Ark Mines (ASX:AHK) has made an announcement about a key resource.

Following the announcement shares of Ark Mines fell 3.448% to $0.280.

Ark Mines is pleased to announce that it has received assay results back from NAL Laboratories, for the second phase of drilling at the Company?s highly prospective nickel cobalt Gunnawarra EPM in North Queensland.

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.