American West Metals Ltd (ASX: AW1) announced strong gravity results as drilling begins at West Desert deposit.
American West Metals Ltd (ASX: AW1) is pleased to announce the results of the recent gravity survey that was completed over the West Desert Project in Utah. The gravity was the first of its type completed over the West Desert Project area and was designed to image the known deposit. Significantly, the West Desert Deposit presents as a distinct gravity anomaly in the data, with multiple other similar anomalies – in areas with little to no drilling – also recorded in the survey data.
Historical drilling indicates potential association of gravity anomalies with high-grade zinc-copper-lead mineralisation.
Following the announcement, shares in American West Metals Ltd fell 2.31% to $0.13/share.
When a mining company announces a new resource discovery it’s exciting times for shareholders.
A lot of capital goes into exploration and when a new deposit is found there’s usually a share price boost.
Discovery is the reward stage for investors, particularly of junior mining stocks, searching for undiscovered deposits of natural resources.
When discussing new resource discoveries it’s beneficial to know the difference between greenfield and brown exploration.
Greenfield exploration is looking for mineral deposits in areas that have not been explored.
In brownfield exploration deposits are being sought near or next to an already existing mine.
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