15 August 2024
gold
assays hit overlimits, exceed 10,000 g/t Au*
high
grade GOLD vein discovery at titan prospect
copper
assays reach 23.8% Cu
_________________________________________________________________________________
Highlights:
·
High grade gold
reported in veins at Titan prospect
with abundant visible gold at surface
·
Titan prospect
tracked for ~ 700m and remains open
·
Rock chips samples report high grade gold assay
results including;
o 24AR07-004, 005, 008 - >
10,000 g/t Au*
o 24AR11-002
- 6,520 g/t Au
o 24AR07-169
- 10.2 g/t Au
·
Copper assay results return high values
including;
o 24AR07-184
- 23.8% Cu
o 24AR07-183
- 14.55% Cu
·
10.4 oz gold
bar produced from material extracted
from Titan prospect
·
Tenement review of Carlow project area results in
mapping of further gold
veins
·
New areas of gold
mineralisation discovered across tenements
·
Pathway open for potential larger scale regional
discovery
Figure 1
10.4 oz gold bar produced from Titan
prospect
Artemis Resources Limited ('Artemis' or the
'Company') (ASX/AIM:
ARV) is pleased to report
the discovery of exceptionally high grade gold in veins at the
Titan prospect as part of its recent ground reconnaissance program
at its Karratha Gold Project, in the Pilbara region of Western
Australia.
Executive Director George Ventouras commented: "We remain
excited by the gold prospectivity that our tenements continue to
deliver. The re-focus of exploration efforts and strategy on a
tenement wide scale is continuing to deliver evidence of multiple
new zones for gold mineralisation, which we believe could contain
the potential for large scale deposits. The next steps will allow
us to refine these zones, delineate bona-fide
prospects and work towards more targeted exploration
efforts."
Figure
2. Current known gold prospects
contained within the Artemis tenements
Ground
reconnaissance recently completed as a follow up to the previous
reported work has delivered further gold occurrences in areas that
were previously only lightly explored. This work was designed to
map the prospective surface veins and identify additional fertile
structures that may contain gold & copper mineralisation. Not
only did the ground team identify and trace several large-scale
vein trends, they were also successful in identifying a vein zone
with abundant coarse visible
gold at the Titan prospect.
Figure
3. Current gold prospects contained
within the Carlow tenement
TITAN
PROSPECT
The Titan
prospect is essentially a greenfields discovery as previous work
conducted at this location was limited to broad spaced soil
sampling and a constrained moving loop transient electromagnetic
survey (MLTEM) program without any follow up exploration. Titan is
located within the Company's Carlow tenement and approximately 2km
from the Carlow project where there is a current JORC 2012 compliant Mineral Resource of 374,000oz Au (Au Eq total
mineral resource of 704,000 oz AuEq).
Figure 4
Gold bar produced from Titan prospect
Recent work
by the Company which focussed on the identification of prospective
surface veins has resulted in the discovery of a fertile region
around the Titan prospect, including a highly mineralised sub vertical quartz-iron
vein zone with abundant
visible gold. This work involved taking rock chips from
surface and exposing the veining below very shallow
cover.
The Titan
mineralised trend has been tracked for approximately ~700m and
appears to remain open
under shallow cover. Furthermore, recent field observations
suggest it also occurs on a much larger and strike extensive
structural zone.
Multiple hard rock
gold samples were extracted from the
quartz-iron veining with the largest being an estimated
10cm x 4cm (refer figure
20). Importantly, these gold samples are not analogous to the conglomerate hosted
mineralisation, Witwatersrand style of watermelon seed gold nuggets
as per the Purdy's Reward and other previously reported
discoveries. Instead, these gold occurrences originate from a
hard rock source which
indicates we are potentially looking at large gold structures, at surface with
potential to extend along strike and at depth.
Sampling
work was conducted around the Titan prospect with around 300kg
material removed. This material was sorted, crushed, separated,
gold extracted and a gold bar
weighing 10.4 ounces was subsequently produced.
The
potential upside remains large not only for this prospect, but more
importantly for tenement wide prospectivity as the Company believes
Titan is not a sole occurrence but instead part of a larger gold mineralised system across
the Carlow tenement.
Further, we
believe that the mineralisation extends beyond the Carlow tenement
and these trends persist across the Silica Hills and Osborne
tenements, leading towards the Lulu Creek prospect which was
recently the recipient of a government grant for co-funded
drilling.
