REG - Artemis Resources Ld - Further High-Grade Rock Chip Results at Titan
10/10/2024 07:00
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RNS Number : 6844H Artemis Resources Limited 10 October 2024
10 October 2024
Artemis Resources Limited
("Artemis" or the "Company")
titan delivers Further high-grade Rock Chip results
surface sampling assayS exceed 55% gold, 1,000 g/t silver
emergence of broad mineralised area over titan prospect
_______________________________________________________________________________
Highlights:
· Recent rock chip sampling at Titan delivers further high-grade gold
from assays, and newly discovered silver including:
o 553,754 g/t Au & 1,305 g/t Ag (24AR19-075)
o 223,056 g/t Au & 1,195 g/t Ag (24AR19-068)
o 33,389 g/t Au & 233 g/t Ag (24AR19-061)
o 7.5 g/t Au (24AR19-032)
o 5.7 g/t Au (24AR19-047)
o 1.2 g/t Au (24AR19-040)
o 2.0 g/t Au (24AR19-030)
· Emerging broad prospective area covering >63ha and considered to
remain open pending further exploration
· Previous reported over-limit and high-grade assays have now been
quantified by the laboratory and returned assay results as follows;
o 692,579 g/t Au & 3,000 g/t Ag (24AR11-005)
o 471,937 g/t Au & 1,775 g/t Ag (24AR11-008)
o 45,103 g/t Au & 344 g/t Ag (24AR11-004)
o 7,440 g/t Au & 212 g/t Ag (24AR11-002)
Artemis (ASX/AIM: ARV) is pleased to announce ground reconnaissance at the
Titan prospect in the West Pilbara region of Western Australia continues to
deliver high grade gold and silver from assays, highlighting the emergence of
a broad mineralised area over the prospect.
Executive Director George Ventouras commented: "It is pleasing to see further
high-grade rock chip assays being recorded at the exciting Titan prospect,
together with confirmation of the extent of gold in previous sampling. These
results, together with the previously reported gold, silver and copper
results, point to the Carlow tenement being a highly prospective region with
the potential for a larger scale gold system. These high-grade gold assays
continue the trend found in our original rock chip discoveries at Titan by
emerging from quartz-iron veining and are therefore not analogous to
conglomerate mineralisation. This veining structure will vary throughout Titan
but the structure continues to demonstrate its potential. Given the limited
historical exploration activity at this prospect, we believe this is only the
beginning. We are looking forward to further gold exploration at Titan and
over the Greater Carlow tenement ."
Titan Prospect
The Titan prospect is located towards the northern part of the Carlow tenement
E47/1797, in the West Pilbara region of Western Australia. Titan has had
minimal exploration work conducted previously other than broad spaced soil
sampling and a constrained moving loop transient electromagnetic survey
(MLTEM).
Figure 1. Artemis West Pilbara tenements with current known prospects named
The Company has followed up the preliminary ground reconnaissance undertaken
in August 2024 with a second phase of sampling. This second phase has
confirmed the previously reported over-limit assay results and also identified
further potential mineralised areas through the discovery of additional high
grade, previously untested quartz/iron-oxide veins. In total, 97 samples were
collected and sent to the laboratory for processing.
The majority of samples were collected from in-situ veining with some sub-crop
and three float samples.
Significant rock chip assay results (>0.5g/t Au), which included seven high
grade results, from this second phase program included the following:
Sample_No Easting Northing Au g/t Cu % Ag g/t Co ppm Zn %
24AR19-075* 505863 7699466 553,754.92 0.023 1,305 37.3 0.010
24AR19-068* 505860 7699470 223,056.72 0.022 1,195 70.3 0.012
24AR19-061* 505855 7699471 33,389.85 0.015 233 76.2 0.008
24AR19-032 504980 7699364 7.48 0.007 0.37 16 0.009
24AR19-047 505019 7699515 5.72 0.003 3.2 3.4 0.001
24AR19-030 505004 7699346 1.97 0.016 0.54 27.3 0.019
24AR19-040 504902 7699708 1.19 0.008 0.66 46.7 0.034
24AR19-005 505029 7699502 0.85 0.004 0.54 3.8 0.004
24AR19-007 505305 7699616 0.55 0.005 0.46 6.9 0.012
24AR19-069 507728 7699313 0.54 0.005 0.51 1.1 0.001
Table 1. Significant rock chip assay results from recent sampling
* Assay results for Au from FA with gravimetric finish, reported as the
average of triplicates.
