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- Following a review of its data, Artemis Resources (ARV) has identified seven new target zones at its Paterson Central Project in WA
- This drilling aims to uncover gold and copper discoveries, as well as demonstrate the project’s similarities to the nearby Havieron discovery
- Out of the seven, five targets lie within the same geological and structural area as Havieron
- The remaining two are strong magnetic anomaly target zones and are located in the northern part of the project area
- Drilling will begin either later this month or early September, subject to final heritage and access works
- Company shares are trading flat at 9.6 cents
Artemis Resources (ARV) has provided an update on mineral exploration activities at its Paterson Central Project in the East Pilbara region of Western Australia.
Artemis’ wholly-owned Paterson Central Project is located in the Yaneena Basin of the Paterson Province, which hosts large scale mineral deposits. These include the Telfer Gold-Copper Mine, recently discovered Winu copper-gold deposit, Nifty Copper Mine, and the Havieron gold and copper deposit.
Perth-based Resource Potentials conducted a review of Artemis’ data, which led to the identification of seven new target zones to each be tested by a single deep drillhole. The target zones include: Juno, Voyager, Enterprise East, Enterprise West, Nimitz, Atlas and Apollo.
“The extensive review and data reprocessing undertaken by our external consultants, Resource Potentials, has significantly changed our understanding of the modelled geology and structural characteristics of the Paterson Central area,” Chairman Mark Potter said.
Phase one drilling
A phase one drill program is planned to test seven of the highest priority targets with one deep hole for each target and a total of 5600 metres.
This drilling aims to uncover gold and copper discoveries, as well as demonstrate the project’s similarities to the nearby Havieron discovery.
Drilling is expected to begin either later this month or early September, subject to final heritage and access works.
Artemis intends to start drilling around the more southerly targets located just several kilometres from the Havieron discovery.
Of the seven targets, five sit within the same geological and structural area as Havieron and are sited within the same favourable structural corridor.
Artemis has identified two strong magnetic anomaly target zones, Juno and Voyager, in the northern part of the project area. They’re located 12 kilometres to the north of Havieron.
Juno and Voyager are situated on the northern edge of the interpreted granite intrusion. The targets form along a northeast-trending structural corridor that crosses the northwest to north-south-trending bedrock units.
The north-south bedrock units appear to have intruded along the interpreted late brittle faults. It is believed these faults may have also formed local host structures for gold mineralisation.
Company shares are trading flat at 9.6 cents each at 12:23 pm AEST.
