Gold: Next quarter, Artemis will be drilling for its very own Havieron

Artemis Resources (ASX:ARV) is riding the hype surrounding the neighbouring Havieron discovery in WA’s Paterson Province.

The $37m market cap explorer has reason to be excited. Its Paterson Central tenure surrounds the mammoth Havieron copper-gold project on three sides.

But it’s not just proximity, Artemis exec director Alastair Clayton says.

“Structural interpretation of Havieron released by Newcrest (ASX:NCM) 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,” he says.

“The recent release of the Newcrest model for Havieron is, we believe, highly significant for our Paterson Central project.”

Here’s the model Clayton is talking about:

And here’s the Artemis ground:

A planned geochemical (soil sampling) program to dial in on seven priority targets shown above will culminate in first drilling at Paterson Central “to begin sometime in Q2 of this year”, Clayton says.

Artemis – down 50 per cent over the past 12 months – nudged about 6 per cent higher in morning trade.

In other ASX gold news today:

3D Resources (ASX:DDD) has inked a purchase agreement over the historic Adelong gold project in NSW, shelling out the $100,000 deposit to current owner Macquarie Gold. The $2.8m market cap tiddler, up ~67 per cent since first announcing the acquisition on January 31, jumped another 50 per cent in morning trade.

For about $1.1m, 3D gets a bunch of walk-up, high-grade drill targets, a previously operating mine with existing 127,000oz gold resource, plus ~$7m worth of plant and equipment. The deal is still subject to shareholder approval.

READ: 3D believes it will succeed at the historic Adelong goldfield where others have failed

High-grade success story Vango Mining (ASX:VAN) will raise ~$3m to fund exploration and development at its advanced Marymia project in WA.

Recently completed drilling at the Mars prospect – like 15m at 4.15 grams per tonne (g/t) gold from 34m — will now be incorporated into an upgraded resource for the 5km-long Trident‐Marwest‐Mareast Corridor, the company says. This will underpin a resource upgrade for the wider Marymia project, which is currently in progress.

READ: Mars exploration pays off big time for Vango