Siren Gold Ltd (ASX: SNG) announced a new 3km zone discovered at St George
Siren Gold Ltd (ASX: SNG) announced a new 3km long arsenic anomaly extends from Golden Hill to 1.5kms south of the St George mine and its open to the south. The gold soil geochemistry generally mirrors the arsenic anomalies for results received to date.
Following the announcement, shares in Siren Gold Ltd traded flat following the announcement.
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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