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Kalamazoo Resources Ltd (ASX: KZR) announced the discovery of lithium-mineralised pegmatites at Marble Bar

Kalamazoo Resources Ltd (ASX: KZR) has announced an update on early-stage field reconnaissance activities at its Marble Bar Lithium Project, as well as providing details of two new recently granted Pilbara lithium exploration licences.

Initial field reconnaissance of the significant portable XRF soil anomalies recently reported at the Marble Bar Lithium Project has discovered numerous outcrops of pegmatite dykes.

The two new highly prospective exploration licences add to Kalamazoo’s already significant Pilbara lithium exploration tenure ground holding which now totals 354.4㎢.

Following the announcement, shares in Industrial Kalamazoo Resources Ltd jumped 5.71% to $0.37/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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