Shares of Black Canyon (ASX:BCA) have seen an upward movement of as much as 14.8%, hitting A$0.155.

This marks the most substantial intraday gain that the firm has recorded since July 18.

The positive shift is due to the company’s successful drilling program which has confirmed a widespread presence of manganese mineralisation at the Balfour Mineral Field, located in the Pilbara region of Western Australia.

With this development, the company’s stock reached its highest level since August 3.

Black Canyon, which is a manganese, copper and cobalt explorer, anticipates the initial assay results related to this find over the upcoming weeks.

Despite the recent gains, it’s worth noting that the company’s stock has slumped 43.8% this year, as of the last closing.Black Canyon is a company involved in the exploration of manganese, copper and cobalt.