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Mamba Exploration Ltd (ASX: M24) announced shallow gold intersected at Calyerup Creek

Mamba Exploration Ltd (ASX: M24) is pleased to announce that the follow-up drilling at the Calyerup Creek Project in the Great Southern of Western Australia has intersected shallow high-grade gold mineralisation.

Following the announcement, shares in Mamba Exploration Ltd rose 9.09% to $0.18/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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