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RNS Number : 0481S Artemis Resources Limited 12 June 2024
12 June 2024
Artemis Resources Limited
("Artemis" or the "Company")
Rock chip ASSAYS return 6.93 g/t Au and 10.85% Cu,
multiple Gold nuggets discovered
Highlights:
· Recent ground reconnaissance confirms prospective gold and copper
targets across Artemis' licence tenure
· Nickol River Hill South delivers high grade gold assay of 6.93 Au g/t
in rock chips, inclusive of a peak copper assay of 10.85% Cu
· 21 gold nuggets observed at Sing-Six prospect in surficial cover with
physical characteristics suggesting close to hard rock source
· Further exploration plans under development
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to announce positive results from a ground reconnaissance program
testing gold targets within the Company's tenure located in the Pilbara region
of Western Australia.
Executive Director George Ventouras commented: "We are very pleased with the
results of this small program as we begin to delve into the prospectivity of
the numerous gold targets contained within our tenements.
Numerous targets have been identified and we are planning to conduct further
work around each of these as well as seeking to extend the known mineralised
areas across the tenements. We believe further work will result in the
delineation of additional prospects that will be developed into attractive
drill targets."
Figure 1. Artemis tenements in the West Pilbara.
Figure 2. Artemis tenements in the West Pilbara and current gold prospects.
Ground reconnaissance work was undertaken as part of the Company's initial
exploration across known historic gold occurrences to assist with validation
of some target areas.
This work has confirmed mineralisation in association with multiple
licence-wide structural trends.
Figure 3. Location of significant rock chip assay results and gold nuggets
with structures and faults noted
Figure 4. Iron-oxide-quartz rock chip sample (24AR05-024) collected from
mullock heaps around historic workings at the Nickol River Hill South
prospect, featuring assay results of 6.93 g/t Au, 88.6 g/t Ag, 10.85% Cu and
7.54% Zn
The rock chips collected were taken proximate to previously identified
targets, including specimens taken from historic workings to confirm
mineralisation at these locations.
Significant rock chip assay results received from the recently completed field
program are listed in the table below.
Location Sample No Easting Northing Au GPT Cu% ZN% Ag GPT
Nickol River Hill South 24AR05-024* 495471.00 7686229.00 6.93 10.850 7.540 86.6
Sing-Well prospect 24AR05-039 499039.00 7695747.00 3.27 0.008 0.062 0.39
Sing-Six prospect 24AR05-038* 497985.00 7695133.00 1.51 0.004 0.002 0.22
Orpheus Prospect 24AR05-044 499775.00 7687406.00 0.89 1.850 6.980 9.44
Lulu Creek prospect 24AR05-031 487025.00 7695845.00 0.65 0.003 0.004 7.15
Sing-Six Prospect 24AR05-037 498045.00 7695294.00 0.45 0.030 0.013 0.21
Lulu Creek Prospect 24AR05-028 489391.00 7696489.00 0.23 0.014 0.033 0.52
*Indicates rock chip sample taken from Mullocks pile.
Table 1. Highlighted rock chip assay results
These rock chip sampling results are encouraging with anomalous results across
the Company's portfolio of prospects. Artemis is particularly pleased to have
encountered multicommodity results at the Nickol River Hill South prospect,
strong gold and silver results at the Lulu Creek prospect and significant
gold at the Sing-Six/Sing Well prospect.
The mineralisation occurs as veining which appears to be structurally
controlled and associated with multiple shear zones. These shear zones appear
to form major structural corridors across the licence area. Assessment of
these structural corridors will form the basis of forthcoming field
activities.
Sing-Six Gold Nuggets
A very preliminary assessment for coarse grain gold in surface cover was
completed using a gold detector at the Sing-Six prospect. This work tested a
relatively small area of approximately 25m x 25m in proximity to historic hard
rock gold vein workings.
Results returned 21 gold nuggets (totalling 9.7gms) up to 15mm in width.
The physical characteristics of the gold include a majority with a high degree
of angularity which indicates that they are very close and/or proximal to the
likely hard rock source.
