Shares of mineral explorer, Ragusa Minerals (ASX:RAS), have surged 12.5% to A$0.036.

This significant uptick marked the company’s largest intraday gain since September 28.

The stock rallied on the back of updates for multiple projects, including the Northern Territory (NT) Lithium project, the Burracoppin REE & Kaolin/Halloysite Project, and newly identified lithium prospects in Canada.

The company revealed plans to initiate reverse calculation drilling works at their NT Lithium Project in Central Australia beginning October 15.

Furthermore, they released promising test-work results that confirmed a high-grade rare earth content in their Burracoppin REE & Kaolin/Halloysite Project situated in Western Australia.

Despite today’s rise, Ragusa Minerals’s stock has still seen a decline of 72.2% year-to-date.

Up to 421,818 shares were traded today, surpassing the company’s 30-day average trading volume of 298,236.

Ragusa Minerals is an Australian company focused on the exploration of various minerals.