Koonenberry Gold has announced a new resource discovery.
The gold exploration company announced it has identified the ?potential for multiple prospects, similar to its flagship Lucky Sevens target where historical drilling intersected 5m @ 25.1 g/t gold hosted within a quartz reef from the surface?.
Following the announcement shares of Koonenberry Gold traded flat at 14c/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.