Turaco Gold Ltd (ASX:TCG) has announced the results from the initial 11 RC holes drilled at the Nyangboue gold discovery within the Boundiali Gold Project in northern Cote d?lvoire. Results received confirm the extension of mineralisation at depth into fresh rock and improve confidence in the continuity of gold mineralisation.
Following the announcement, shares in Barton Gold Holdings traded 9.38% lower at $0.14/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.