Ark Mines (ASX:AHK) applied for a mining lease covering about 406 hectares of its Sandy Mitchell project in Queensland, according to a Tuesday filing with the Australian Securities Exchange.

The application pertains to the acreage based on the recently reported measured resource estimate of 71.8 million tonnes at 1,732.7 parts per million monazite equivalent, the filing said.

Shares of Ark Mines surged 21% in midday trade.

Price (AUD): $0.23, Change: $+0.040, Percent Change: +21.05%