AuKing Mining Ltd (ASX:AKN) is pleased to advise that it has received further assay results from three drill holes as part of the initial drilling program at Koongie Park. The most recent assay results representing near-surface and deeper drilling at Sandiego and results included the discovery of new near-surface ore grade copper mineralisation approximately 700m north of known Sandiego deposit. Further high-grade copper zones intersected at Sandiego, extending known mineralisation at depth.
Following the announcement, shares in AuKing Mining Ltd fell 3.12% to $0.16/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.