Earn-in by Artemis Resources
The Panorama Gold Project encompasses Exploration Licence E45/4732 and Exploration Licence application E45/4779 held by MLi, and Exploration Licence E45/4764 which MLi has entered into an option agreement to acquire 100% of the tenement.
The Panorama Gold Project is located 265km south-south-east of Karratha in the Pilbara Region of Western Australia. The project is prospective for lithium and gold hosted within conglomerate. The tenement group contains an extensive area of the Mt Roe Basalt which is the geological member of the Fortescue Group that overlies the conglomerate gold horizon at Artemis Resources’ Purdy’s Reward Project near Karratha, Western Australia.
On September 28, 2017 the Company entered into a binding term sheet with ASX listed Artemis Resources Limited (ASX:ARV) (“Artemis”) for Artemis to earn-in up to 80% interest in two tenements of the Panorama Gold Project, E45/4779 and E45/4732. Artemis are specifically interested in the conglomerate gold potential of these two large tenements covering a total of 265km2. Artemis has advised it will shortly commence a stream sediment sampling program with a focus on identifying a prospective conglomerate hosted gold horizon.