If you do nothing, it saves the site after a 10 second timer, to allow you time to add more deposits to the current site. This can be short-circuited by starting a new site of a different ore type; note that you can also cancel a site by tapping the ground, so be careful with that.
There are improvements in the plans for better feedback (e.g., actually showing the 10 second timer), and I'm also planning a complete redo -- I'm aware there are a lot of shortcomings to the current version, but it's been working (just barely) sufficiently for my needs (even worse, I've been away from Factorio for most of the run-up to 0.13, and even now I have less time than I'd like to work on it).