Artemis Resources Limited (ASX: ARV) reports that local prospectors have been recovering gold nuggets from tenements it is in the process of acquiring in Western Australia’s Pilbara Region.
Artemis recently signed a binding agreement to acquire a 70% interest in 302.27km2 of tenements south of Karratha.
The package of tenements comprises two granted exploration licences, eight exploration licence applications and three prospecting licence applications.
Artemis geologists have been talking to prospectors and have witnessed the recovery of gold nuggets from the new acquisition tenements, immediately adjacent to Comet Well and Radio Hill. As well as confirming gold locations.
Artemis has purchased the gold nuggets from the prospectors, and said they appear to be both specimen gold and watermelon seed.
Subscribe to The PickGet your Free Copy of THE PICK - Australia's Premier Resources Sector Investment Magazine - direct to your inbox...
Artemis’s Executive Chairman, David Lenigas, said further investigation is required, and once the application tenements are granted, geologists will be able to undertake ground disturbing activities, which will include trenching and pitting.
“Since the announcement on 10 November 2017 to acquire the controlling interest in the Elysian Tenements next to Comet Well, Artemis has been discussing with and watching local prospectors metal detect on the ground that extends west from Comet Well.
“The results over a short period of time, have identified both vein hosted and water melon seed nuggets.
This is a great start and once the tenements are granted, Artemis looks forward to embarking on a significant exploration programme to extend the Purdy’s Reward and Comet Well trend of gold mineralisation.”