Venture Minerals (ASX:VMS) has made an announcement about a key resource.
Following the announcement shares of Venture Minerals rose 7.692% to $0.028.
Venture Minerals is pleased to announce the discovery of shallow clay hosted REE mineralisation immediately adjacent to existing Tin Zones within the Mount Lindsay Project's Tin Resources.
The discovery followed the re-assaying of a preliminary selection of 39 remnant pulp samples from clay zones in the hanging wall of the Reward Tin Deposit (0.5 Mt @ 0.9% Tin).
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.