Furthermore, some of the gold nuggets occur with attached quartz and iron
oxides which compare to the mineralogy of the nearby gold bearing veins.
The Company views the discovery of these nuggets as a tool to assist with
near-surface targeting of hard rock gold occurrences, which is now being
considered.
Figure 5. Twenty-one gold nuggets collected (sample 24AR06-001) from the
Sing-Six Prospect using metal detector. The physical characteristics of
these nuggets indicate a likely 'close to source' relationship and how the
discovery of these nuggets can further assist surface targeting toward in-situ
and hard rock gold occurrences is currently being evaluated.
Next Steps:
Following the completion of this small reconnaissance program, the Company now
plans to execute further field programs to evaluate these broad structural
zones and these emerging targets.
Furthermore, consideration is being given to expand exploration and build upon
the existing resource at Carlow which contains a mineral resource estimate of
704,000oz Au/Eq(1).
Results from this preliminary program have also provided further confidence
for future drilling programs and an initial first target area to be drilled is
the Lulu Creek prospect, for which the Company was the recipient of a
government grant for co-funded drilling(2).
The Company continues to progress plans to undertake heritage surveys covering
the Lulu Creek gold prospect and the Mt Marie lithium prospect. Further
updates will be provided shortly with the commencement dates for these
surveys.
This announcement was approved for release by the Board.
For further information on the Company, please
visit www.artemisresources.com.au (http://www.artemisresources.com.au/) or
contact:
Artemis Resources Ltd
Guy Robertson, Chairman info@artemisresources.com.au
George Ventouras, Executive Director
WH Ireland Limited (Nomad & Broker)
Antonio Bossi / James Bavister / Isaac Hooper Tel: +44 20 7220 1666
About Artemis Resources
Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a gold, copper and
lithium focused resources company with projects in Western Australia. The Mt
Marie Lithium Prospect, the Osborne Lithium JV (Artemis 49%; GreenTech Metals
(ASX:GRE) 51%) and the Karratha Gold Project (inclusive of the Carlow
gold-copper-cobalt project) in the West Pilbara; and the Paterson Central
Gold/Copper project in the Paterson Province (located adjacent to Greatland
Gold / Newmont's recent gold-copper discovery at Havieron and only ~42km from
the Newmont Telfer gold mine).
Artemis also owns the Radio Hill processing plant, located only 35km from
Karratha.
For more information, please visit www.artemisresources.com.au
(http://www.artemisresources.com.au)
(1)ASX Announcement, Artemis Resources Ltd, 13 October 2022
(2)ASX Announcement, Artemis Resources Ltd, 13 November 2023
Competent Person Statement
The information in this report that relates to exploration results was
prepared by;
Mr Oliver Hirst, a Competent Person who is a member of the Australasian
Institute of Mining and Metallurgy (MAusIMM). Mr Hirst is a technical
consultant to Artemis Resources. Mr Hirst has sufficient experience that is
relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves". Mr Hirst consents
to the inclusion in this report of the matters based on his information in the
form and context in which it appears.
Adrian Hell, BSc (Hons), an advisor and consultant to the Company, is a Member
of the AUSIMM, and has sufficient experience which is relevant to the style of
mineralisation and type of deposit under consideration to qualify as a
Competent Person as defined in the 2012 edition of the 'Australasian Code for
Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Adrian
Hell consents to the inclusion in the report of the information in the form
and context in which it appears.
No New Information
To the extent that this announcement contains references to prior exploration
results and Mineral Resource Estimates for the Carlow Gold/Copper Project
which have been cross referenced to previous market announcements made by the
Company, unless explicitly stated, no new information is contained. The
Company confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcements and, in the case of estimates of Mineral Resources, that all
material assumptions and technical parameters underpinning the estimates in
the relevant market announcements continue to apply and have not materially
changed.