Figure 2. Titan and Carlow North prospects with all rock chip sample locations
- see appendix 1 for all details.
Recent field work and rock chip sampling across the Carlow tenement area has
revealed several locations of mineralised quartz-iron oxide veining which
occur in three defined target areas, the largest centred around Titan covering
approximately 63ha. Multiple vein orientations have been observed and are
broadly consistent with the regional prospective Regal thrust structural
framework. These thrust faults also extend for many tens of kilometres
beyond the Titan prospect and across other Artemis prospects including Sing
Six.
Vein composition at Titan is primarily quartz-iron oxide forming irregular
banding with multiple samples displaying visible gold. Veins are predominantly
steeply dipping and often range from single 1cm veinlets to 50cm and may occur
as multiple sets across zones 1-5m wide with host rock. Vein outcrops are
limited and trend for multiple meters and appear concealed by shallow
surficial cover with projected trends based on geochemical and structural
interpretations. Intense silica alteration with stockwork stringer veining,
and lessor chlorite/sericite is observed across major shear zone structures,
often forming positive relief features across Titan. This alteration may be
highlighting the wider envelope of the potential mineralisation system.
The reported high-grade gold assays (>10,000 g/t Au) provide strong support
for the potential of the Titan prospect area. It must be noted sampling
additional vein material close to high-grade gold samples may return
contrasting results. Variable distribution of high-grade gold assays is
typical of many gold bearing veins.
Importantly, the distribution of significant surface rock chip gold assays
(>0.5g/t Au) across a broad area at Titan (potentially up to 2km x 400m)
and across differing structural trends presents considerable interest to the
Company and could suggest a larger mineralised system than previously
thought. This emerging and newly defined gold target area at Titan remains
open pending further exploration.
Figure 3. Three newly interpreted surface gold target zones (in yellow) based
on limited rock chip sampling across the Titan prospect area. 704Koz Au Eq
Carlow Resource (in red) located ~1km south-east of Titan prospect.
Artemis undertook preliminary rock chip sampling over the Titan prospect with
initial results reported on 15 and 16 August 2024. Due to the high gold
content of some of the samples, the analytical laboratory was unable to
quantify the actual value of gold and provided a written report to state that
several samples had exceeded the laboratory's gold assay limit, which was
10,000 g/t Au.
These over-limit samples were then provided to a second laboratory that
specialises in high grade material and the samples were subsequently able to
be quantified. These over-limit assays have now been quantified by the second
laboratory and returned assay results (which are presented in Table 2) as
follows;
o 692,579 g/t Au & 3,000 g/t Ag (24AR11-005)
o 471,937 g/t Au & 1,775 g/t Ag (24AR11-008)
o 45,103 g/t Au & 344 g/t Ag (24AR11-004)
o 7,440 g/t Au & 212 g/t Ag (24AR11-002)
Note - With respect to the high-grade gold assay rock chip results, these
samples were selectively sampled from in-situ veining comprising quartz iron
oxide and visible gold. The majority of rock chip sampling of veining was
opportunistic in nature to better understand the potential higher-grade
distribution of the target area currently being evaluated and to formulate a
hypothesis as to the potential for a larger mineralised system.
These surface rock chip assay results provide early-stage confirmation that
the Titan prospect has the potential hallmarks of a high-grade gold system of
significant scale.
