Westar Resources (ASX:WSR) has made an announcement about a key resource.
Following the announcement shares of Westar Resources fell 2.127% to $0.046.
Westar Resources is pleased to announce completion of a geological reconnaissance field work program at the 100% owned Opaline Well Project in the Pilbara of Western Australia.
The reconnaissance program included traverse mapping and rock chip sampling at previously identified airborne electromagnetic (AEM) conductors along with multiple base-metal, cobalt and gold prospective targets identified from previous field work and compilation of historical data. Multi-element rock-chip assays for all samples have been returned from Als.
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.