Metals Australia (ASX:MLS) shares have surged 175% to an intraday high yesterday of $0.011, from $0.004 in early August.
Shares last traded at $0.009.
MLS has predominantly been known as a uranium stock however the recent interest is likely due to its Manindi zinc-copper project in Western Australia.
The Manindi zinc project is a significant base metal resource located in the Murchison District of Western Australia, 20 kilometres southwest of the defunct Youanmi gold mine.
The project has the potential to yield new copper and nickel mineralisation in addition to the existing zinc-copper resources at the project.
In April 2013, Sirius Resources' (ASX:SIR) released a series of positive announcements from its Inky copper-nickel Prospect.
The Inky prospect is located just 2 kilometres south of MLS' Wombat copper-nickel soil and VTEM anomalies at Manindi.
Metals has identified seven untested geophysical anomalies adjacent to the known mineralisation at Manindi which constitute a number of attractive drill targets for copper-zinc and copper-nickel mineralisation.
The Manindi base metal deposit is a volcanogenic massive sulphide zinc deposit, comprising a series of lenses of mineralisation that have been folded, sheared, faulted, and possibly intruded by later dolerites and gabbros.
In 2008, MLS delineated a resource of 1.354 million tonnes at 6.04% zinc, 0.25% copper, 3.4 g/t silver & 0.25 g/t gold.
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