Junior explorers' shares rise due to nearology strategy
Junior mining companies like E79 Gold Mines, Caprice Resources, and Thunderbird Resources have seen their share prices rise significantly due to "nearology," which involves acquiring land near recent mineral discoveries. This strategy can enhance exploration success. E79 Gold Mines' shares surged after a neighboring company announced a major gold find. The company plans to drill near this discovery, which is only 40 meters away from a promising gold zone. Caprice Resources also benefited from nearology by acquiring a project near WA1 Resources' successful niobium discovery. Their share price increased following the announcement, reflecting investor interest in nearby exploration opportunities.