Ardea Resources Ltd (ASX:ARL) has announced re-assay of historic Kalpini Nickel Project drill pulps has confirmed very high-grade historical nickel-cobalt intercepts and identified previously undocumented but significant scandium credits. Additionally, significant Rare Earth Element (REE) and Rare Metal (RM) grades were indicated within the historic nickel-cobalt laterite mineralisation.
Following the announcement, shares in Ardea Resources Ltd traded 2.44% higher at $0.84/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.