Aruma Resources (ASX:AAJ) has made an announcement about a key resource.
Following the announcement shares of Aruma Resources rose 10.256% to $0.086.
Aruma Resources is pleased to announce first assay results from its recently completed drilling program at the Mt Deans Lithium-Rubidium Project near Norseman, in the lithium corridor of south-eastern Western Australia.
Broad spaced drilling and surface sampling by Aruma has identified a thick vertical sequence of lithium and high-grade rubidium bearing pegmatites over a strike length of about 1.5 kilometres.
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.