DevEx Resources (ASX:DEV) has made an announcement about a key resource.

Following the announcement shares of DevEx Resources rose 1.639% to $0.310.

DevEx Resources advises that ongoing diamond and Reverse Circulation (RC) drilling continues to intersect high-grade uranium mineralisation at the 100%-owned Nabarlek Uranium Project, located in the heart of the world-class Alligator Rivers Uranium Province (ARUP) in the Northern Territory.

DevEx holds an extensive tenement package in the ARUP which is centred on, and includes, the former Nabarlek Uranium Mine, considered Australia's highest-grade uranium mine with past production of 24Mlbs @ 1.84% U3O8.

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.