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Australian Gold and Copper Ltd (ASX: AGC) announced strong first pass gold result

Australian Gold and Copper Ltd (ASX: AGC) is pleased to provide strong first pass gold results from fourteen of fifteen RC holes (1560m) drilled across three anomalous areas at the Boxdale target within the 15km Boxdale-Carlisle Reefs gold trend at the Moorefield Project in central NSW.

Following the announcement, shares in Australian Gold and Copper Ltd fell 4.26% to $0.09/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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