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Athena Resources Ltd (ASX: AHN) has announced the discovery of high-grade graphite seams

Athena Resources Ltd (ASX: AHN) has announced the preliminary results from the Milly Milly Target Areas include the discovery of high-grade graphite seams from successful target drilling of an MLTEM conductor from hole AHRC0096 at Milly Milly within Area 2.

Following the announcement, shares in Athena Resources Ltd rocketed 11.11% to $0.01/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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