Artemis quick to identify high grade copper zones
Emerging gold, base metals and cobalt miner, Artemis Resources (ASX: ARV) has released highly promising assay results from the first eight holes of a 20 hole drill program at the Whundo copper mine which is located only 15 kilometres from the company’s recently acquired Radio Hill mine and processing plant.
Previous mining in the area had identified copper zones at shallow depths, and management’s drilling program was aimed at validating historical drill results and exploring conceptual previously untested target zones.
The confirmation of substantial widths of high grade copper zones at shallow depths is a promising development for ARV as it executes on its broader plan of establishing a diversified mining operation in the Radio Hill area which lies only 35 kilometres to the South of Karratha in the Pilbara region of Western Australia.
However, it should be noted that the company is an early stage play and investors should seek professional financial advice before making an investment decision.
The company owns the fully permitted 425,000 tonnes per annum Radio Hill nickel and copper operations, processing plant and associated mining and exploration tenements with significant existing JORC 2004 compliant resources of nickel, copper and zinc situated within a 15 kilometre radius of the plant.
Given the quality of the following assays and the prospect of further promising results from the other 12 holes, ARV’s share price could receive a further boost on the back of a 30% increase over the last fortnight.
Commenting on this recent development, ARV’s chairman David Lenigas said, “The company’s plan is to expand the available oxide tonnages at Whundo to either increase the ore supply deal to the Whim Creek SX-EW plant or look at establishing an on-site oxide treatment operation at Radio Hill itself.”
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of Longhou Capital Markets Pty Ltd (AFSL No. 292464). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.