Monday, June 25, 2018

Artemis & Novo to plough $5.4m into Pilbara

ASX-listed Artemis Resources and JV partner, Novo Resources NVO.v, will commence a $5.4m exploration program at their shared conglomerate and paleoplacer gold projects near Karratha, in the west Pilbara of W.A. The Artemis-Novo 50/50 JV agreement dates to August last year and provides for Novo to farm into 50% of the gold in conglomerate and/or paleoplacer style mineralization in Artemis’ tenements, which are within 100km of Karratha. The farm-in commitment of A$2m by Novo was met last December, consummating the JV agreement. Artemis reported the progress of its super-deep +3,300 metre diamond hole, 50km south of the company’s Radio Hill processing plant.