Sunstone Metals Ltd (ASX:STM) has announced that a geophysical survey indicates that its high-grade Alba gold-copper porphyry discovery at the Bramaderos Project in southern Ecuador has substantial scale, with the mineralised system expected to continue to 1km deep.
Following the announcement, shares in Sunstone Metals Ltd rose 6.94% to $0.077/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.