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Northern Star buys Mt Clement

21st July 2020

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Junior Artemis Resources has struck an agreement with joint venture (JV) partner Northern Star Resources to divest of its 80% interest in the Mt Clement gold project, in Western Australia.

Under the terms of the agreement, Artemis will be paid A$344 000 in cash and will retain a 1% net smelter royalty over the project area.

Artemis executive director Alastair Clayton on Tuesday said that the transaction with Northern Star represented another step in the company’s ongoing noncore project divestment programme.

The deal with Northern Star followed an April agreement with Novo Resources Corporation for the A$4.8-million sale of Artemis’ interest in the Purdy’s Reward and 47K Patch gold projects.

The Mt Clement project is 30 km from Northern Star’s Paulsens gold mine, and is estimated to host a Joint Ore Reserves Committee-compliant resource of 64 400 oz of gold and 618 500 oz of silver.

Edited by Creamer Media Reporter

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