Felix Gold (ASX:FXG) has made an announcement about a key resource.

Following the announcement shares of Felix Gold rose 7.142% to $0.150.

Felix Gold advises of assay results for a further six holes at its Treasure Creek Project in the world-class Fairbanks Gold Mining District of Alaska, US.

Felix's initial drill program targeted shallow Reverse Circulation (RC) drilling to test large-scale, high grade (+100 ppb Au) soil geochemical anomalies at multiple prospects. Drilling targeted multiple near surface mineralisation targets across numerous project areas in the Fairbanks Gold Mining District.

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.