Dalaroo Metals Ltd (ASX:DAL) has announced an update on exploration activities from its Lyons River Project in Western Australia, where its program of RC drilling has been successfully completed at the Four Corners prospect. Lyons River comprises a strategic (100% owned) land position of 703km? within the Proterozoic Mutherbukin Zone of the Gascoyne Province. The assay results confirm the district as an emerging Broken Hill Type (?BHT)/Sedimentary Exhalative (?SEDEX?) deposit setting. The assay results highlight shallow near surface zones of notable lead-zinc mineralisation.
Following the announcement, shares in Daraloo Metals Ltd traded flat at $0.14/share.
When a mining company announces a new resource discovery 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.