PROTO Resources & Investment shares skyrocketed after the explorer announced a significant copper discovery at its Lindeman's Bore project in the Northern Territory.
The Sydney-based company said it hit a 15-metre wide seam containing five per cent visible chalcopyrite, or copper iron sulphide, during drilling at the project 380km southwest of Katherine.
Proto said the drilling validated the company's conceptual geological target for Lindeman's Bore.
Chairman and managing director Andrew Mortimer said the discovery was enormously significant.
Shares in Proto rose 8.5 cents, or 242.86 per cent.
Add a comment