Mutiny spikes on spectacular drilling

Mutiny Gold shares have soared after it announced that successful exploration programs at its flagship Deflector gold project in the Murchison had resulted in it doubling its initial production estimates.

The Perth-based gold junior said it would expand its feasibility studies to incorporate a re-assessment of the Deflector project, which could support production of 100,000 to 120,000 ounces per year once it is fully operational.

Mutiny had previously forecast production of 50,000 ounces per year from Deflector.

Managing director John Grieve said the increase in production should provide significant increases in forecast annual profits.

"The doubling of production at Deflector will allow Mutiny to unlock significant value for our shareholders," Mr Grieve said.

At 1:50PM(WST) Mutiny's stock was up 19 per cent to 12.5 cents.