RCS - Artemis Resources Ld - Lulu Creek Drilling

Artemis ResourcesAnnouncement

23/10/2024 07:00

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RNS Number : 1816J  Artemis Resources Limited  23 October 2024

23 October 2024

 

Artemis Resources Limited

("Artemis" or the "Company")

lulu creek gold prospect set to be drill tested

mobilisation to occur shortly

targets identified

_______________________________________________________________________________

Highlights:

 

·   Lulu Creek prospect now cleared for drilling

 

·   Heritage and Ethnographic Surveys completed

 

·   Targeting potential for Intrusive Related Gold System (IRGS)

 

·   Previous shallow drilling intersected several anomalous gold zones
(>0.4g/t Au) over 1.5km including 1m @ 4.89 g/t Au and 13.7 g/t Ag

 

·   WA Government co-funded drilling grant approved

 

·   Teams to mobilise in coming days

 

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

Executive Director George Ventouras commented: "We are excited that we are
close to drilling the targets at the Lulu Creek prospect. The pathway to
obtaining clearance was a long but successful one and we are very pleased to
have the support of the Ngarluma Aboriginal Corporation to undertake this
activity. We are looking forward to getting the drill rig spinning and will
keep the market updated as to our progress."

 

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 (Figure 1). It was initially
identified in 2018 via a regional soils and rock chip program defining an area
of interest over 4km in an east-west orientation. Subsequent mapping and rock
chip sampling identified gold associated with quartz veins and gossans within
an unclassified weathered geological unit mostly covered by shallow
transported sands and gravels.

Artemis completed 126 shallow RC drill holes in 2020 with an average depth of
20m and a maximum depth of 50m. (Refer: ARV announcement 18 September 2020).
The RC drill program was very successful in identifying several zones of
highly anomalous (>0.4g/t Au) gold mineralisation at shallow depth
including an intersection of 1m @ 4.89 g/t Au and 13.7 g/t Ag from 24m (Refer
Table 1, from ARV announcement 18 September 2020).  The gold zones extend
over 1.5km and are associated with disseminated sulphide and quartz veins
within an interpreted quartz diorite intrusion.

 

Figure 1. Artemis West Pilbara tenements showing current known prospects

Subsequent to the 2020 drilling program, a 15-line dipole-dipole Induced
Polarisation (IP) survey was completed in July 2023. This identified two IP
chargeability anomalies within the interpreted Lulu Creek intrusion, broadly
coincident with the anomalous gold zones intersected in the shallow drilling
program in 2020 (Refer Figures 2 and 3).

 

Figure 2: Lulu Creek showing IP chargeability anomalies with location of
previous shallow RC drill holes and planned drill holes 24LLRC01-24LLRC04

 

 

 

 

 

 

Figure 3: Lulu Creek interpreted geology at similar scale to Figure 2, showing
location of 2020 shallow RC drill holes and anomalous gold zones (>0.4g/t
Au) intersected in that drill program.  (Refer Table 1)

 

The company was also the successful recipient of a government grant to co-fund
the planned drilling at the Lulu Creek as part of the Department of Energy,
Mines, Industry Regulation and Safety (DEMIRS) exploration incentive scheme
funding (EIS).

This announcement was approved for release by the Board.

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

 

Table 1:  Anomalous gold intersections from 2020 RC drilling program at Lulu
Creek - table included in Artemis release dated 18 September 2020

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, 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, Three New Gold Discoveries in the West Pilbara, 5 November
2018

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

 

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 704koz 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 +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.

 

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