ASX-listed Artemis Resources (ASX:ARV) continues to develop its stable of Pilbara-based projects, announcing a sizeable mineral resource at its 80 percent-owned Weerianna gold project.
Compiling drilling and historical results, the explorer has proved up a resource of 975Kt at two grams per tonne of gold, for a total of 62,739 contained ounces.
As with all of Artemis’s projects, the tenements are located close to its Radio Hill processing plant, which is the only independently operated plant in the region.
Radio Hill, which has a completed gold circuit is only 35km from Weerianna.
Commenting on the new resource, Artemis chief executive officer Wayne Bramwell said:
Artemis has drilled 37,000m across eight of its projects in the last 12 months to best determine which sites warrant more exploration expenditure.
“Weeriana has only been drilled to an average depth of 69m and as a shallow, quartz vein style gold resource may have the potential to increase in scale with deeper drilling,” he said.
As recently as this year Artemis has undertaken a reverse circulation drilling program at Weerianna comprising 19 drill holes for a total of 1,644m.
The inferred mineral resource estimate was completed by respected resource modelling outfit Geostat Services.
Geostat has confirmed that Weerianna may be practically mined by selective open cut mining methods using conventional mining techniques and equipment.
Artemis has confirmed further exploration at Weeriana will be ranked, reviewed and prioritised in 2019.