BBX Minerals (ASX:BBX) has made an announcement about a key resource.

Following the announcement shares of BBX Minerals fell 4.999% to $0.057.

BBX Minerals is pleased to announce that assaying of the first completed RC drill holes in its 2017 programme at Tres Estados, TERC 002, TERC 003, TERC 004 and TERC 005 is now complete.

Assays were conducted for gold, platinum, palladium, iridium and rhodium. Precious metal mineralisation was encountered in all holes, including a higher grade multi-element zone immediately below the base of weathering in TERC 005.

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.