Accent – which has an 80% stake at Mt Gibson – saw its stocks rise 13.5c (54%) to reach 38.5c a share in today's trading. By the afternoon the company's stocks had cooled to 33c a share.
While other Mid-West region companies spent today in discussion over development plans at the Oakajee port, Accent and its 20% joint venture partner Mawson West released assay results with grades of up to 36.3% magnetite.
Results from the approximately 5000 metre drilling program included magnetite iron ore finds of 28m at 36.3% iron from 32m, 52m at 35.2m at 52% from 20m and 70m at 34.7% from 44m.
Accent put its conceptual exploration target at Magnetite Range at between 300 million and 500 million tonnes of magnetite banded iron formation.
The Magnetite Range is immediately adjacent to the Extension Hill magnetite project owned by Mount Gibson Iron and Asia Iron Holdings.
Shares in Mawson West rose 1c to 17c a share, before dropping to 14.5c.
Accent shares were last trading at 33c.