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Artemis Resources - Patersons Research Note - Spec Buy
Event
- Artemis Resources (ARV) announced its Maiden JORC resource estimate for the Taipan zone at its Eastern Hills Antimony-Lead Project located in the Ashburton region of Western Australia.
- The resource totaled 1.3Mt at 1.7% Sb, 2.5% Pb, 24g/t Ag and 0.34g/t Au and includes an indicated component of 0.8Mt at 2% Sb, 3.1% Pb, 26g/t Ag and 0.41g/t Au
- The Taipan Zone has an 850m strike length, remains open at depth and to the east.
- Potential for resource additions with the recently discovered Dugite, Tiger and Gwardar Zones
- Dugite Zone of high grade Sb-Pb-Ag-Au results expected to add to resource inventory
- Potential mineralisation extends for another 2km strike length in these zones
- Scoping Study to commence early 2014
Impact
- Maiden Resource Exceeds Expectations: The maiden JORC resource exceeded the previous exploration target range of 410kt-1.25Mt at 1.5-1.9% Sb. We calculate at current prices this is equivalent to a 6g/t gold deposit and has a Sb Eq. grade of 2.4% Sb. Positively, 71% of the Mineral Resource is in the indicated category. The project is larger than the Wild Cattle Creek project which was purchased by Chinese interests for $15.5m in 2011 (Figure 1). The larger Hillgrove deposit was sold for $35m earlier this year.
Full Article
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Artemis Resources Ltd.
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PRODUCER |
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CODE : ARV.AX |
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ProfileMarket
IndicatorsVALUE :
Projects & res.Press
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Asset profileContact Cpy |
Artemis Res. is a gold exploration company based in Australia. Artemis Res. produces gold, nickel in Australia, and holds various exploration projects in Australia and in Niger. Its main asset in production is BAMBOO CREEK in Australia and its main exploration properties are YILGARN PROJECT, MT CLEMENT and YANDAL in Australia and COMINAK, SOMAIR and TAGAZA in Niger. Artemis Res. is listed in Australia. Its market capitalisation is AU$ 5.2 millions as of today (US$ 3.3 millions, € 3.1 millions). Its stock quote reached its highest recent level on December 11, 2015 at AU$ 2.50, and its lowest recent point on January 20, 2017 at AU$ 0.00. Artemis Res. has 287 160 000 shares outstanding. |