Artemis calls in CSIRO scientists to figure out Pilbara’s nuggetty gold
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Artemis Resources has bought in the researchers to help it better understand the nuggetty gold phenomenon that is gaining traction in the Pilbara.
The company (ASX:ARV) is working closely with the Australian government’s Commonwealth Scientific and Industrial Research Organisation (CSIRO) to investigate the origin of the new style of gold mineralisation.
The Western Pilbara region, south of Karratha in Western Australia, has attracted significant exploration interest due to the discovery of unique “watermelon” seed shaped coarse gold nuggets found at or close to surface over extensive strike lengths.
Artemis and its Canadian partner Novo Resources were responsible for the initial discovery of the conglomerate-hosted gold.
Novo, however, faced some early difficulties with drilling and confirming the economic viability of the nuggetty gold at the Purdy’s Reward project that Artemis is an equal partner in.
“Artemis has a significant land holding in the area and we are actively seeking to understand the genesis of this unusual type of gold,” executive director Ed Mead told investors.
“Gaining a better understanding of these key questions will enable refinement of our exploration and evaluation methods going forward.”
Artemis hopes to gain the answers to several questions that will give it a better understanding of the geological background for the gold mineralisation and how the nuggets are formed.
Artemis’s “47 Patch” site located 5km from the Radio Hill processing plant will be the starting point for researchers.
Artemis shares rose 3 per cent to 18c in Monday morning trade. They have traded between 5.5c and 59c in the past year.