St Barbara up on gold strike

Shares in St Barbara Ltd closed 10.7 per cent higher today at 31 cents after the company reported a high grade gold discovery near its Marvel Loch operations in WA's Goldfields region.

The company said the discovery at Jaccoletti, 1.5 kilometres from Marvel Loch processing facility, has potential for underground development.

Jaccoletti has been mined historically as both an open pit and underground operation.

Total historic production was about 900,000 ounces of gold.