The S&P/ASX 200 Supplies Index (ASX: XMJ) is 0.17% within the inexperienced at this time, however these two ASX mining shares are hovering a lot greater.

The Desert Metals Ltd (ASX: DM1) and Kingfisher Mining Ltd (ASX: KFM) share costs are surging forward at this time.

Let’s check out why these corporations are having such an excellent day.

Kingfisher Mining Ltd

Kingfisher Mining shares are hovering 48% at this time. Buyers are shopping for up Kingfisher shares after the firm reported “distinctive rock chip assay outcomes” from Mick nicely within the Gascoyne area of Western Australia. This included 40% Whole Uncommon Earth Oxides (TREO), 6.4% neodymium oxide (Nd2O3) and praseodymium oxide (Pr6O11). Commenting on the invention, CEO and government director James Farrell stated:

We’re ecstatic with the identification of this new mineralisation, together with the 40.02% TREO pattern from an outcrop which consists virtually solely of huge monazite.

The Desert Metals share worth is surging 25% at this time. This follows an replace on drilling on the firm’s Innouendy Uncommon Earth mission in Western Australia. Drilling is full at greater than 265 aircore holes protecting 10,909 metres and 13 reverse circulation drill holes protecting 1,836 metres.

Preliminary XRF and visible observations present there might be an “intensive, close to floor, uncommon earth system”, the corporate highlighted. Desert Metals famous the clays internet hosting the mineralisation are close to the floor and have intersected as much as 80m thickness.

The samples at the moment are on the lab for additional evaluation.