Sayona Mining Ltd (ASX:SYA) announced the discovery of a new lithium pegmatite zone
Sayona Mining Ltd (ASX:SYA) is pleased to announce the receipt of positive drilling results from its Moblan Lithium Project in northern Quebec, with the discovery of a new southern lithium pegmatite zone near the main Moblan deposit. Sayona has a 60% interest in this area.
Following the announcement, shares in Sayona Mining Ltd traded 3.61% lower at $0.35/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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