Meeka Gold Ltd (ASX:MEK) has announced further zones of thick ionic absorption clay REE style mineralisation have been intersected at Circle Valley. The mineralisation is located within the saprolite clays, which blanket the tenure in varying thickness from 2m to over 50m. REE mineralisation has now been reported within an approximate area of 7km by 5km.
Following the announcement, shares in Meeka Gold Ltd jumped 12.77% to $0.053/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.