RCS - Artemis Resources Ld - Lulu Creek Drilling Commences

Artemis ResourcesAnnouncement

31/10/2024 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20241031:nRSe3197Ka&default-theme=true

RNS Number : 3197K  Artemis Resources Limited  31 October 2024

31 October 2024

 

Artemis Resources Limited

("Artemis" or the "Company")

 

drilling at lulu creek gold prospect commences

ip targets set to be tested

_______________________________________________________________________________

Highlights:

·   Lulu Creek prospect drilling has now commenced

 

·   Previously announced Induced Polarisation anomalies and highly
anomalous near surface gold intersections to be tested at depth

 

Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to provide an update on drilling at the 100% owned Lulu Creek prospect
in the Pilbara region of Western Australia.

Figure 1. Drill rig on site at the Artemis Lulu Creek gold prospect

Executive Director George Ventouras commented: "We are delighted that drilling
has commenced at the Lulu Creek gold prospect. While we are excited to see the
results from this program, drilling at Lulu Creek is only the beginning in a
series of exploration initiatives to test the prospectivity of our tenements
which extend 20km along a major east-west structural corridor with numerous
surface gold occurrences.

With several other compelling targets already identified along this structural
corridor which is only lightly explored, the future looks bright for
exploration success."

 

About Lulu Creek

Lulu Creek lies 20km to the west of the Company's Carlow Castle deposit and
forms part of the prospective Greater Carlow area. It has previously been
explored via a shallow drill program in 2020.  The program constituted 126 RC
holes which had an average depth of 20m and a maximum depth of 50m.

The 2020 drilling program intersected several zones of anomalous gold
mineralisation associated with disseminated sulphides at shallow depth.
 Intersections included 1m @ 4.89 g/t Au and 13.7 g/t Ag from 24m, 2m @
1.62g/t Au from 34m and 1m @ 1.15g/t Au from 9m.  (Refer to ARV releases
dated 18 September 2020 and 23 October 2024).

Figure 2. Artemis West Pilbara tenements showing current known prospects

 

In early 2023 a 15-line dipole-dipole Induced Polarisation (IP) survey was
completed which identified two IP chargeability anomalies within the
interpreted Lulu Creek intrusion. In late 2023, the Company was awarded a
government grant through the Department of Energy, Mines, Industry Regulation
and Safety to co-fund this drilling program.

The Company plans to drill a series of reverse circulation (RC) holes to test
both the IP targets and zones of elevated gold mineralisation intersected in
the 2020 shallow drilling. It is expected approximately 5 holes for around
1,500 metres will be drilled.

Once the program has been completed, all relevant samples will be sent the
laboratory for assaying and will be released to the market once quality
assurance and quality control has been completed.

This announcement was approved for release by the Board.

For further information contact Mr George Ventouras / Executive Director

For further information contact Mr George Ventouras / Executive Director

 Artemis Resources Ltd
 Guy Robertson, Chairman                        info@artemisresources.com.au

 George Ventouras, Executive Director

 Zeus Capital Limited (Nomad & Broker)
 Antonio Bossi / James Bavister / Isaac Hooper   Tel:  +44 20 3829 5000

 

 

 

Competent Person Statement

The information in this report that relates to Exploration Results was
prepared/compiled by Mr Adrian Hell BSc (Hons), a Competent Person who is a
member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr
Hell is a technical consultant to Artemis Resources Ltd. Mr Hell 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
Hell consents to the inclusion in this report of the matters based on his
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, Three New Gold Discoveries in the West Pilbara, 5 November
2018

Artemis Resources, Diamond Drilling underway at Carlow Castle, 18 September
2020

Artemis Resources, Lulu Creek IP Survey Commences and Greater Carlow EM
Update, 3 July 2023

Artemis Resources, Induced Polarisation (IP) Survey Identifies New Gold
Targets at Lulu Creek, 23 & 24 August 2023

Artemis Resources, Lulu Creek Awarded Exploration Incentive Scheme Funding, 13
November 2023

Artemis Resources, Artemis to Commence Drilling Lulu Creek Gold Prospect, 23
October 2024

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 gold-copper
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 +200km(2)
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.

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAEAAEEDAPLFAA