-- Austral Resources Australia (ASX:AR1) said initial drilling at the Snow Queen prospect, part of the Cameron River project in Queensland, encountered a high-grade copper intersection, according to a Wednesday Australian bourse filing.
This included an intercept of 10 meters at 7.5% grade of copper from 35 meters, confirming the presence of high-grade mineralization, per the filing.
The company's shares rose past 9% in recent trading on Wednesday.