KGL Resources (ASX:KGL) has made an announcement about a key resource.
Following the announcement shares of KGL Resources stable to $0.315.
KGL Resources is pleased to announce results from hole KJCD556 which was drilled to test the down-dip continuation of the high-grade Rockface deposit as defined by previous down-hole electromagnetics (DHEM) modelling and drilling.
The Rockface deposit is the highest-grade deposit at Jervois with an average grade of 3.07% Cu and represents 22% of the current total Mineral Resource Estimate.
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.