** Marquee Resources jumps as much as 16.7% to A$0.021, last up 5.6%

** Australian metals explorer says it has observed rare-earth element mineralization in multiple drill holes at its Redlings Rare Earth Elements project in Western Australia

** Over 5 mln shares traded, 2.1x the 30-day average

** MQR loses ~27% YTD, while ASX 300 Metals & Mining sub-index down ~16%

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com;))