Cannon Resources Ltd (ASX: CNR) has announced drill results confirm extended nickel mineralisation at Camelwood
Cannon Resources Ltd (ASX: CNR) is pleased to announce that it has received assay results from 5 Camelwood holes from the recent 2021 diamond drilling campaign at the Company’s flagship Fisher East Nickel Project. The latest drilling confirms that mineralisation along the southern margin of the Camelwood resource remains open and extension to the south is the most prospective zone for further drilling and resource growth.
Following the announcement, shares in Cannon Resources Ltd fell 1.11% to $0.44/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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