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Industrial Minerals Ltd (ASX: IND) announced further high grade silica sand results

Industrial Minerals Ltd (ASX: IND) has announced the results of exploration activities undertaken at the Stockyard Project, with assay results now returned from most of the drilling undertaken in 2021. The latest round of auger drilling completed at the Stockyard Project has identified and extended multiple large areas of high purity silica sand (HPSS).

Following the announcement, shares in Industrial Minerals Ltd rose 10% to $0.22/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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