Which stock has announced a resource discovery?
Monger Gold Ltd (ASX:MMG) is pleased to announce that assays from three diamond drill holes completed at the Providence Prospect, Monger North, have returned significant gold results. Gold assay intervals have returned significant results including 1m @ 19.19g/t from 99m, 8m @ 4.34 g/t from 123m, 7m @ 2.15 g/t from 65m and 5m @ 2.11 g/t from 108m.
Following the announcement, shares in Monger Gold Ltd traded 4% higher at $0.39/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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