Artemis Resources acquires three projects in Paterson Province
Artemis Resources Ltd (ASX:ARV) has signed an agreement to acquire Rincon Resource Limited, the holder of 708 square kilometres in WA’s Paterson Province.
Rincon’s three projects are its flagship South Telfer Project, the Laverton Project and Kiwirrkurra Project.
Notably, South Telfer is 12 kilometres from Newcrest’s giant 25 million ounce Telfer gold mine.
The total price for the acquisition, which is subject to due diligence and conditions, is $2.7 million in cash and scrip.
READ: Artemis Resources begins survey in Carlow Castle to expand 7.7 million tonnes resource
Artemis’s non-executive chairman Sheik Maktoum said: “The acquisition of Rincon is a significant win for Artemis Resources shareholders, making the company one of the largest land holders in the Paterson Province.
“At completion, Artemis gains a significant increase in scale and a simplified Paterson operation all within close proximity to some of the region’s largest miners.
“Telfer South is an exceptional prospect with mineralised intercepts of gold and copper from surface and offers a compelling target to increase the value of the Artemis’ suite of Patersons Province assets.
“The other projects within Rincon also include quality assets which may provide value propositions for sale, JV or exploration.”
…more to come
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/223940/artemis-resources-acquires-three-projects-in-paterson-province-223940.html
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