Shares of Resource Base (ASX:RBX) experienced a substantial increase of up to 21.4%, reaching A$0.170, the highest level seen since the end of August.

The significant increase came after the mineral exploration company announced an abundant number of outcropping pegmatites at its projects in Quebec, Canada, named Wali and Ernst Lake.

Indications suggest that these pegmatites may contain lithium.

The company’s stock has experienced an upwards trend overall, with an increase of 64.7% year to date as of the most recent market closure.

Resource Base (ASX:RBX) is a mineral exploration company primarily engaged in lithium discovery and extraction projects.