Kingfisher Mining Ltd (ASX:KFM) has announced an update of the on-going exploration at its 100% owned projects in the Gascoyne Mineral Field in WA. The Company has received results from the 1m samples from the reverse circulation (RC) drilling completed at Mick Well last year with the 1m samples from the Mick Well discovery drill hole MWRC004 showing 4m at 1.84% total rare earth oxides (TREO).
Following the announcement, shares in Kingfisher Mining Ltd traded flat at $0.25/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.