Artemis Resources Ltd (ASX:ARV) has started a 13-hole drilling reverse circulation (RC) drilling program for 1,820 metres at the Munni Munni Platinum Group Elements (PGE) Project joint venture in the Pilbara region of Western Australia.
Drilling is designed around the resource area to test depth extensions and to undertake DHEM, which will test the electromagnetic (EM) signature of the ore zone.
The project is a joint venture between Artemis (70%) as the operator and Platina Resources Ltd (ASX:PGM) (30%).
Potential mineral resource
The EM signature will assist with identifying potential downdip extensions and parallel lode systems within and around the current resource area.
Artemis expects the program will test the presence of a second reef below the primary PGE reef and generate data that may contribute to a future JORC mineral resource estimate.
Executive director Alastair Clayton said: “It is terrific to be back exploring at the Munni Munni PGE Project.
“Whilst the previously announced Empire Transaction regarding the proposed sale of 51% of the company’s 70% beneficial interest in the Munni Munni PGE Project Joint Venture has yet to close, we and our partner Platina Resources believe it is imperative to keep the project moving forward with the stated aim of generating a JORC 2012 resource as soon as practicable.
“Our prospective partners in the Empire Transaction are also supportive of this program.”
Carlow West drilling to kick-off
Clayton continued: “We are continuing to work constructively with all parties towards the formation of a new Joint Venture Agreement, which is one of the key conditions precedent to consummating the proposed Empire Transaction.
“I’d like to thank all parties for their cooperation in this complex process.
“As soon as this exploration program is complete, Artemis field crews will then move immediately to join an aircore rig at Carlow West to kick off a 5,000-metre program.”
Two holes are being drilled to test strong VTEM responses presumed to be from the contact zone between the Fortescue Group and the Munni Munni Complex.
Holes are being placed on pre-existing pads to minimise disturbance, spread along 900 metres of strike length with multiple holes are being drilled from several pads