Sirius stock continues to soar

Sirius Resources share price has risen a further 9 per cent this morning as the market responds to yet more positive news from the company's Nova nickel and copper discovery.

Its stocks had reached a high of $2.20 per share by 12:32PM WST.

The rise is a continuation of a jump in the share price which began on Friday when shares opened at $1.59 apiece; 38 per cent lower than the current value.

The positive activity comes alongside further positive drilling results from the company’s Nova nickel and copper sulphide deposit in the eastern Goldfields, which saw the share price soar almost 700 per cent on the day the discovery was announced.

In an announcement to the ASX today Sirius said drilling had extended the known mineralisation by a further 50 metres.

The maximum thickness of the mineralisation has now reached 36.5 metres to a depth of 250 metres.

Today’s announcement follows positive drill results announced on Monday. That announcement also noted assay results had found the mineralisation to hold 3.16 per cent nickel and 0.49 per cent copper.

The timing of Sirius announcements have come into question, however, as increased interest in the company began late last week, before the announcements were made public.

In responding to queries from the ASX Sirius said no other information had become available aside from the drilling results announced.

However, it said there had been increased investor and media interest in the company since the initial announcement of the discovery on July 26.