ASX-listed Artemis Resources has invested the required $750 000 to earn a 70% interest in the Munni Munni project, in the West Pilbara, from fellow ASX-listed Platina Resources.
The joint venture (JV) partners will now target gold mineralisation within the Munni Munni land package.
The project, which is contiguous to Artemis’ other tenements and about 20 km from its Radio Hill operations, holds Australia’s largest Joint Ore Reserves Committee-compliant palladium resource, but Artemis has identified potential gold opportunities within the project area.
A Sub-Audio Magnetics survey and a Z-Axis Tipper Electromagnetic survey have recently been completed. Artemis and Platina’s geologists will review the recent work completed at the project to determine a gold focused work programme to test the structural setting for possible conglomerate or paleo-placer gold targets.
RADIO HILL
Meanwhile, Artemis on Monday further reported that it had now received all approvals required for the installation and commissioning of new gold circuit infrastructure at its Radio Hill mine.
Construction teams will immediately proceed with the installation of all Stage 1 gold circuit infrastructure, including a modular gravity gold processing unit and associated crushing and milling equipment.
The Radio Hill Stage 1 operation will have a throughput capacity of 500 000 t/y.
Artemis also plans to advance submissions for licence approvals needed for Stage 2 base metals operations at Radio Hill.
“Being able to treat gold ores is a new capability for Radio Hill and this enhancement ties directly into our strategic plan to expand the operational flexibility of the Radio Hill operations,” Artemis CEO Wayne Bramwell said.
The gold circuit will be commissioned in November.