Mining companies observed an elevated week of share price movement across a suite of small and large resources businesses on the Australian Securities Exchange (ASX) yesterday (11 September).
One company that saw a spike in its share price is Zenith Minerals (ASX:ZNC), jumping 108.33% in value after returning its inaugural results from the 2025 drilling program at the Red Mountain Project in Queensland.
Now trading at $0.125 per share with a market capitalisation of $31.76 million, Zenith returned its highest assay of 139.4m @ 1.05 grams per tonne gold from hole ZRMDD064.
Managing Director Andrew Smith says the assays returned are what the company “had hoped for”.
“With a strengthening gold price, drilling momentum at Red Mountain, and a 12,000m program about to commence at our flagship Consolidated Dulcie Project, it is an incredibly exciting period for Zenith,” Smith says.
The current drillhole is targeting deeper into the mineralised system, with assays to be combined with the last assay lot to refine the next phase of exploration.
Zenith Minerals is an Australian explorer focused on developing its portfolio of lithium, gold, and base metal assets.
Fortuna Metals (ASX:FUN) has jumped 42.95% to trade at $0.10 per share, after entering a binding agreement to acquire the Mkanda and Kampini projects in Malawi, Africa.
Fortuna will issue 55 million shares and 55 performance shares to shareholders of the holding company, along with a cash payment of $100,000.
The two exploration licences sit adjacent to Sovereign Metals’ (ASX:SVM) Kasiya deposit, which hosts 1,809 million tonnes @ 1% rutile and 1.4% graphite.
The concessions account for an area of 659km2, facing two phases of exploration over the next 12 months.
Altamin (ASX:AZI) is another business whose value has increased sharply after the company advised the market it had agreed terms to take part in an Italian critical metals project, rising 38.09% to a share price of $0.029 per share.
The company was granted $3.62 million from the Italian Ministry of Environment and Energy Security (MASE), through the Mission Innovation 2.0 incentive partnership with RINA SpA (RINA) and the University of L’Aquila.
Located 30km north of Rome in Cesano, the Lazio Project was granted under the Geothermal Brines for Innovative Supply of Critical Raw Material Project.
Funding will be delegated towards conducting a geothermal energy-powered process pathway to obtain commercial-grade sulphate of potash, lithium, and boron.
Altamin is a base and critical minerals explorer focused on its portfolio of assets in Italy.
On the decline, Mantle Minerals (ASX:MTL) has fallen 25% to a share price of $0.001, with no recent news to reflect the change.
At the start of the month, the company announced its intention to conduct a capital return to shareholders at this share price.
As reported by Mining.com.au, Mantle recently sold its wholly owned subsidiary Mt Roe Mining to Northern Star Resources (ASX:NST).
At the same share price as Mantle, Surefire Resources (ASX:SRN) has also dropped 25%, two days after identifying an electromagnetic conductor at the Copper Hill prospect within the Yidby Project.
Surefire Resources is a Perth-based mineral explorer holding licenses over vanadium, magnetite, and gold assets in Western Australia.
Finally, Javelin Minerals (ASX:JAV) has fallen 16.66% to a trading price of $0.002 per share, with no news over the past month.
Javelin Minerals is a brownfields explorer focused on gold projects in the Eastern Goldfields region of Western Australia.
Write to Maddison Elliott at Mining.com.au
Images: Zenith Minerals
