Tempest Minerals Ltd (ASX:TEM) announced that its maiden drillhole (WARDH72) into the Company?s flagship Meleya Project has intersected significant visible copper sulphide mineralisation with assays pending. WARDH72 is intermittently mineralised throughout the entire 709.10m but contains several zones of notable mineral enrichment.
Following the announcement, shares in Tempest Minerals Ltd surged 269.57% to $0.085/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.