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Artemis Resources to commence magnetic survey in emerging Patersons Range region

A British company drilled 275 metres at 4.77 g/t gold and 0.61% copper next door.

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Company shares recently started trading on the OTCQB Venture Market in the US

Artemis Resources Ltd (ASX:ARV) will commence exploration at its 600-square-kilometre Armada Project in the Patersons Range region of Western Australia.

The project surrounds Greatland Gold PLC’s (LON:GGP) Haverion Project on three sides, where drilling this year discovered 121 metres at 2.93 g/t gold and 0.23% copper.

A review of all geophysical data from Armada has been completed with magnetic features in coarse airborne magnetic data confirming structures of interest exist.

A high resolution airborne magnetic survey is being planned.

READ: Artemis Resources Ltd begins trading on OTCQB Venture Market in the US

Artemis’ executive director Ed Mead said: “With increasing newsflow about Rio Tinto’s exploration efforts in the Patersons Range and the recent excellent gold/copper results from Greatland Gold’s Haverion Project that is contiguous to Artemis’ Armada Prospect, the time to further investigate our ground is right. To kick off our exploration in this highly prospective region a detailed high resolution magnetic survey will now commence.”

Armada is located in a region featuring several known mineral discoveries.

These include Newcrest Mining Limited’s (ASX:NCM) large Telfer gold-copper mine and O’Callaghan’s tungsten-copper deposit and Metals X Limited (ASX:MLX) Nifty Copper Mine.

Quick facts: Artemis Resources Ltd

Price: 0.135 AUD

ASX:ARV
Market: ASX
Market Cap: $153.46 m
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