Rock chips
samples from Titan were collected and sent to the ALS laboratory in
Perth for analysis. Results received and included the following
highlights;
o 24AR11-004, 005, 008 - >10,000 g/t Au*
o 24AR07-002
- 6,520 g/t Au
o 24AR07-169
- 10.2 g/t Au
o 24AR07-192
- 6.1 g/t Au
o 24AR07-162
- 5.1 g/t Au
o 24AR07-184
- 23.8% Cu
o 24AR07-183 - 14.55%
Cu
*Note -
Rock chip sample processing exceeded the capacity of the lab assay
capabilities and resulted in over-limits which are reached when a
gold sample records an assay higher than 1% or 10,000ppm
Au.
|
Sample No
|
Easting
|
Northing
|
Au
g/t
|
Cu
%
|
Ag
ppm
|
Co
ppm
|
Zn
pct
|
|
24AR07-186*
|
507976
|
7697654
|
0.6
|
6.95
|
24.1
|
1525
|
0.06
|
|
24AR11-002*
|
505852
|
7699473
|
6520
|
0.03
|
>100
|
282
|
0.01
|
|
24AR11-004*
|
505855
|
7699471
|
>10000
|
0.01
|
>100
|
21.4
|
0.01
|
|
24AR11-005
|
505860
|
7699470
|
>10000
|
0.02
|
>100
|
31
|
|
|
24AR11-008
|
505863
|
7699466
|
>10000
|
0.01
|
>100
|
12.4
|
|
|
24AR07-169
|
505843
|
7699451
|
10.2
|
0.06
|
1.3
|
137.5
|
0.02
|
|
24AR07-192
|
507741
|
7696876
|
6.1
|
3.37
|
31.2
|
190.5
|
0.08
|
|
24AR07-162
|
505854
|
7699471
|
5.1
|
0.04
|
0.7
|
134.5
|
0.01
|
|
24AR07-191*
|
507742
|
7696859
|
4.5
|
6.74
|
14.3
|
33.1
|
0.01
|
|
24AR07-185*
|
508475
|
7696631
|
3.4
|
3.88
|
38.4
|
160.5
|
0.02
|
|
24AR07-190
|
508531
|
7696647
|
2.5
|
0.15
|
6
|
70.4
|
|
|
24AR07-180
|
505855
|
7699472
|
2.4
|
0.03
|
0.1
|
629
|
0.01
|
|
24AR07-183*
|
507757
|
7696887
|
2.2
|
14.55
|
8.8
|
139
|
0.03
|
|
24AR07-196*
|
495466
|
7686219
|
1.7
|
1.66
|
127
|
173
|
8.6
|
|
24AR07-194*
|
506985
|
7698805
|
1.7
|
0.55
|
4
|
406
|
0.03
|
|
24AR07-187*
|
507230
|
7698840
|
1.1
|
6.04
|
6.7
|
230
|
|
|
24AR07-182*
|
507823
|
7696948
|
1
|
9.7
|
5.6
|
140.5
|
|
|
24AR07-143
|
505021
|
7699506
|
0.9
|
0
|
0.1
|
1.5
|
|
|
24AR07-168
|
505857
|
7699471
|
0.7
|
0.02
|
0.1
|
66.3
|
0.02
|
|
24AR07-176
|
505860
|
7699466
|
0.7
|
0
|
0
|
3.3
|
|
|
24AR07-193*
|
507978
|
7697656
|
0.7
|
5.75
|
37.4
|
266
|
0.02
|
|
24AR07-188*
|
507139
|
7698883
|
0.7
|
0
|
|
|
|
|
24AR07-131
|
506478
|
7699113
|
0.6
|
0.01
|
13
|
0.9
|
0.01
|
|
24AR07-032*
|
497730
|
7695166
|
0.6
|
0
|
0
|
4.3
|
0.02
|
|
24AR07-184*
|
507594
|
7696862
|
0.5
|
23.8
|
121
|
91.8
|
0.01
|
|
24AR07-035
|
497444
|
7695662
|
0.5
|
0
|
0.1
|
1.2
|
|
|
24AR07-073
|
486930
|
7695821
|
0.5
|
0.01
|
8.2
|
11.7
|
0.02
|
|
24AR07-144
|
505052
|
7699508
|
0.5
|
0
|
0.1
|
6.1
|
|
|
24AR07-189*
|
506941
|
7698830
|
0.3
|
5.67
|
26.6
|
160
|
0.03
|
|
24AR07-181*
|
507997
|
7697002
|
0.3
|
5.4
|
4.4
|
101.5
|
0.02
|
Table 1
Significant results from recent rock chip sampling
- 0.3 g/t Au cut off
*Sample
taken from historical workings/mullock heaps
Tenement wide
prospectivity
Recent
ground reconnaissance programs have been completed with surface
samples identifying numerous potential gold mineralisation zones
including Carlow, Sing 6-Well and Orpheus. These zones are
distinctive trends that have the potential for the discovery of
sub-surface gold mineralised zones and have expanded the Company's
exploration upside, in a greenfields location, only ~15km from
Karratha.
