Artemis Resources has been granted two key exploration licences hosting conglomerate gold in the Pilbara region, Western Australia.
The exploration licences – which don’t form part of the Novo Resources JV – surround Artemis’ Radio Hill operations and link Artemis’ tenements to Novo Resources’ Comet Well project area.
These two key licences include the well-known 47 Patch conglomerate hosted gold find and the prognosed extension of the gold bearing conglomerates running west from Purdy’s Reward westwards through Novo’s Comet Well prospect and into these Elysian tenements.
This is a priority project for Artemis,” said Artemis’ Executive Chairman David Lenigas.
“These tenements fill in the missing but highly important keyhole between Novo’s Comet Well Project and Artemis’ assets around Radio Hill and Whundo.
“These tenements cover the immediate westerly extension of Comet Well, where Artemis witnessed local prospectors recover gold nuggets from surface with metal detectors.”
A Programme of Works (“POW”) will be lodged today with the DMIRS to begin a detailed trenching, pitting, and drilling programme.
Artemis will also be submitting a POW application today for excess tonnage bulk samples up to 20,000 tonnes.
Last month, the company announced the necessary permissions have been granted to process an initial 4,500 tonnes of gold bearing material at its Radio Hill plant site.
Artemis will now be requesting this tonnage be increased to process 50,000 tonnes by the end of June 2018.
Mr Lenigas said these tenements will be the prime focus for extracting the first 4,500 tonnes bulk sample for processing and grade determination.
The bulk sampling programme will be managed by an independent group to report on recovered gold, tailings grade and overall head grade of the bulk sample.
Shares in Artemis were last trading at 20c on Friday.