Appendix
Table 1 Rock chip assay results from the 2024 field reconnaissance work
Sample_No Tenement Easting Northing RL Au ppm Cu ppm Zn ppm Ag ppm
24AR05-001 E 47/1746 499809 7687476 52 0.01 1,295.00 26.60 0.05
24AR05-002 E 47/1746 499809 7687474 55 0.05 111.50 99.10 0.52
24AR05-003 E 47/1746 499822 7687444 58 0.005 27.20 24.50 0.03
24AR05-004 E 47/1746 499451 7687157 60 0.005 36.30 69.10 0.17
24AR05-005 E 47/1746 499447 7687139 60 0.005 20.90 67.70 0.02
24AR05-006 E 47/1746 499444 7687092 63 0.01 13.05 13.20 0.01
24AR05-007 E 47/1746 498812 7686919 63 0.005 57.30 41.80 0.05
24AR05-008 E 47/1746 498833 7686951 62 0.005 26.20 40.00 0.03
24AR05-009 E 47/1746 498820 7686916 60 0.005 30.40 14.10 0.04
24AR05-010 E 47/1746 498796 7686857 62 0.005 11.40 7.30 0.07
24AR05-011 E 47/1746 498790 7686861 58 0.005 7.67 11.80 0.03
24AR05-012 E 47/1746 497690 7687006 55 0.04 3.23 4.30 0.02
24AR05-013 E 47/1746 496894 7686649 55 0.04 80.10 171.00 0.08
24AR05-014 E 47/1746 496890 7686660 54 0.005 21.50 72.10 0.09
24AR05-015 E 47/1746 495126 7685345 54 0.005 11.40 281.00 0.13
24AR05-016 E 47/1746 495150 7685374 53 0.05 434.00 310.00 0.59
24AR05-017 E 47/1746 495465 7686219 47 0.02 333.00 7,960.00 0.31
24AR05-018 E 47/1746 495450 7686237 75 0.005 163.00 94.90 0.06
24AR05-019 E 47/1746 495447 7686246 59 0.005 1,095.00 54.10 0.11
24AR05-020 E 47/1746 495492 7686273 56 0.005 8.64 94.90 0.03
24AR05-021 E 47/1746 495488 7686259 56 0.005 14.25 17.40 0.04
24AR05-022 E 47/1746 495481 7686244 57 0.005 16.70 21.20 0.02
24AR05-023 E 47/1746 495477 7686236 56 0.16 1,335.00 6,250.00 3.52
24AR05-024* E 47/1746 495471 7686229 57 6.93 108,500.00 75,400.00 86.60
24AR05-025 E 47/1746 495451 7686181 54 0.005 30.80 49.10 0.05
24AR05-026 E 47/1746 495474 7686161 54 0.005 109.50 146.00 0.08
24AR05-027 E 47/1746 489398 7696497 52 0.04 1,535.00 1,055.00 1.24
24AR05-028 E 47/1746 489391 7696489 55 0.23 138.50 332.00 0.52
24AR05-029 E 47/1746 489391 7696490 55 0.005 5.61 10.40 0.01
24AR05-030 E 47/3719 488200 7695928 37 0.005 71.30 40.80 0.14
24AR05-031 E 47/3719 487025 7695845 38 0.65 34.60 35.10 7.15
24AR05-037 E 47/1746 498045 7695294 50 0.45 304.00 129.50 0.21
24AR05-038* E 47/1746 497985 7695133 43 1.51 40.10 24.30 0.22
24AR05-039 E 47/1746 499039 7695747 63 3.27 75.20 622.00 0.39
24AR05-040 E 47/1746 499449 7695664 52 0.01 655.00 80.70 0.08
24AR05-041* E 47/1746 499448 7695662 51 0.04 6.44 42.00 0.04
24AR05-042 E 47/1797 505873 7699464 43 0.02 8.40 36.50 0.04
24AR05-043 E 47/1797 505873 7699465 43 0.005 23.60 6.60 0.03
24AR05-044 E 47/1746 499775 7687406 59 0.89 18,500.00 69,800.00 9.44
24AR05-045 E 47/1746 499800 7687386 63 0.005 26.20 72.30 0.08
24AR05-046 E 47/1746 499799 7687410 61 0.005 17.95 43.30 0.03
Table 2 Metal detector results from Sing-6 Prospect
Sample ID Sample test area Easting Northing Metal detected number of gold nuggets Gold nuggets total weight metal detected (grams)
24AR06-001 25mx25m 498025 7695328 21 9.7
JORC Code, 2012 Edition - Table 1 report
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation Commentary
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, or · Samples referred to in this report are obtained from random in-situ
specific specialised industry standard measurement tools appropriate to the (38) and workings/mullock (3) rock chip samples collected by Artemis Resources
minerals under investigation, such as down hole gamma sondes, or handheld XRF during field reconnaissance exercises.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · The random rock chip samples are irregularly spaced which is
considered appropriate for preliminary "regional-scale" reconnaissance-level
· Include reference to measures taken to ensure sample representivity gold exploration.
