Artemis Resources has acquired Rincon Resources and its South Telfer project, which lies 12 kilometres from Newcrest Mining’s Telfer mine in the Pilbara, Western Australia.
The move comes as Artemis looks to expand its holdings within the highly prospective Paterson Province, taking its total land ownership in the region to 1140 square kilometres.
Artemis is now one of the largest landholders in the Paterson Province, a region which has seen Rio Tinto’s recent gold and copper Winu development as well as Greatland Gold and Newcrest’s Havieron discovery.
Newcrest previously drilled over 200 holes for 22,000 metres at the South Telfer site, which identified outcropping mineralisation at the Hasties prospect and large gold anomalies at Westin.
Newcrest did not follow up any of these prospects, with the company dropping its tenement holdings in 2002 as it closed the Telfer pit operations and focused on the feasibility of its underground mine.
Artemis executive director Ed Mead said the Rincon Resources acquisition allows the company to solidify its presence in the region.
“Artemis considers this land to hold tremendous opportunity, especially as the Newcrest mine is slowing down and may be looking for new nearby ore-sources,” he said.
“Structural targeting will be completed once all datasets are consolidated, utilising the significant and quality data available.”
The acquisition also gives Artemis ownership of another two sites which includes the Laverton gold project and the Kiwirrkurra project, which are both located in Western Australia.