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Bardoc Gold Ltd (ASX:BDC) reported significant high-grade results from its recent drilling phase.

Bardoc Gold Limited (ASX:BDC) is pleased to report significant results from recent diamond drilling targeting depth extensions and infill of the multi-lode mineral system at the cornerstone 530koz Zoroastrian Deposit, part of its 100%-owned Bardoc Gold Project near Kalgoorlie in WA. The recent phase of drilling returned high-grade results at depth, confirming significant upside at Zoroastrian Deposit, demonstrating that the multi-lode system extends well below the current Mineral Resource boundaries.

Following the announcement, shares in Bardoc Gold Ltd fell 1.54% to $0.064/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.