Anson Resources (ASX:ASN) has made an announcement about a key resource.
Following the announcement shares of Anson Resources fell 7.142% to $0.390.
Anson Resources is pleased to announce that its resource definition at the Cane Creek 32-1 well has been completed at the Paradox Lithium Project in Utah, USA (the Project), and that initial assay results have confirmed the Project's further resource expansion potential.
Drilling at Cane Creek successfully targeted additional Clastic Zones 43, 45, 47, 49 and 51, and the Mississippian units approximately 500m below the clastic zones.
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.