Shares of NickelSearch (ASX:NIS) saw a significant increase, rising as much as 38.5% to A$0.036.

It was the company’s most substantial intraday percentage gain since November 8, 2023.

The increase was due to the nickel explorer announcing the signing of land access agreements with a private landholder and two occupiers at its Carlingup project in Western Australia.

These agreements allow the company to submit an application for its first lithium drill programme at the project.

Approximately 3.7 million shares changed hands, a number significantly higher than the 30-day average volume of nearly 1.2 million shares.

Based on the last closed trading session, the company’s stock is up 64.4% year-to-date.

NickelSearch is an Australian mining company, primarily focused on nickel exploration.