and the appropriate calibration of any measurement tools or systems used.
· Rock chips are random, subject to bias and often unrepresentative for
· Aspects of the determination of mineralisation that are Material to the typical widths required for economic consideration. They are by nature
the Public Report. difficult to duplicate with any acceptable form of precision or accuracy.
· In cases where 'industry standard' work has been done this would be · Samples were dispatched to ALS Global Laboratories in Perth for
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m analysis.
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there · Analysis included:
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed - Au-AA26 - Au 50g FA AA finish
information.
- ME-MS61L-REE - 60 element four acid digestion and ICP-MS finish.
Trigger default overlimit method for Cu,Co, Zn and Ag was requested.
· Mine Lab GPZ7000 metal detector used to assess for nugget gold in
surface material
· Metal detector survey completed across an approximate 25mx25m
area in surface material and in proximity with historic mullock heap/workings.
· A small 1.8 tonne excavator was used to disturb and fragment hard
capped surface material prior to survey
· Survey method coverage is approximate only as no gridding was
used. Results therefore may be underrepresented.
· Nuggets were cleaned using HCl10% and water.
· Nuggets weighed using Uniweigh digital scales (2 decimal places)
with 50gm calibration weight
· Physical characteristics of nuggets assessed using 10X hand-lens
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Not applicable, as no drilling was undertaken.
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, · No mention is made in this announcement of exploration results
whether core is oriented and if so, by what method, etc). including drilling conducted by other companies on nearby tenements.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Not applicable as no details on any drilling carried out by Artemis
results assessed. Resources are included in this announcement.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · Not applicable due to the reconnaissance nature of the sampling.
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies.
· Whether logging is qualitative or quantitative in nature. Core (or
costean, channel, etc) photography.
· The total length and percentage of the relevant intersections logged.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · No sub sampling of rock chip samples has been undertaken as part of
taken. this program.
· If non-core, whether riffled, tube sampled, rotary split, etc and
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the
insitu material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Rock chip samples were dispatched to ALS Global Laboratories in Perth
laboratory procedures used and whether the technique is considered partial or for analysis using their ME_MS61L (48 elements), MS61L-REE (12 elements) and
total. Au-AA26 (1 element) for 61 elements in total. This technique is considered
total for elements assayed.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · The laboratory reported the use of standards, blanks and duplicates
model, reading times, calibrations factors applied and their derivation, etc. as part of the analyses for QA/QC. Lab QAQC results have been reviewed by the
Competent Person who considers the results to be within acceptable limits.
· Nature of quality control procedures adopted (eg standards, blanks, Therefore, the assay results presented are considered valid, accurate and
duplicates, external laboratory checks) and whether acceptable levels of correct.
accuracy (ie lack of bias) and precision have been established.
· No standards or blanks were submitted by the company.
· The analytical techniques and quality control protocols used are
considered appropriate for the data to be used.
Verification of sampling and assaying · The verification of significant intersections by either independent · Rock chip sample and geological information was recorded in the field
or alternative company personnel. with coordinates saved from handheld GPS used in the field.
