Shares of Galileo Mining (ASX:GAL) have seen a significant increase, rising as much as 18.6% to A$0.350 and reaching their highest value since the 6th of September.

The stock is currently up by approximately 17%, making it on track for its best day since June 9.

This surge follows the specialty mining company’s announcement of the discovery of high-grade ores for gold, nickel, and copper at its onshore mine location in Western Australia.

Today, 350,749 shares have changed hands, which is 1.2 times the 30-day average volume of 287,388 shares.

Notably, despite today’s gains, the stock has fallen by 65.6% this year as of its last close.

Galileo Mining is a specialty mining company focused on the exploration and development of gold, nickel, and copper ores.