West Australian prospector Artemis Resources (ASX:ARV) is the latest market junior scrambling to gain a slice of the action at the coveted Paterson province, touting a fresh round of exploration at its co-located Armada prospect.
With rumours swirling around a potentially game-changing copper discovery by Rio Tinto and London-based prospector Greatland Gold unveiling a blistering 275m intersection at 4.77 grams per tonne gold and 0.61 per cent copper, the Patersons province in the East Pilbara is fast becoming the nation’s hottest piece of geology.
Artemis finds itself in the box seat for nearology success having submitted its Exploration License Application for the Armada prospect just three hours before Rio Tinto in July this year.
The rush to hit paydirt continues with Artemis Resources completing a review of geophysical data and planning a further high-resolution airborne magnetic survey.
The Armada prospect covers a sizeable 600km2 and lies just 40km east of the ageing Telfer Gold-Copper mine. The junior is quick to quip that its prospect is also adjacent to the Haverion discovery on three sides.
Commenting on the nearology credentials of its prospect, 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.”
The airborne magnetic survey will see high-resolution equipment flown at Armada at a height of 35-40 meters, with 100m spacing.
Results will be closely watched as the market continues to awaken to opportunities to be unlocked within the province.