- Artemis Resources (ARV) advises drilling has gotten underway at its jointly owned Munni Munni Project near Karratha, WA
- Platina Resources (PGM) has a 30 per cent interest in the project while Artemis owns the remaining 70 per cent and is the operator
- The companies believe Munni Munni plays host to one of Australia’s largest undeveloped palladium deposits
- The potential, combined with sky high palladium prices, has prompted ARV and PGM to carry out a 10-hole exploration program
- Around 2500 metres of reverse circulation drilling will be undertaken across Munni Munni, to help assign the project a JORC compliant resource
- Shares in Artermis are trading up 6.45 per cent at 9.9 cents, while shares in Platina are down 2.63 per cent at 7.4 cents
Artemis Resources (ARV) advises drilling has gotten underway at the Munni Munni Project near Karratha, Western Australia.
The project is jointly owned, with Platina Resources (PGM) holding a 30-per-cent interest in the project while Artemis owns the remaining 70 per cent and is also the operator.
Both owners believe Munni Munni plays host to one of Australia’s largest undeveloped palladium deposits, as well as endowments of platinum, gold and rhodium.
This potential, combined with sky-high palladium prices, has prompted ARV and PGM to carry out a 10-hole exploration program.
“Given the significant increase in the price of palladium, gold and rhodium during the last year, this has enhanced the number of options available to create value from the project,” Platina Managing Director Corey Nolan said.
“Platina is working very constructively with Artemis to assess a number of mutually beneficial options to realise value from the project,” Corey added.
Around 2500 metres of reverse circulation drilling is going to carried out in total across Munni Munni, to help assign the project a JORC-compliant resource.
Specifically, ARV advised the drilling will infill the current RC drill spacing in the main resource to a nominal 50 metres.
The company said this will help demonstrate the continuity and consistency of grades of the resource.
Shares in Artermis Resources are trading up 6.45 per cent at 9.9 cents per share, while shares in Platina Resources are down 2.63 per cent at 7.4 cents per share at 3:11 pm AEST