Kin Mining NL (ASX: KIN) announced outstanding high-grade results in Mt Flora diamond drilling.
Kin Mining NL (ASX: KIN) is pleased to report that assay results from the first deep diamond hole project completed at the Mount Flora Project, located 20km east of its 100%-owned 1.28Moz Cardinia Gold Project (CGP) near Leonora in WA, have successfully extended the high-grade mineralisation at depth and revealed a new zone of mineralisation.
Following the announcement, shares in Kin Mining NL traded 1.82% higher at $0.11/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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