Askari Metals (ASX:AS2) has made an announcement about a key resource.
Following the announcement shares of Askari Metals rose 6.756% to $0.395.
Askari Metals, an Australian based exploration company with a portfolio of battery metals (Li+Cu) and precious metals (Au+Ag) projects across Western Australia, Northern Territory and New South Wales, is pleased to announce that the Company has completed a high-definition drone magnetic survey at the Company's 100% owned Callawa Copper Project (E45/5842), located approximately 90km north-east of Marble Bar in the east of Pilbara of WA.
This part of WA has a reputation as "elephant country", having produced the Telfer gold mine, the Nifty copper mine and more recently, Rio Tinto's 500 million tonne Winu copper discovery, which is rated as one of the world's most significant copper discoveries of the past decade.
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.