Gold: Artemis has more targets in the Paterson province ground it beat Rio Tinto to
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Artemis (ASX: ARV) is looking good to join UK-listed Greatland Gold as one of the nearology plays set to feed off Rio Tinto’s huge Winu find in WA’s Paterson province.
After it revealed in July last year that it had beaten Rio Tinto to the large patch of ground by about three hours, Artemis set about exploring its 600 sq km Armada prospect while the mining world waited for Rio to confirm its find.
Meanwhile, Greatland Gold confirmed it had hit a “world class” 275m thick intersection and “remarkable” peak gold and copper grades of 211.3 grams per tonne (g/t) and 8.45 per cent, respectively.
Artemis’ 100 per cent owned Armada Prospect surrounds Greatland’s Havieron Project on its northern, eastern and southern sides:
It’s just announced three new gravity targets around 4km northeast of Havieron. That makes a total of 11 targets Artemis now deems “worthy of follow-up”.
“Given a suitable partner, there is an exploration pathway forward,” Artemis executive director Ed Mead said. “That includes further geophysics, geochemistry and drilling, that could create significant value for Artemis shareholders.”
Four of its targets are ranked as priority 1 – Ferengi, Kazon, Bandi and Bolian. They’re the most likely candidates for deep drilling.
The warm colours represent gravity inversion shells, whereas greener colours pinpoint magnetic inversion shells. You can see why Greatland is excited about Havieron:
Now all Artemis needs is that aforementioned “suitable partner” to push exploration on down the road.
Thor Mining (ASX: THR) has recovered gold from samples of its Kapunda Copper ISR project in South Australia. The results are from research on samples by the CSIRO as part of the CRC-P project funded by the Australian government. The Kapunda project is owned by Environmental Copper Recovery, but Thor is acquiring a 60 per cent interest in it.
The gold recovery is just at proof of concept stage though, but it’s enough to get executive chairman Mick Billing calling it “an unexpected bonus”. Results for 28 surface and drill core samples at Kapunda are historically reported to range from approximately 0.93 to 8.58 grams per tonne (g/t).
Spectrum Minerals (ASX: SPX) has hit a new zone of high grade gold in its southern-most hole below Penny West Pit, 25km south of the Youanmi mining center in WA. Significant intercepts include 5m at 28.9 g/t gold from 203m, which also boasts 1m at 103 g/t gold from 203m, and within 31m at 5.5 g/t gold from 203m.
The “unusually thick” intersection occurs at Spectrum’s deepest hole yet, and it says it “may represent a new zone of structural thickening to the south and at depth, giving Spectrum a “large new target for further drilling”.
And Classic Minerals has updated investors, telling them it’s close to striking a deal with a “leading natural resources financier” to fund its mission to get a better idea of what’s at its high-grade Kat Gap project. It recently exercised an option to snap up 100 per cent of Kat Gap, where drilling last year returned samples like 5m at 14.1 g/t from 17m, 12m at 7.52 g/t from 39m, 8m at 19.05 g/t from 32m and 10m at 30.78g/t at 28m.