** Astute Metals ASE.AX soars 18.8% to A$0.038, highest since Jan. 20

** Stock rose as much as 21.9% to A$0.039 earlier in the day, marking the biggest intraday gain since Jan. 20

** Diversified explorer says it has identified new zone of lithium bearing clay-rich rocks at its Red Mountain Lithium Project in Nevada, USA

** Adds, "Identification of new high-grade lithium-bearing unit increases project's potential"

** Around 784,720 shares traded, 2.3x the 30-day avg

** ASE up 35.7% YTD

(Reporting by Jasmeen Ara Shaikh in Bengaluru)

((Jasmeenaraislam.shaikh@thomsonreuters.com))