· The use of twinned holes. · All rock chip samples were inspected and described by Artemis
geologists in the field.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols. · Field data is entered into Excel spreadsheets before being stored
into an in-house developed Access data management system.
· Discuss any adjustment to assay data.
· Original lab certificates have been stored electronically.
· No analytical result adjustments have been applied. Below detection
limit data presented as ½ of the lower detection limit of the method and over
the detection limit results presented as the upper detection limit of the
method if OG method result not available.
·
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Sample points were determined by hand-held GPS which is considered
and down-hole surveys), trenches, mine workings and other locations used in appropriate for the reconnaissance nature of the sampling.
Mineral Resource estimation.
· All sample location coordinates are provided in the Geocentric Datum
· Specification of the grid system used. of Australia (GDA94 Zone 50).
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Not applicable due to the reconnaissance nature of the sampling.
· Whether the data spacing and distribution is sufficient to establish · No attempt has been made to demonstrate geological or grade
the degree of geological and grade continuity appropriate for the Mineral continuity between sample points.
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· No sample compositing is applied to samples.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Samples were collected from outcropping veins where possible, some
possible structures and the extent to which this is known, considering the samples were taken from historic Mullocks piles where it was not practical to
deposit type. retrieve in situ samples.
· If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material.
Sample security · The measures taken to ensure sample security. · Sample security is by way of chain of custody.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · No review of the sampling techniques has been undertaken.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · The project tenement covers an area of 126km(2) and comprises granted
agreements or material issues with third parties such as joint ventures, tenement: E47/1746
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · All Artemis Project tenures are 100% owned by Artemis Resources
subsidiary company KML No 2 Pty Ltd E47/1746 & E47/1797 with the exception
· The security of the tenure held at the time of reporting along with of E47/3719 which is subject to a GreenTech Metals/Artemis Resources 51%/49%
any known impediments to obtaining a licence to operate in the area. Joint Venture
· The tenement is in good standing with DMIRS and there are no known
impediments for exploration on these tenements.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Previous explorers in the region include but not limited to are
Westfield Minerals, Consolidated Gold Areas, Open Pit Mining and Exploration,
Legend Mining, Agip Exploration, Titan Resources and Fox Resources.
Geology · Deposit type, geological setting and style of mineralisation. · The rock chip sample program was planned identifying historic
reported anomalous gold (Au) occurrences from rock chip samples. Some of the
Au anomalies are associated with anomalous Copper (Cu), Silver (Ag) and Zinc
(Zn).
Drill hole Information · A summary of all information material to the understanding of the · Not applicable as no drilling has been undertaken
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
· If the exclusion of this information is justified on the basis that
the information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, · Not applicable as no data aggregation has been used.
maximum and/or minimum grade truncations (eg cutting of high grades) and
cut-off grades are usually Material and should be stated.
· Where aggregate intercepts incorporate short lengths of high grade
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations
should be shown in detail.
· The assumptions used for any reporting of metal equivalent values
should be clearly stated.
Relationship between mineralisation widths and intercept lengths · These relationships are particularly important in the reporting of · Not applicable as surface sampling is reconnaissance in nature.
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · All the appropriate maps are provided in the body of this
intercepts should be included for any significant discovery being reported announcement.
These should include, but not be limited to a plan view of drill hole collar
locations and appropriate sectional views.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · This announcement discusses the findings of recent reconnaissance
practicable, representative reporting of both low and high grades and/or sampling and associated assays.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · All the meaningful exploration data has been included in the body of
reported including (but not limited to): geological observations; geophysical this announcement.
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.
Further work · The nature and scale of planned further work (eg tests for lateral · Artemis Resources plans to conduct further ground reconnaissance and
extensions or depth extensions or large-scale step-out drilling). sampling in the short term to determine the surface extent both laterally and
along strike and also the economic potential of the prospect. Trenching and
· Diagrams clearly highlighting the areas of possible extensions, drilling will also be undertaken if warranted.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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