Artemis Resources Limited (ASX:ARV / Frankfurt: ATY, US OTCQB: ARTTF) is preparing to undertake a geochemistry programme to test seven potential targets at its Paterson Central project in Western Australia.
The Paterson Central project covers 605 sq. km and is located approximately 40 km east of Newcrest Mining’s multi-million-ounce Telfer Gold- Copper mine and is contiguous to Greatland Gold Plc’s Havieron gold and copper discovery.
Based on magnetic and gravity survey results, Artemis has identified 13 targets within the Patersons Central project (E45/5276), with the geochemistry programme designed to cover seven of them.
Executive Director, Alastair Clayton, said geochemistry has been used successfully at Havieron and regionally, and helped identify an area being drilled by Newcrest and Greatland Gold.
“Our 100%-owned Paterson Central Project surrounds the outstanding Havieron Gold-Copper discovery on three sides,” Mr Clayton said.
“As well as pure proximity, structural interpretation of Havieron released by Newcrest on 30 January supports our belief that not only do regional fault and splay structures that transect Havieron continue into Artemis ground but deformed and folded basement features, as suggested by seismic data, also are possibly present.
“The recent release of the Newcrest model for Havieron is, we believe, highly significant for our Paterson Central project. The planned geochemical programme over seven priority geophysical targets should help generate our very first drill targets.
“We envisage first drilling at our 100%-owned Paterson Central to begin sometime in Q2 of this year.”
A soil sampling programme has been designed for the area, which will be undertaken in two parts:
- Over the known magnetic and gravity targets a short set of X-Y traverses over three of the targets will be completed; and
- The samples will be dispatched for analysis by both the MMI and Ionic Leach techniques.