Monger Gold Ltd (ASX:MMG) has announced that its Diamond Drilling campaign at the Providence prospect at Monger North has now commenced. The Company is also pleased to announce one metre sample results from 22MNRC017 of 10m @ 2.69g/t from 89m which compare favourably with four metre composites of 12m @ 2.19g/t.
Following the announcement, shares in Monger Gold Ltd lifted 3.92% to $0.26/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.