted, including:

Additionally, the company stated that the geological condition at Central is ‘complex’. The region consists of only one diamond drill hole, which is not sufficiently understood. Nonetheless, Dundas said that it would require assay results to confirm mineralisation and the hole also requires further drilling.