Cobre (ASX:CBE) has made an announcement about a key resource.
Following the announcement shares of Cobre fell 1.219% to $0.405.
Cobre is please to announce the sixth intersection of copper mineralisation from its ongoing drill programme on Kalahari Metals Limited's (KML) NCP licenses.
Drill hole NCP12 targeted the lateral extension of highly anomalous mineralisation intersected in drill holes NCP08 and NCP11-B, which, along with drill holes NCP10, NCP09, NCP07 and TRD-14-16a, has delineated a compelling copper target with more than 4km of strike.
Importantly, the copper intersection in NCP12 provides confidence in the continuity of mineralisation along the extensive strike extent.
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.