RareX Ltd (ASX: REE) has intersected a significant high-grade zone of primary phosphate mineralisation.
RareX Ltd (ASX: REE) announced that it has intersected a significant high-grade zone of primary phosphate mineralisation immediately north of the main rare earths zone at its flagship 100%-owned Cummins Range Rare Earths Project in the Kimberley region of WA.
Following the announcement, shares in RareX Ltd rose 4.55% to $0.12/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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