Figure 4. Sample 24AR11-012 taken from the Titan prospect displaying high gold
content
Sample ID Location Weight gm Visual Gold Estimate (%) Vein Type (major minerals)
mN mE
24AR11-012 505863 7699466 10000 5 Qz-Fe Vein + calcrete (fragmental)
Cautionary statement: Visual estimates of mineral abundance should never be
considered a proxy or substitute for laboratory analyses where concentrations
or grades are the factor of principal economic interest. Visual estimates also
potentially provide no information regarding impurities or deleterious
physical properties relevant to valuations. A number of vein rock chip
samples were selected based on presence of visible gold during the sampling
programs. The high-grade gold results reflect the irregular nature of the
gold mineralisation. It should be noted that further sampling in close
proximity to these high-grade zones may produce varying and very contrasting
results. Some vein samples presented in diagrams may not have been analysed by
a laboratory as the Company has chosen to keep them for type specimens.
Figure 5. Visible gold in smoky quartz with minor iron oxide vein material
located at Titan prospect
Sample ID Location Weight gm Visual Gold Estimate (%) Vein Type (major minerals)
mN mE
24AR11-014 505863 7699466 68 20 Smoky Qz vein (minor iron oxide)
Cautionary statement: Visual estimates of mineral abundance should never be
considered a proxy or substitute for laboratory analyses where concentrations
or grades are the factor of principal economic interest. Visual estimates also
potentially provide no information regarding impurities or deleterious
physical properties relevant to valuations. A number of vein rock chip
samples were selected based on presence of visible gold during the sampling
programs. The high-grade gold results reflect the irregular nature of the
gold mineralisation. It should be noted that further sampling in close
proximity to these high-grade zones may produce varying and very contrasting
results. Some vein samples presented in diagrams may not have been analysed by
a laboratory as the Company has chosen to keep them for type specimens.
Figure 6. Visible gold in iron oxide quartz vein material located at Titan
prospect
Sample ID Location Weight gm Visual Gold Estimate (%) Vein Type (major minerals)
mN mE
Duplicate of 505860 7699470 157 10 Iron oxide-quartz
24AR19-068
Cautionary statement: Visual estimates of mineral abundance should never be
considered a proxy or substitute for laboratory analyses where concentrations
or grades are the factor of principal economic interest. Visual estimates also
potentially provide no information regarding impurities or deleterious
physical properties relevant to valuations. A number of vein rock chip
samples were selected based on presence of visible gold during the sampling
programs. The high-grade gold results reflect the irregular nature of the
gold mineralisation. It should be noted that further sampling in close
proximity to these high-grade zones may produce varying and very contrasting
results. Some vein samples presented in diagrams may not have been analysed by
a laboratory as the Company has chosen to keep them for type specimens.
Next Steps
The exploration team will continue to undertake work on the Carlow tenement
with a focus on detailed mapping of the visually identified structures to
assist in interpreting the possible extent of potential mineralisation.
Reprocessing and interpretation of historical airborne geophysical data is
also currently being undertaken to potentially outline what may underpin the
surface expression of mineralisation across the Carlow tenement, with the
focus on the Carlow Resource, Titan and Europa prospects. This work may be
extended across other areas if initial results are deemed positive.
Sample_No Easting Northing kg0.02 GRAV_Assay GRAV_Assay GRAV_Assay Average Au g/t Ag g/t
1_Au%* 2_Au%* 3_Au%* Au %*
**24AR11-005 505860 7699470 0.17 68.90 70.74 68.13 69.26 692,579.5 3,000
24AR19-075 505863 7699466 0.27 55.43 54.92 55.77 55.38 553,754.9 1,305
**24AR11-008 505863 7699466 0.15 49.95 44.98 46.65 47.19 471,937.8 1,775
24AR19-068 505860 7699470 0.30 22.41 22.00 22.50 22.31 223,056.7 1,195
**24AR11-004 505855 7699471 0.32 4.48 4.49 4.56 4.51 45,103.7 344
24AR19-061 505855 7699471 0.27 3.10 3.15 3.77 3.34 33,389.9 233
**24AR11-002 505852 7699473 0.37 0.74 0.74 0.75 0.74 7,440.0 212
24AR19-032 504980 7699364 0.89 7.5 0.37
24AR19-047 505019 7699515 1.32 5.7 3.2
24AR19-030 505004 7699346 0.76 2.0 0.54
24AR19-040 504902 7699708 1.96 1.2 0.66
24AR19-005 505029 7699502 0.77 0.9 0.54
24AR19-007 505305 7699616 0.57 0.6 0.46
***24AR19-069 507728 7699313 2.13 0.5 0.51
Table 2. Significant (>0.5g/t Au) gold results from rock chip samples
collected at the Titan prospect and include results previously reported as
over limit (ie > 10,000g/t Au - refer ASX announcement 16(th) August 2024).
