Artemis Resources (ASX: ARV) has location on its side in a new drilling campaign at the Yandal gold project, which is just 30 kilometres from the Bronzewing Gold Mine (2.3 million ounces) and 90 kilometres south of the Jundee Gold Mine (5.4 million ounces).
The program will test several gold targets and extensions to known gold mineralisation, providing significant potential to increase the size of the gold deposits.
Yandal is situated within the highly productive Yandal gold belt in Western Australia, which has produced more than 12 million ounces of gold.
Last year mining consultants Southern Geoscience identified 12 gold targets at the project, with the drilling program consisting of 17 reverse circulation holes, including one vertical hole to 250 metres.
Southern Geosience concluded that Yandal has a high potential to host gold.
Historical drilling by previous explorers has returned:
- 24 metres at 3.2 grams per tonne (g/t) gold;
- 5 metres at 10.0g/t gold;
- 8 metres at 6.3g/t gold; and
- 14 metres at 4.0g/t gold.
Drilling will take around six weeks.