CuFe (ASX:CUF) has made an announcement about a key resource.

Following the announcement shares of CuFe stable to $0.016.

CuFe is pleased to provide an update on assay results received for the drilling program recently completed at its 60% owned Tennant Creek Copper/Gold project (Orlando, Orlando Project) in the Northern Territory.

CuFe Executive Director, Mark Hancock, commented: We are pleased to have completed our first drilling program at Orlando. We see an opportunity at Orlando to cut back the existing open pit to access the remaining ore and this drilling provides valuable data to support that.

We have achieved our aims, being confirming the existence of high-grade ore, generating diamond core for metallurgical testwork and obtaining water data for the environmental approval process. We will continue to progress activity on all these streams as well as looking in the remaining exploration potential at areas such as Gecko, Goanna and Monitor, all of which has shown potential to host high-grade copper mineralisation in previous drilling.

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.