Shares of Strickland Metals (ASX:STK) rose as much as 7.3% to A$0.074, their highest value since May 2022.

After the mining and mineral exploration company announced that its new Konik prospect had intersected wide, high-grade gold near the surface at its Yandal gold project in Western Australia, an increased level of trading was observed.

Approximately 5.2 million shares were exchanged, compared with the 30-day average volume of 2.9 million.

As of the last closing, the stock had risen 72.5% year-to-date.

Strickland Metals is a company specialized in mineral exploration, with a particular focus on the discovery and development of gold resources.