- Artemis Resources (ARV) and Platina Resources (PGM) formalise a joint venture following new drill results from the Munni Munni Project in Western Australia
- The companies are particularly pleased with the platinum group element. results which show grades of up to 1.76g/t palladium and 1.11g/t platinum
- This has led to entering a joint venture with Artemis holding a 70 per cent interest and Platina owning the remaining 30 per cent
- Moving forward, Artemis and Platina will work together to better understand the project’s potential
- Artemis’ shares are trading steady at 6.1 cents, while Platina’s shares are down 5.43 per cent and trading at 8.7 cents
Artemis Resources (ARV) has provided an exploration and joint venture update for the Munni Munni Project in Western Australia.
The company received drill results from a 15-hole, for 2740 metres, drilling program completed over April and May.
This program aimed to further confirm the position of the platinum group element (PGE) horizon around the northern part of the Munni Munni mafic intrusive complex.
Results include four metres at 1.76 grams of palladium per tonne (g/t), 0.89g/t platinum, 0.22g/t gold from 115 metres, four metres at 1.31g/t palladium, 0.85g/t platinum, 0.29g/t gold from 60 metres, and nine metres at 1.04g/t palladium, 0.54g/t platinum, 0.09g/t gold from 117 metres.
Executive Director, Alastair Clayton, said these results suggest the opportunity to further grow the mineralisation footprint with further drilling and exploration.
“These solid drill results, including some from the eastern portion of the project area further highlight to pervasive nature of the stratigraphically-controlled palladium, platinum and gold mineralisation at Munni Munni,” Mr Clayton said.
“I am also delighted to be able to report that, following a constructive period of dialogue, we have now formalised the formation of a joint venture at the Munni Munni Project.”
Artemis Resources and fellow ASX-listed, Platina Resources (PGM), have formalised their joint venture agreement for the Munni Munni Project. Artemis owns a 70 per cent stake while Platina owns the remaining 30 per cent.
Platina Resources’ Managing Director, Corey Nolan, said the company’s confidence in the project increased after today’s drill results were released.
Moving forward, Artemis and Platina will work together to better understand the potential for the Munni Munni Project and come up with a strategy to create value for shareholders.
Artemis’ shares were trading steady at 6.1 cents at 11:30 am AEST. Platina’s shares were down 5.43 per cent and shares were trading at 8.7 cents at 11:30 am AEST.