Torian (ASX:TNR) share price zooms over 20% on Yttrium discovery

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Torian (ASX:TNR) share price zooms over 20% on Yttrium discovery

Torian Resources Limited, ASX:TNR, materials company, metal & mining stocks, ASX
Image source: © CambrianImaging | Megapixl.com

Highlights 

  • TNR share price has gained over 20% on ASX today.
  • Torian Resources has discovered Yttrium anomalies at Mt Stirling.
  • Yttrium is an alloy additive that boosts strength, used in microwave filters and even radars.

Small-cap gold and other minerals explorer company, Torian Resources Limited, (ASX:TNR), shares have gained over 22% on ASX today. The sudden buying interest on ASX is visible after TNR announced discovery of Yttrium at Mt Stirling Central. Post the ASX announcement, TNR share price has zoomed to its’ monthly high, trading at AU$0.027each, as at 3:45 PM AEDT.

How will Yttrium discovery benefit Torian Resources?

  • Torian Resources Limited has confirmed surface anomalies of Yttrium at its Mt Stirling Central project in Western Australia. According to Torian Resources, Yttrium presence is a key indicator of potential presence of rare earth minerals.
  • In its ongoing exploration activities at the Mt Stirling Central project, Torian has drilled 151 Auger holes systematically and the reconnaissance fieldwork has confirmed the presence of prospective outcrops, for rare earth minerals. Torian being majorly a gold explorer found the presence of Yttrium through portable X-ray fluorescence (pXRF) processing being undertaken for gold exploration.

  • TNR has already sent the Auger drilling samples for multi-element assays and expects lab results in two weeks. If lab results are favourable, TNR will potentially expand its Mt Stirling project plans with a rare earths project addition.

The Yttrium discovery is in addition to the 5 high priority gold targets discovered earlier which have been confirmed as primary gold targets.

Bottom line-

Mt Stirling project is the flagship project of Torian Resources and discovery of Yttrium has potentially expanded the project scope. As a result, TNR share price has taken a 20% leap on ASX today.

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