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Pacton, Artemis to forge processing JV for Radio Hill

Pacton Gold Inc. signed a memorandum of understanding for a strategic alliance with Artemis Resources Ltd. to use the latter's Radio Hill processing plant in Western Australia on a nonexclusive basis.

The companies will determine how to advance operations and processing infrastructure at Radio Hill. Commercial terms for any processing arrangement are subject to a formal deal.

The company said Oct. 17 that the alliance could rapidly advance Pacton's projects through substantial bulk sampling and production-scale testing of gold mineralization.

Pacton interim President and CEO Alec Pismiris said, "The strategic processing alliance with Artemis provides a far reduced upfront capital cost of evaluating near term development opportunities within the Pilbara."