Artemis Resources granted Armada tenement; drilling program planned

Artemis Resources Ltd (ASX:ARV) has been granted the Armada tenement in the East Pilbara region of Western Australia by the Department of Mines, Industry Regulation and Safety (DMIRS).

The 601 square kilometre tenement is within the highly prospective Proterozoic Paterson orogen, about 40 kilometres east of the multi-million-ounce Telfer Gold-Copper mine, and contiguous to the Haverion gold and copper discovery.

Artemis aeromagnetic data depicting eight new targets

Artemis executive director Ed Mead said; “After identifying this copper-gold opportunity in mid-2018, Artemis has moved quickly to consolidate historic and newly acquired data as a precursor to a ground program.

“The interest in this region is high and Artemis is now reviewing a range of options to advance Armada during 2019.”

READ: Artemis Resources identifies 8 new targets from airborne survey

Last month, Artemis completed an airborne magnetic survey on the western portion of the Armada prospect, identifying eight targets within a 22-kilometre radius of Havieron.

These targets have been arbitrarily ranked on magnetic signature/structural character.

Next steps

Processing, magnetic inversion modelling and interpretation of the magnetic data is proceeding with a gravity survey initiated to further assist with prospect ranking and drill targeting at the Armada prospect.

The gravity data will be merged as it becomes available.

Artemis is also progressing the Carlow Castle Project in Western Australia where it recently confirmed the effective separation and high recoveries of gold, copper and cobalt via conventional process routes.

Story by ProactiveInvestors