** Shares of Meteoric Resources NL MEI.AX rise 29% to A$0.089, their highest level since January 22

** Stock is the top gainer on the ASX All Ordinaries Index

** Rare earth exploration co identifies high-grade rare earths at its Caldeira Rare Earth Element Ionic Clay project in Brazil

** Stock set for its strongest session since February 1, 2023 - if current trends hold

** About 23 mln shares change hands, 2.9x the 30-day average of 8 mln shares

** Stock up 4.7% YTD, including current session's moves

(Reporting by Manasi Dasa in Bengaluru)

((Manasi.DasaSundeep@thomsonreuters.com;))