Thomson Resources(ASX:TMZ) has made an announcement about a key resource.
Following the announcement shares of Thomson Resources stable to $0.021.
Thomson Resources is pleased to advise that relogging and drill hole core cutting of the geotechnical holes drilled by Thomson in 2021 has identified visual indications of base metal mineralisation on the margins of the Strauss-Kylo open pits.
This provides additional evidence that the mineralisation extends beyond the boundaries of the previously reported optimised "gold only" pit shells, reinforcing the potential to extend the gold equivalent resource, which will lead to larger open pits and hence lower mining costs and potentially improved financial metrics.
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.