Laneway Resources Ltd (ASX:LNY) has announced the continuation of high grade gold assay results from the recent drilling program at the high grade Sherwood and Sherwood West deposits within Laneway?s 100% owned Agate Creek Gold Project in North Queensland.
Following the announcement, shares in Laneway Resources Ltd jumped 20% to $0.006/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.