Drill results in Manitoba have increased the strike length of the deposit to 1,000 metres and hit mineralization at depths of approximately 800 metres.

It had highlighted growth opportunities based on a preliminary economic assessment for the historic Waihi district.

Midday Tuesday, the company’s stock was up 15% on the TSXV.

Kennecott has completed all four holes in the program which is designed to test the possible continuity of mineralisation between the Cactus and Comet Cu-Au prospects.

The consortium’s goal is to install a pilot plant at a Jeddo Coal Company site in Pennsylvania capable of producing 1-3 tonnes of rare earth oxides from coal byproducts.

To date, over 80% of the holes drilled into the LP fault, Dixie Limb and Hinge zones returned visible gold, with the mineralization in the form of free gold, and not bound to or within sulphides.

The section includes higher-grade intervals, such as 1.2 metres of 182 g/t silver and 5.46 g/t gold (7.99 g/t gold-equivalent).