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Artemis Resources (ASX:ARV) - Non Executive Director, Edward Mead
Non Executive Director, Edward Mead
Source: Artemis Resources
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  • Artemis Resources (ARV) is planning a geochemistry program at its Paterson Central Project
  • The project neighbours the Havieron gold and copper discovery, which has returned results such as 15.45 grammes per tonne gold and 2.5 per cent copper
  • This new geochemistry program will test whether Paterson has similar potential
  • The results from this program, which are expected four to five weeks after completion, will help Artemis identify maiden drill targets
  • This maiden drilling campaign is then expected to begin in July
  • Artemis has jumped 10.7 per cent this morning and shares are trading for 3.1 cents each

Artemis Resources (ARV) is planning a geochemistry program at its Paterson Central Project.

The 605 square kilometre Paterson Central Project is located in the East Pilbara in Western Australia, approximately 40 kilometres east of Newcrest Mining’s Telfer Gold-Copper Mine.

It also neighbours Greatland Gold’s Havieron gold and copper discovery, which has intersected significant alteration, with results such as 15.45g/t gold and 2.5 per cent copper.

A combination of gravity and airborne magnetic surveys have identified 13 targets within a 22-kilometre radius of the Havieron Discovery.

The upcoming geochemistry program will test seven of these 13 targets, as they are believed to be anomalous.

The results from this program, which are expected four to five weeks after completion, will help Artemis identify maiden drill targets.

This maiden drilling campaign is then expected to begin in July.

“Artemis is pursuing this highly prospective Greenfield’s opportunity on a 100 per cent basis to provide shareholders maximum leverage to exploration success,” Executive Director Alastair Clayton commented.

“Havieron has a pre-resource implied valuation of more than $1.5 billion, so despite the obvious exploration risks involved in drilling through approximately 400 metres of cover, we can clearly see the rewards on offer at Paterson Central are potentially enormous,” he said.

“Our geological model contends that mineralisation in and around Paterson Central is not just associated with the discrete Havieron intrusion ‘bullseye’,” he added.

Artemis has jumped 10.7 per cent this morning and shares are trading for 3.1 cents each at 11:06 am AEST.

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