Article Image

Kin Mining Ltd (ASX:KIN) announced shallow gold discovery.

Kin Mining Ltd (ASX:KIN) has announced that it has intersected a significant zone of shallow, high-grade, gold mineralisation in the initial air-core (AC) drilling program at the Pegasus prospect, located adjacent to the 374,000 oz Bruno-Lewis deposit at its 100%-owned 1.275Moz Cardinia Gold Project (CGP) near Lenora in Western Australia.

Following the announcement, shares in Kin Mining Ltd traded 8.70% higher at $0.12/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.

More stories from Grafa
Check out other news relating to this publisher