Positive Pit Optimisation Outcome on Weerianna Gold Project - Karratha, Western Australia -
Highlights: • Weerianna gold deposit Mineral Resource estimate of 1 million tonnes at 2.2 g/t Au was optimized at a gold price of A$1,650/oz to assess potential first 4 months of Radio Hill Processing Plant feed options, at the rate of 50,000 tonnes per month, from June 2018. • 2 Initial starter pits resulted. • East (Stage 1) Pit which included 184,735 tonnes at a grade of 2.01 g/t Au at a strip ratio of 1.5:1; and • North West Pit which included 90,908 tonnes at a grade of 2.96 g/t Au at a strip ratio of 5.9:1. • The Weerianna deposit is located only 35 km from Artemis’ 100% owned Radio Hill Plant.
David Lenigas, Artemis’s Executive Chairman, commented;
“As announced last week, Artemis is reviewing all of its projects in the Karratha area to prioritise potential plant feed for the Radio Hill Plant in readiness for its recommissioning scheduled for June this year. Current plans are to kick-off with a gold only strategy to commission the plant’s new gold circuit for a number of months. Weerianna, Silica Hills and the gold bearing conglomerates in the area are all currently being assessed. These results from Weerianna are positive and now allows us to move forward with seeking approvals from the authorities to have Weerianna ready for mining by the end of June.”
Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV) advises that it has received positive results from pit optimisations of its Weerianna Gold Project’s Mineral Resource. The optimisation was done to potentially prioritise initial plant feed of Artemis’ Radio Hill Processing Plant at the rate of 50,000 tonnes per month for the first few months after its re-commissioning scheduled for June 2018.