Additionally, they will to look into the potential for Artemis to explore gold mineralisation on tenements held by Anax.
“We are thrilled to collaborate with Anax Metals on the Pilbara copper alliance via this MoU and expand our own potential for gold exploration,” said George Ventouras, executive director of Artemis.
“The West Pilbara region of Western Australia is an exciting jurisdiction to be operating in and this initiative allows each company to focus on its strengths and on delivering results for all stakeholders.”
Other possible MOU benefits outlined by the companies include a reduction in project and fixed costs, better open-pit mining contract rates and more favourable funding and offtake terms.
As mentioned, the MOU is for a period of one year, during which time Artemis and Anax’s work will include setting up terms for a legally binding agreement regarding the process of Artemis’ copper at Whim Creek.
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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