Aruma Resources (ASX:AAJ) has made an announcement about a key resource.

Following the announcement shares of Aruma Resources fell 12.307% to $0.057.

Aruma Resources is pleased to announce results of its recently completed maiden drilling program at the Melrose Gold Project in the Pilbara region of Western Australia.

Aruma completed a 48 hole 4,784m reverse circulation (RC) drilling program at the Melrose Project (ASX announcement, 7 November 2022), which targeted the Gossan Hill prospect located 5km from the Paulsens Gold Mine (acquired by Black Cat Syndicate (ASX: BC8) from Northern Star Resources (ASX: NST)).

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.