Shares of ABX Group (ASX:ABX) soar by an impressive 16.3%, reaching A$0.093 - their apex level since September 11.

The prominent boost is the result of the mineral explorer sourcing high-grade total rare earth oxide (TREO) in their Rubble Mound project located in Northern Tasmania.

In fact, this TREO discovery is found to be four times richer than their previously highest-grade find in the same project.

The company also reported the sourcing of high-grade, coveted rare earth elements, dysprosium and terbium, within the project.

The next round of drilling for the project is scheduled to launch in late October.

Despite the substantial intraday jump, ABX Group has recorded a 30.4% decrease Year-To-Date as of the most recent close.

ABX Group is a mineral exploration company focused on discovering high-grade mineral sources.