02:09 PM EDT, 04/02/2024 (MT Newswires) -- Golden Minerals ( AUMN ) shares were last seen up 11% after the company on Tuesday reported "highly encouraging" results from recent lithium exploration activity at the Southern Cross North project in Western Australia.

The company said exploration at Golden Horse has identified new lithium targets with multiple elevated lithium soil anomalies at its Ennuin North prospect. The soil geochemistry also produced significant gold anomalism at the Scorpio prospect at Ennuin North, the company added.

A review of the historic cores from Trough Well confirmed fractionated pegmatites. A review of existing geophysical data identified multiple new lithium target areas requiring field validation.

Further, the company said infill soil sampling will begin soon to better define future drill targets.

The company's shares were last seen up C$0.06 to C$0.62 on the Toronto Stock Exchange

Price: 0.62, Change: +0.06, Percent Change: +10.71