Alkane Resources (ASX:ALK) has made an announcement about a key resource.

Following the announcement shares of Alkane Resources rose 1.587% to $0.640.

Alkane Resources is pleased to announce further results from its drilling program at the Company?s Northern Molong Porphyry Project in Central New South Wales. The program extends over three kilometres from Kaiser, through Korridor and Boda, down to Boda Two and Boda Three.

The Company believes this system has the potential to be a large, tier one gold-copper project.

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.