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

Following the announcement shares of BBX Minerals fell 17.241% to $0.072.

BBX Minerals wishes to announce that assaying of RC holes EMRC-001 to 011 has been completed, as well as the first three diamond holes, EMD-001, 002 and 003 from its 2017 drilling programme at the Ema project.

Assays were conducted for gold, platinum, palladium, iridium, and rhodium.

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.