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DIGGERS & DEALERS PREVIEW REFINING THE GOLD STANDARD abcrefinery.com

Going for gold in the Paterson

by Fraser Palamara

any explorers had written off Western Australia’s However, Clayton is quick to point out otherwise, explaining
MPaterson province before Greatland Gold plc struck how he never underestimated the Paterson while others
a $US65 million JV to explore Newcrest Mining Ltd’s 52mt forgot it existed, using Telfer – which originally suspended
Havieron gold-copper project in 2019. open cut mining 21 years ago – as an example.
Suddenly, the region went from a ghost-like memory to “If you had been to a geologist wine and cheese night over
hot real estate. It now boasts Rio Tinto Ltd’s Winu copper the last 20 years and you asked people what the largest gold
discovery and the revitalised 24 moz Telfer gold mine. mine was in Australia, I would think over half would have
A flurry of smaller cap explorers have also joined the forgotten about Telfer,” he said. “Simply, it kind of sat out
fray, including St George Mining Ltd, Antipa Minerals Ltd, there on its own.
Carawine Resources Ltd and Red Metal Ltd, in an effort to “If Telfer wasn’t such a lonely beast out there in the desert,
take advantage of Havieron “nearology”. it could have been a much more high-profile operation. So,
The company with perhaps the strongest claim to “nearology” with that in mind, we saw what was going on with Greatland
is Artemis Resources Ltd with its Paterson Central gold- pretty early…we saw what they were up to in 2018.”
copper project breathing right on the neck of the Havieron The Greatland-Newcrest JV will process the spoils at the
deposit. If you ask Artemis executive director Alastair Clayton Telfer mine only 45km from Havieron, an opportunity that
how the company was able to nab a 605sq km tenement Artemis wants in on but without having to share the prizes
amidst the likes of Rio Tinto and Newcrest, he’ll give you an from underground.
answer showing both humility and honesty.
“We own 100% of our tenement and that is not by accident,”
“You need a bit of good luck, and there’s always a story to tell Clayton said.
there about beating Rio Tinto by 20 minutes and getting our
“I know there has been a big trend towards doing joint
application in,” he told GMJ.
ventures and that’s terrific.
Artemis recently raised $10 million to drill at Paterson for this
“I do think that there is a misconception out there, that people
year and Clayton bursts with praise for the region.
think ‘well Artemis hasn’t done a JV, their ground must be
“At the risk of hyperbole…it has to be the best gold-copper rubbish’. I would just point out that it is the exact opposite.
play in the world, if you risk adjust it for being in Western We have had lots of offers from people to get involved at
Australia and not West Africa,” he said, entertaining an asset level. The simple facts are that we are paid to drill
hypotheticals. holes and that’s what we’re going to do.”
“I genuinely think that the Paterson has the chance to be a And drill holes Artemis will – once it gets the chance.
checkerboard of investments like the Pilbara was for iron ore
An unexpected rainy season in WA’s north-west put Artemis,
back in the 1960s and 70s. Show me a better opportunity.”
and others, on the back foot for a month, leaving a long line
Artemis’ place among the heavy hitters – its market cap of explorers itching to get approval from Native Title groups
is $76.55 million compared to Newcrest’s $22.46 billion – of the Martu people.
might lead to suggestions the explorer was in over its head.

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