Artemis Resources Ltd - Western Australia-focused gold, copper and lithium explorer - Says that an independent technical review at the firm's wholly-owned Paterson Gold project in Western Australia has identified a new priority target, dubbed Apollo North, via gravity anomaly. The target, or Hole 22PTMRD011, was found to have intercepted the same lithotypes and similar mineralisation as Havieron, which is a copper-gold discovery held by Newmont Mining Corp and Greatland Gold PLC. Artemis is now considering options to advance the project, including joint ventures and third party funding.
Executive Director George Ventouras says: "With the drilling and reconnaissance work previously undertaken, the project is ripe for additional work to unlock further potential mineralisation. While exploring at depth requires additional resources and capital, as can be seen from the nearby Havieron discovery, the upside may be considerable."
Current stock price: 0.80 pence, down 5.8% in London on Wednesday afternoon
12-month change: down 18%
By Holly Beveridge, Alliance News reporter
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Artemis Res (ARV)