Enegex (ASX:ENX) has made an announcement about a key resource.

Following the announcement shares of Enegex fell 6.896% to $0.027.

Enegex is pleased to announce that rock chip sample results have been received from recently completed reconnaissance exploration on its East Kimberley Hart Project located along the eastern margin of the Kimberley Basin, Western Australia.

The results confirm the potential for Ni-Cu-PGE and V-Ti mineralisation with up to 0.37% V2O5 and 2.14% Ti within a magnetic gabbro sill that is also anomalous in Ni-Cu-PGE.

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.