Western Australian Pilbara prospector Artemis Resources (ASX:ARV) has completed a record quarter for exploration as the miner grows hungry to feed the pending launch of its Radio Hill processing plant.
Headlining the company’s exploration activity were three resource upgrades over the period and a massive ~33,000m of drilling conducted across eight of its prospects.
In addition, three new gold discoveries were made within 30km of the Radio Hill process plan.
Artemis has confirmed that another upgrade at its flagship Carlow Castle gold-copper-cobalt project is also in the works, with the market expecting an update in February 2019.
Commenting on the company’s strategy of active exploration Artemis executive chairman David Lenigas said:
With respect to the restart of Radio Hill, resource definition and geo-metallurgical programmes remain the key determinants of the timing to production. To underpin commencement of operations, Artemis is working towards defining at least 3 years of plant feed from within the company’s extensive gold and base metal assets or equivalent tonnages of gold ore from third-parties or joint ventures.
“As such it is prudent to concurrently advance resource development and geo-metallurgical studies on Carlow Castle Au-Cu-Co and Whundo Cu-Zn Projects and evaluate third-party gold ore toll treatment options prior to completion of the Radio Hill refurbishment,” he said.
Radio Hill is the only independently owned processing plant in the Pilbara region, with Artemis confirming the site refurbishment is approximately 80 percent complete.
Artemis aims to bring the site to final completion pending approvals for its tails storage facility, as well as securing 2-3 years of plant feed.
The miner will look to establish mine feed from its own tenements as well as through corporate activity, with Artemis already holding a strategic processing alliance agreement with fellow Pilbara gold player Pacton Gold.
The company also holds a 50-50 joint venture with conglomerate gold group Novo Resources for the Purdy’s Reward project which has delivered a bounty of gold nuggets.
