Musgrave Minerals Ltd (ASX:MGV) has announced further high-grade gold assay results from reverse circulation drilling at the Amarillo Prospect south-west of White Heat on the Company?s 100% owned ground at its flagship Cue Gold Project in Western Australia?s Murchison district.
Following the announcement, shares in Musgrave Minerals Ltd lifted 1.52% to $0.34/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.