Gascoyne Resources Ltd (ASX: GCY) announced new further gold discovery at Dalgaranga
Gascoyne Resources Ltd (ASX: GCY) announced further highly encouraging drilling results from the significant zone of gold mineralisation immediately north of the Gilbey’s open pit, the main ore source at its 100%-owned Dalgaranga Gold Project in WA.
Following the announcement, shares in Gascoyne Resources Ltd rose 1.96% to $0.26/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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