Cazaly Resources (ASX:CAZ) has made an announcement about a key resource.

Following the announcement shares of Cazaly Resources fell 2.857% to $0.034.

Cazaly Resources is pleased to announce that all analytical results have been received for the reverse circulation (RC) resource drilling program completed at the Bommie Porphyry Copper Prospect in Halls Creek during August 2022.

The Halls Creek Project is located 25km southwest of Halls Creek in the East Kimberley Reg on of Western Australia.

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.