Shares of Black Canyon (ASX:BCA) experienced a significant increase, rising as much as 11.11% to A$0.150, indicating their best performance day since September 8, if the gains persist.

This surge follows the announcement of drill results confirming shallow manganese enriched shales at KR2 Prospect within the Balfour Manganese Field in the Pilbara region of Western Australia.

Approximately 25,000 shares exchanged hands, compared to the 30-day average volume of 24,309 shares.

However, despite the recent spike, Black Canyon’s stock is still down around 44% for the current year, as reported after the last closing.

Black Canyon is a mining and metal company based in Australia.