Strategic Elements Ltd. shares were up almost 22% by Oct. 11 trading close on the ASX after the company said it found large gravity anomalies in remote Western Australian deserts within two large multi-ringed magnetic ring features.

The company said Oct. 11 that it plans to conduct exploration through induced polarization geophysical surveys for sulfide minerals, which can be associated with very large deposits of nickel, copper, platinum group elements and gold.

Strategic Elements it will disclose further information on the scope and aims of the survey over the next 10 days.