*GRAV 1, GRAV 2 and GRAV 3 assays represent gravimetric finish with samples
assayed in triplicate and reported in average % and also g/t for Au and Ag
**Samples reanalysed and or originally reported as over limited > 10,000g/t
Au (refer ASX announcement 16(th) August 2024). IAL reports Au assay in
percent. These have been calculated to gram per tonne (g/t = %value x
10,000)
***Sample 24AR19-069 was taken from the Carlow North prospect; all other
samples are from the Titan prospect.
**** Samples taken in datum GDA94Z50
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
info@artemisresources.com.au (mailto:info@artemisresources.com.au)
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.
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.
The information in this report that relates to Mineral Resources complies with
the 2012 Edition of the Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves ("The JORC Code") and has been
compiled and assessed under the supervision of Ms Janice Graham MAusIMM
(CPGeo) MAIG and Dr Simon Dominy FAusIMM(CPGeo) FAIG(RPGeo) FGS(CGeol). Ms
Graham Dr Dominy are employees of Snowden Optiro. Ms Graham and Dr Dominy have
sufficient experience relevant to the styles of mineralisation and type of
deposits under consideration and to the activity being undertaken to
individually qualify as a Competent Person as defined in The JORC Code. Ms
Graham and Dr Dominy consent to the inclusion in the report of the matters
based on this 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, Titan Prospect Results - Clarification Statement, 17
September 2024
Artemis Resources, High Grade Gold Vein Discovery at Titan Prospect Amended,
16 August 2024
Artemis Resources, High Grade Gold Vein Discovery at Titan Prospect, 15 August
2024
Artemis Resources, High Grade Gold Copper Cobalt Inferred Mineral Resource
lays foundation for a robust Greater Carlow Project, 13 October 2022
Artemis Resources, Copper and Nickel; Occurrence at Chapman Prospect, 6
November 2021
Appendix 1 - Rock chip sample assay results
Sample_No Easting Northing FA_GRAV_ 50g_FA_Au g/t Cu % Ag ppm Co ppm Zn %
avg_Au %
24AR19-001 505301 7699601 0.12 0.001 0.25 8.2 0.017
24AR19-002 505329 7699601 0.05 0.008 0.96 5.2 0.021
24AR19-003 505325 7699601 0.11 0.007 0.13 5 0.009
24AR19-004 505309 7699619 0.02 0.017 0.17 28.1 0.040
24AR19-005 505029 7699502 0.85 0.004 0.54 3.8 0.004
24AR19-006 505034 7699512 0.19 0.008 0.61 9.7 0.009
24AR19-007 505305 7699616 0.55 0.005 0.46 6.9 0.012
24AR19-008 505633 7699658 0.09 0.004 0.63 26.4 0.026
24AR19-009 505629 7699646 0.02 0.020 0.88 28.7 0.021
24AR19-010 505631 7699650 0.01 0.008 0.22 4.8 0.005
24AR19-011 505614 7699625 0.17 0.031 0.38 7.5 0.014
24AR19-012 505608 7699632 0.03 0.031 0.54 6.1 0.011
24AR19-013 505521 7699631 0.01 0.058 0.09 73.6 0.070
