Shares of Alderan Resources (ASX:AL8) increased by as much as 75% to A$0.014, potentially marking their best day since June 3, 2020, if the gains hold.

The gold mining company has announced that it is set to acquire seven lithium exploration projects in Brazil.

These projects comprise 24 granted exploration licenses that cover a vast area of 472 square kilometers within Brazil’s Eastern Lithium Belt.

The company’s stock achieved its highest level since July 11, 2022.

Roughly 28.8 million shares were exchanged, a significant surge compared to the 30-day average volume of 622,136.

The company’s stock has seen an uptick of 14.3% YTD, calculated till its last closing.

Alderan Resources (ASX:AL8) is a renowned gold mining company that now ventures into lithium exploration projects in Brazil.