Challenger Exploration (ASX:CEL) has made an announcement about a key resource.
Following the announcement shares of Challenger Exploration rose 2.777% to $0.185.
Challenger Exploration is pleased to announce results from drilling at its flagship Hualilan Gold Project, San Juan Argentina.
The results are from the Company's ongoing drill program targeting extensions to the current 2.1 million ounce AuEq Mineral Resource Estimate.
The holes reported in this release are primarily targeting extensions to the Verde and Gap Zone mineralisation.
The drilling continues to show the presence of coherent zones of significantly higher-grade mineralisation at depth in the Verde Zone.
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.