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Shares in Sirius Resources surged after the company reported further drilling had extended the limits of its Nova nickel-copper deposit to the north, east and south.

"Step out drilling aimed at defining the ultimate limits of the deposit will continue in parallel with the infill drilling, which continues to be in line with expectations," the company said in a statement.

Sirius shares were up 17 cents, or 8.29 per cent, to $2.22 at 8.25am after hitting an earlier peak of $2.30.