The Pensana (ASX:PM8) share price shot up 14% higher today. Here’s why

The Pensana Rare Earths PLC (ASX: PM8) share price is soaring this morning, up 11.2% at $1.34 after shooting up 14% in early trade.

This follows the company reporting positive results from its rare earths Coola Project in Angola.

What’s sending the Pensana share price flying?

In today’s ASX announcement, Pensana reported that soils from its first sampling programs at its Coola Project contained high grade rare earths. The 7,500sq km project is located just 16km north of the company’s flagship Longonjo Project.

Pensana’s assay results from soil sampling over the Coola carbonatite identified a high tenor soil anomaly up to 4.7% rare earth elements (REO), which extend over a 1.3km by 1.4km area.

Further assay results from…