Southern Cross Gold (ASX:SXG) has made an announcement about a key resource.
Following the announcement shares of Southern Cross Gold fell 13.380% to $0.307.
Southern Cross Gold is pleased to confirm gold-antimony mineralisation extends over a wide interval from surface to depth with multiple high grade intersections with a 429 m downhole interval in drillhole SDDSC040 at the 100%-owned Sunday Creek Project in Victoria.
This is one of two holes reported (SDDSC0037, SDSC0040) in this release. Assay results continue to increase the size and limits of gold-antimony mineralisation from surface to the deepest levels of mineralisation tested to date.
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.