Figure 5
Executive Director George Ventouras pointing to
quartz-iron vein zone containing visible gold
Figure 6 and 7
Gold (24AR11-007 & 24AR11-014) located in
surface veins at the recently discovered Titan gold prospect.
Analysis of gold collected from the surface cover assisted
with locating the recently discovered surface veins containing
abundant visible coarse gold. These samples were not sent to the
lab for assay.
Figure
8. Generalised schematic model
for potential Titian Gold mineralisation. Liberation of gold from
hard rock source into surface sediments. Free gold in surface
sediments are analysed to determine proximity to potential hard
rock source and new discovery site. Not to scale
The Carlow
project, with its 374,000 oz Au
Mineral Resource estimate is an important starting point but
the Company is interested in further exploring the prospectivity of
the greater tenement package and its inherent mineralisation to
identify multiple Carlow type
projects or deposits which could be combined with Carlow to
form a larger overall system of mineralisation.
This recent
program continues to demonstrate the prospectivity of the region
and in particular the Artemis tenements and we are confident that
further work will result in additional exploration
success.
Figures 9-20
Gold recovered in quartz-iron veining collected
from Titan Prospect
Figure 21
Abundant coarse gold observed in surface quartz
veining chip samples (24AR11-013) collected from Titan
Prospect
Update on Heritage and
Ethnographic Surveys
Heritage and ethnographic surveys
have now been completed over Lulu Creek gold and Mt Marie lithium
prospects and once the written report has been received, the
pathway to drilling will be clear. As always, we thank the Ngarluma
Corporation for their ongoing support and cooperation.
This announcement was approved
for release by the Board.
For
further enquiries:
|
Artemis Resources Ltd
|
|
|
Guy Robertson, Chairman
George Ventouras, Executive
Director
|
info@artemisresources.com.au
|
|
|
|
|
Zeus Capital Limited (Nomad & Broker)
|
|
|
Antonio Bossi / James Bavister /
Isaac Hooper
|
Tel: +44 20 3829
5000
|
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 Company's main projects include;
· Karratha
Gold Project including the Carlow Castle 704k oz AuEq
gold-copper-cobalt project in the West Pilbara;
· Karratha
Lithium Project including the high grade Mt Marie Lithium Prospect
and the Osborne Lithium JV (Artemis 49%; GreenTech Metals (ASX:GRE
51%)
· 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.
Artemis is
focused on discovering multiple gold prospects within its
+200km2 tenement package that can build upon the initial
Mineral Resource at Carlow. The majority of the tenement package
has been lightly explored and is now the subject of methodical
exploration programs with a view to identify all gold zones, veins,
structures and faults.
The Company
will also continue to progress the Karratha Lithium project
including the high grade Mt Marie prospect and will look to advance
this exciting project through further field work which will lead to
drilling the most advanced targets in due course.
Competent Person
Statement
The
information in this report that relates to exploration results was
prepared by Mr Oliver Hirst M.Sci (Hons), 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.
ASX
announcements referred to in this release;
Artemis
Resources Ltd, 12 June 2024
Artemis
Resources Ltd, 16 April 2024
Artemis Resources Ltd, 13 October 2022
Artemis Resources Ltd, 13 November 2023
Artemis
Resources Ltd, 29 September 2017
Artemis
Resources Ltd, 23 October 2017
Artemis
Resources Ltd, 28 November 2017
Artemis
Resources Ltd, 14 November 2017
Artemis
Resources Ltd, 29 November 2017
Artemis
Resources Ltd, 17 September 2018