Artemis Resources Ltd (ASX:ARV) (FRA:ATY) has recovered 7 kilograms, or 225 ounces, of gold nuggets from exploration at two deposits in the Western Pilbara region of WA.
These nuggets have been recovered by Artemis from the conglomerate-style gold deposits at 47K Patch and Purdy’s Reward south of Karratha.
There have been around 6 kilograms, or 193 ounces, recovered from 47K Patch with further gold being recovered from exploration activities on an ongoing basis.
READ: Artemis Resources' multi-mineral Pilbara exploration yields potential for Radio Hill processing
Before announcing the 50:50 joint venture with Novo Resources Corp (CVE:NVO) at Purdy’s Reward last month, the company had recovered around 1 kilogram, or 32 ounces, from that deposit.
Artemis’ chief executive officer Wayne Bramwell said, “Exploration on our 47K target is focused upon understanding the structural controls and geology of the mineralising system.”
Adding to nugget stockpile
He said, “We are working closely with the CSIRO and a benefit of groundwork here is that we continue to add to our stockpile of nuggets.”
Artemis’ Ed Mead (left) and Wayne Bramwell with the 100%-owned conglomerate hosted gold nuggets.
The company is focusing on 47K Patch and has recently completed mapping, and flora, fauna and heritage surveys to allow exploration efforts to expand.
Working with CSIRO
Artemis is working with the CSIRO and is completing a Sub Audio Magnetics (SAM) geophysical survey over the 47K Patch, which is 70%-owned by Artemis and not part of the Novo Resources JV.
The company has decided to defer bulk sampling until all data is consolidated, integrated and processed.
Bulk sampling is planned
It retains the ability to bulk sample 9,600 tonnes and, at the appropriate time, will undertake this sampling.
The 47K Patch deposit is part of the company’s Comet Well West tenement package and is within approved tenement E47/3443.
Artemis’ tenements in the Western Pilbara region.
Investor interest from North America
Bramwell added, “The interest from North American investors in conglomerate gold opportunities remains high.
“As such the company will be marketing in the US during September and evaluating options to enhance its OTC listing there.”
Artemis is focused on its prospective base, battery and precious metals assets in an area of around 2,400 square kilometres in the Pilbara region.
READ: Artemis Resources to install and commission new circuits at Radio Hill plant
It also owns the 500,000 tonnes per annum Radio Hill processing plant and infrastructure, about 35 kilometres south of Karratha.
The Radio Hill processing plant.
Work towards Radio Hill’s restart is ongoing, with the first of three key approvals to install a new gold circuit received in July.
The planned Gekko gold circuit will provide Artemis with the ability to bulk-sample gold targets within its regional holdings.
READ: Artemis Resources drills another high-grade cobalt gold zone at Carlow Castle
The company is evaluating JORC-compliant resources of gold, nickel, copper-cobalt, PGE's and zinc, all situated within a 40-kilometre radius of the Radio Hill plant.
At the Carlow Castle project, Artemis continues to receive high-grade gold, cobalt and copper assays with the most recent results including 17 metres at 1.86 g/t gold, 0.61% cobalt and 0.05% copper from 88 metres.