Gascoyne Resources Ltd (ASX: GCY) announced excellent exploration results at its Dalgaranga Gold Project.
Gascoyne Resources Ltd (ASX: GCY) has announced that its near-mine exploration strategy at the 100%-owned Dalgaranga Gold Project in Western Australia is continuing to gather momentum, with significant new results received across multiple existing and emerging prospects. The company has received further spectacular assay results from the significant zone of gold mineralisation discovered immediately north of the Gilbey’s open pit, main ore source, along with further high-grade results outside the current Mineral Resource envelope at the active Plymouth Open Pit and exciting first-pass results from the Lindville prospect, 8km north of the Dalgaranga plant.
Following the announcement, shares in Gascoyne Resources Ltd rose 1.45% to $0.35/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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