Western Gold Resources Ltd (ASX: WGR) has announced visible copper discovered at the Brilliant prospect
Western Gold Resources Ltd (ASX: WGR) has announced visible copper has been discovered in RC drilling at the Brilliant prospect. The Brilliant drilling program is WGR’s first drilling program within the Brilliant Shear Zone, host to the Brilliant and North Brilliant mines that produced 7850 tonnes @ 14.27g/t Au in the 1920’s. WGR Managing Director Warren Thorne said ‘we are highly encouraged to have discovered visible Copper mineralisation with our first holes at the Brilliant prospect, but more importantly the recent drilling shows the potential of the Brilliant Shear Zone to host Cu-Au mineralisation along its 5km strike length.
Following the announcement, shares in Western Gold Resources Ltd jumped 3.85% to $0.14/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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