Miramar Resources (ASX:M2R) has made an announcement about a key resource.
Following the announcement shares of Miramar Resources fell 4.166% to $0.115.
Miramar Resources is pleased to advise that the first diamond drill hole completed at the Glandore Project has intersected shallow high-grade gold mineralisation, including coarse visible gold.
Miramar's 100% owned Glandore Project is located approximately 40km east of Kalgoorlie, in the Eastern Goldfields region of WA.
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.