Investors have jumped onboard Artemis Resources (ASX: ARV) today on news a swag of targets have been identified at its Armada prospect in the highly prospective Paterson Range in the East Pilbara region of Western Australia.
Airborne magnetic surveying identified eight targets within the highly prospective Proterozoic Paterson orogen, located approximately 40km east of the multi-million-ounce Telfer Gold-Copper mine, and contiguous to the Havieron gold and copper discovery owned by London-listed Greatland Gold.
The survey covered the western 47% of the 605 square kilometre Armada tenement and was flown in late November 2018.
The project surrounds the Havieron gold-copper discovery to north, east and south. Havieron recently delivered a ‘stunning’ gold-copper intercept of 275 metres at 4.77 grams per tonne gold and 0.61% copper.
The eight targets lie within a 22km radius of Havieron with these targets arbitrarily ranked on magnetic signature/structural character.
Priority 1 targets have magnetic units ranging from around 1km to 2km long with a number of these targets directly along strike from Havieron.
The latest airborne survey undertaken by Artemis has now identified a large number of very prospective exploration targets surrounding Havieron, with the Kzinti Target as close as only 2.5 km away and on the Greatland/Artemis tenement boundary,” said Artemis executive director Ed Mead.
“Artemis surrounds Havieron on three sides and right now we see this project as one of the most exciting in the Company’s extensive Pilbara tenement portfolio.”
Shares in Artemis have gained 1c, or 8.7%, to 12.5c in morning trade.