High grade near surface gold, silver and copper has been intersected at the Mt Clement Gold Project joint venture between Artemis Resources (80%) (ASX: ARV) and Northern Star Resources (20%) (ASX: NST), located just 35 kilometres from Northern Star's operating Paulsens Gold Mine, which produced 30,602 gold ounces in the September quarter.
Drilling extended mineralisation by 50 metres to the north and 40 metres deeper, with potential for further significant extensions.
With Paulsens mine in proximity, it would seem to raise potential for Artemis in terms of a potential agreement with Northern Star, should future drilling continue to yield results.
During the September quarter, Artemis identified signficant near surface gold intersections at Mt Clement, returning some stunning gold intersections of; 6m at 8.81g/t, 20m at 7.30g/t and 24m at 3.40g/t gold.
First results from current drilling included:
- 11m at 2.09g/t gold, 88g/t silver and 0.32% copper from 39m, including an interval of 3m at 4.28g/t gold, 105.5g/t silver and 0.73% copper from 47m.
A deeper lode also averages; 3m at 5.22g/t gold and 87.7g/t silver from 56m.
The current drilling program at Mt Clement includes reverse circulation and diamond drilling, aimed at extending the mineralisation both along strike and at depth.
The Mount Clement Gold project comprises three mining leases and two exploration licenses over 14.5km2 in the Ashburton area of Western Australia.
As part of its recent acquisition of the nearby Paulsen’s Gold Mine, Northern Star also acquired a 20% free-carried interest to feasibility stage in the mining leases.