HUN.L Share News (HUN)

Shares in Hunter Resources shot up 40% on Friday after the company said it has lodged applications for additional tenements covering 5,000 hectares to the north west of the Pampamali Project, to be named the Prospero Project.The application has been accepted and the tenements will be owned 100% by Hunter's wholly owned subsidiary, Gold Hunter SAC.Prospero is close to, and along strike from the Pampamali Project and could potentially share future facilities and infrastructure, the company said.Preliminary mapping of the Prospero Project by the company's technical team has identified prospective geological structures and quartz veining with associated hydrothermal activity and breccias.Hunter said it plans to commence geological mapping and sampling with a view to defining drillable targets over the next few months.Executive chairman Simont Hunt said: "The acquisition by the Company of the Prospero Project approximately doubles the size of the Company's concessions in the area and provides new and excellent geological targets over ground not previously subject to modern geological exploration."At 13:14, shares were up 40.1% at 0.60p.