Dreadnought Resources Ltd (ASX: DRE) has announced further high-grade copper, zinc, silver, gold and cobalt from its Orion discovery.
Dreadnought Resources Ltd (ASX: DRE) is pleased to announce assay results from all holes drilled at Orion and other targets in the Tarraji-Yampi Project located in the West Kimberley region of Western Australia. Drilling results have confirmed Orion has a high-grade copper (up to 12.5%), silver (up to 192.0g/t), gold (up to 34.2g/t), cobalt (up to 1.66%) and zinc (up to 4.3%) massive sulphide discovery with mineralisation commencing from just 1m under cover, extending to at least 240m along strike and 150m down dip.
Following the announcement, shares in Dreadnought Resources Ltd fell 6.38% to $0.044/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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