Pil­bara gold JV gains mo­men­tum


ARTEMIS Re­sources and Canada-based Novo Re­sources are ramp­ing up ex­plo­ration ef­forts in and around their con­glom­er­ate gold project in the Pil­bara, which set off a mini min­ing rush last year when unique wa­ter­melon shaped nuggets were dis­cov­ered in shal­low ground.

Artemis strength­ened its bal­ance sheet at the start of the month, af­ter an ad­di­tional $2.5 mil­lion com­mit­ment from ex­ist­ing share­holder Deutsche Bala­ton AG lifted its Jan­uary cap­i­tal rais­ing to $9m.

On 12 Fe­bru­ary Artemis an­nounced a part­ner­ship with the CSIRO to in­ves­ti­gate the origin of the un­usual wa­ter­melon seed nuggets found in the con­glom­er­ates.

Artemis ex­ec­u­tive chair­man David Leni­gas said the com­pany was ac­tively seek­ing to un­der­stand the ge­n­e­sis of the unique type of gold in the Pil­bara re­gion.

“It is im­por­tant that Artemis en­gage with in­de­pen­dent lead­ing in­dus­try spe­cial­ists to seek a deeper un­der­stand­ing as to why the gold ex­ists in the con­glom­er­ates south of Kar­ratha, and in­deed how th­ese unique ‘wa­ter­melon’ seed nuggets were formed,” Mr Leni­gas said.

“Gain­ing a bet­ter un­der­stand­ing of th­ese key ques­tions will en­able re­fine­ment of our ex­plo­ration and eval­u­a­tion meth­ods go­ing for­ward.”

On Fe­bru­ary 15 Artemis re­leased high-grade gold hits from ex­plo­ration con­ducted by Novo at the JV’s flag­ship Purdy’s Re­ward project, with bulk sam­pling grades of 87.7 grams per tonne (g/t), 46.1g/t, 17.7g/t and 10.6g/t.

Artemis ex­ec­u­tive di­rec­tor Ed Mead said the bulk sam­pling re­sults from Novo were ex­cel­lent and the 2018 ex­plo­ration sea­son had now started in earnest.

The JV was also granted a fur­ther four ten­e­ments around Pyra­mid Sta­tion, adding 178.8sqkm to the project area.

The ten­e­ments lie 50km east of the Ra­dio Hill plant and 35km east of Purdy’s Re­ward.

Im­age: Artemis Re­sources.

Artemis Re­sources’ Ra­dio Hill plant south of Kar­ratha, WA.

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