Gold explorer Artemis Resources (ASX:ARV) has been successfully plucking nuggets to the tune of 1,282.2 grams of gold from its 47K Patch prospect and has just received the go-ahead from the WA Department of Mines, Industry Regulation and Safety for further big tonnage exploration.
The approved Programme of Works will see large-scale exploration commence at 47K Patch, located about 30km south of Karratha – an area emerging as one of Australia’s hottest gold exploration provinces.
Earth moving equipment is already on site and bulk sample locations will start to be identified over the next week, the company reported.
Artemis has received a 9,600 tonne excess tonnage permit, which will see sampling from the gold conglomerate processed by the company’s nearby and fully-permitted Radio Hill plant.
Exploration at 47K Patch by Artemis Resources has recovered nuggets from a 20 metre by 6 metre by 1.5 metre deep area.
The area had been the focus of prospectors over the previous two years and the gold discoveries recovered by Artemis were completed during rehabilitation work.
Getting approvals granted from the [Department of Mines, Industry Regulation and Safety] to start serious exploration on our gold bearing 47K Patch is very exciting,” David Lenigas, Artemis Resources executive chairman said.
“We can now get to work on taking and processing big tonnage bulk samples in the 100 tonne to 1,000 tonne per sample range.
“This work will give us a much better understanding of gold grades and gold size distribution,” he said.
In addition to the approved Programme of Works, Artemis has teamed up with CSIRO and is commencing a research programme into the formation of the gold conglomerate.
In February this year the company announced its intention to drill a “super-deep” hole to a depth of over 3,300 metres in the Pilbara to assist in identifying the conglomerate gold source.
Investors continue to follow the Pilbara gold story closely, with shares in Artemis Resources shooting up approximately nine percent, which sees the company trading at approximately 18.5 cents per share.
