Cory should have probably announced this not me.Anyways
• 13 hole, 1,820m RC drilling program has commenced at Munni Munni. • The program is designed to: • Extend primary reef mineralisation and test historical assay grades from diamond drilling using RC drilling. • Test for the presence of a second reef below the primary PGE reef. • Generate data that may contribute to a JORC 2012 Mineral Resource Estimate in the future. • High resolution air-photography to provide detailed images for future project planning purposes. • Detailed survey of the holes drilled in this program will be completed plus re-survey of approximately 10% (20 holes) of historical holes to validate hole data assisting in JORC 2012 Mineral Resource Estimate. • Proposed transaction announced 28 April 2020 (“Empire Transaction”) is still in progress and current and future project parties are working constructively
“It is terrific to be back exploring at the Munni Munni PGE Project. Drilling using an RC rig is designed to grow the footprint of the known reef-style PGE mineralisation and test for, what our technical team believes, may be a second reef below and subparallel to the primary reef. Whilst the previously announced Empire Transaction regarding the proposed sale of 51% of the Company’s 70% beneficial interest in the Munni Munni PGE Project Joint Venture (to be effected through the sale of a 72.9% shareholding interest in the Company’s wholly owned subsidiary Munni Munni Pty Ltd (“MMPL”)) has yet to close, we and our 30% partner in the Munni Munni PGE Project Joint Venture, ASX-listed Platina Resources (PGE.AX) Limited (“Platina”) believe it is imperative to keep the Project moving forward with the stated aim of generating a JORC 2012 resource as soon as practicable. Our prospective partners in the Empire Transaction are also supportive of this programme.” “Artemis, through the proposed Empire Transaction, would retain both direct and indirect exposure to the Munni Munni PGE Project via becoming the single largest shareholder in Empire Metals Limited (“LON:EEE”) for its 58.6% in MMPL, which will continue to hold a 70% interest in the Munni Munni PGE Project, and retain a 27.1% shareholding in MMPL, free carried to completion of a Bankable Feasibility Study.”
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(20min delay)