Gorilla Gold Mines' (ASX:GG8) share price is driven by exploration success at its Lakeview prospect, part of the Comet Vale project in Western Australia, according to a Monday note by Euroz Hartleys.

On Monday, the company said reverse circulation drilling at the prospect, intersected a parallel structure containing high-grade gold mineralization on a newly identified parallel structure.

The drilling returned an intercept of 12 meters at 9.2 grams per tonne grade of gold from 60 meters, Euroz noted.

Euroz says the discovery reinforces its view that the company has one of the most compelling exploration programs among Australian Exchange-listed explorers.

The firm added that the drilling at Lakeview represents an advancement in both the scale and economic potential of the project, and believes it has largely justified the company's current valuation.

Euroz maintained Gorilla Gold Mines' speculative buy rating and its price target of AU$0.75.