Alchemy Resources (ASX:ALY) has made an announcement about a key resource.

Following the announcement shares of Alchemy Resources rose 9.523% to $0.023.

Alchemy Resources is pleased to announce it has received assay results for its infill soil sampling at the 100% owned Karonie Project in Western Australia.

A total of 793 infil soil samples were taken over three target areas on a 100m x 40m offset grid pattern along the prospective :Goldilocks Trend" along a strike length of over 7km.

Results show coherent and coincident lithium, beryllium, niobium, tin, tantalum and rubidium across the three areas.

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.