Aeris Resources (ASX:AIS) has made an announcement about a key resource.
Following the announcement shares of Aeris Resources rose 4.395% to $0.475.
Aeris Resources is pleased to provide an update on an underground exploration drill hole completed at the Murrawombie deposit, located within the Company's 100% owned Tritton tenement package in New South Wales.
Aeris' Executive Chairman, Andre Labuschagne, said "Thesse latest drilling results continue to demonstrate the prospectivity to find more copper on the Tritton tenement package. The mineralisation intersected down plunge from the Murrawombie deposit has the potential to significantly extend the life of the Murrawombie underground.
We will be prioritising downhole EM surveying on the hole and planning follow up drilling.
When a mining company releases an update about a key resource 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.