Diversified explorer Artemis Resources has unearthed 7 kilograms of gold nuggets so far from its exploration of conglomerate-style gold deposits in the West Pilbara with investors welcoming the news.
The 7kg, or 225 ounces, of gold have been recovered by Artemis from its 47K Patch and Purdy’s Reward gold discoveries.
To date, Artemis has recovered ~6kg (193 ounces) of gold nuggets from 47K Patch with further gold being recovered from exploration activities on an ongoing basis.
Meanwhile before entering the 50:50 joint venture with Novo Resources Corp (TSX.V – NVO) at Purdy’s Reward in August 2017, Artemis had recovered ≈1kg (32 ounces) of gold nuggets.
Exploration on our 47K target is focussed upon understanding the structural controls and geology of the mineralising system,” Artemis’ Chief Executive Officer Wayne Bramwell said.
“We are working closely with the CSIRO and a benefit of ground work here is that we continue to add to our stockpile of nuggets.
“The interest from North American investors in conglomerate gold opportunities remains high and as such the company will be marketing in the US during September and evaluating options to enhance its OTC listing there.”
Artemis continues to focus on 47K Patch and has recently completed mapping, a flora, fauna and heritage surveys to allow exploration efforts to expand.
The company is working with the CSIRO and currently completing a Sub Audio Magnetics geophysical survey over 47K Patch with results to be announced as they become available.
Artemis has been methodically working at 47K Patch and has decided to defer bulk sampling until all data is consolidated, integrated and processed.
47K Patch lies within the Company’s Comet Well West tenement package. 47K Patch is within approved tenement E47/3443 which is 70% owned by Artemis. Artemis’ interests in its Comet Well West tenements are not associated with Novo Resources Corporation.
Shares in Artemis were last trading 1.1% higher at 18.7c at noon AEST.