24AR19-014 505487 7699628 0.01 0.008 0.08 29.9 0.066
24AR19-015 505334 7699963 0.02 0.009 0.35 8.1 0.003
24AR19-016 507367 7699236 0.23 0.033 1.4 17.5 0.007
24AR19-017 507495 7699344 0.02 0.005 0.33 2.2 0.003
24AR19-018 507543 7699265 0.03 0.028 0.23 7.9 0.009
24AR19-019 506014 7699009 0.02 0.002 0.19 3.3 0.003
24AR19-020 506011 7699009 0.02 0.004 0.4 14 0.126
24AR19-021 505910 7698945 0.02 0.022 0.31 48 0.103
24AR19-022 505899 7698940 0.02 0.004 0.1 6 0.009
24AR19-023 505378 7698800 0.01 0.012 0.37 8.2 0.014
24AR19-024 505005 7698605 0.01 0.012 0.24 20 0.031
24AR19-025 505041 7698885 0.03 0.002 0.23 4.9 0.005
24AR19-026 504992 7698874 0.01 0.002 0.07 4.7 0.004
24AR19-027 504994 7698909 0.01 0.001 0.09 5.3 0.010
24AR19-028 505030 7698871 0.05 0.006 0.24 6.2 0.006
24AR19-029 506456 7698857 0.02 0.092 0.33 39 0.035
24AR19-030 505004 7699346 1.97 0.016 0.54 27.3 0.019
24AR19-031 504999 7699348 0.11 0.009 0.28 11.3 0.005
24AR19-032 504980 7699364 7.48 0.007 0.37 16 0.009
24AR19-033 504566 7699056 0.02 0.002 0.03 3.4 0.005
24AR19-034 504577 7698980 0.01 0.0005 0.02 2.5 0.001
24AR19-035 504049 7698756 0.18 0.012 0.18 9.3 0.012
24AR19-036 504351 7698750 0.01 0.002 0.11 3.1 0.007
24AR19-037 504380 7698734 0.01 0.005 0.08 46 0.010
24AR19-038 504879 7699836 0.1 0.030 0.52 21.5 0.015
24AR19-039 504770 7699877 0.005 0.002 0.11 1 0.0003
24AR19-040 504902 7699708 1.19 0.008 0.66 46.7 0.034
24AR19-041 504861 7699678 0.36 0.003 0.12 5 0.002
24AR19-042 504734 7699830 0.23 0.006 0.15 20.5 0.004
24AR19-043 504731 7699828 0.03 0.004 0.17 12 0.003
24AR19-044 505320 7699943 0.03 0.009 0.19 3.1 0.003
24AR19-045 505302 7699958 0.02 0.033 0.08 11.6 0.004
24AR19-046 505284 7699595 0.29 0.001 0.2 2.5 0.004
24AR19-047 505019 7699515 5.72 0.003 3.2 3.4 0.001
24AR19-048 505053 7699505 0.43 0.001 0.15 2 0.002
24AR19-049 503900 7698803 0.02 0.001 0.06 14.5 0.005
24AR19-050 503877 7698824 0.01 0.0004 0.01 9.2 0.003
24AR19-051 505492 7699642 0.42 0.002 0.29 7.9 0.015
24AR19-052 505512 7699642 0.09 0.003 0.13 25.8 0.039
24AR19-053 505529 7699646 0.005 0.013 0.07 142.5 0.090
24AR19-054 505869 7699469 0.03 0.006 0.02 27.7 0.005
24AR19-055 505869 7699456 0.01 0.006 0.03 28.3 0.003
24AR19-056 507452 7699257 0.02 0.009 0.03 3.6 0.011
24AR19-057 507429 7699291 0.01 0.006 0.07 3.7 0.013
24AR19-058 507422 7699302 0.01 0.009 0.04 5.2 0.014
24AR19-059 507399 7699272 0.21 0.008 0.19 3.4 0.007
24AR19-060 507380 7699230 0.01 0.016 0.32 7.2 0.013
24AR19-061* 505855 7699471 3.34 33390 0.015 233 76.2 0.008
24AR19-062 507874 7699281 0.03 0.002 0.1 1 0.001
24AR19-063 505229 7698900 0.005 0.002 0.21 2.4 0.002
24AR19-064 505213 7698896 0.05 0.004 0.53 2.5 0.005
24AR19-065 507720 7699449 0.005 0.019 0.4 5.2 0.008
24AR19-066 507716 7699316 0.01 0.005 0.22 1 0.0004
24AR19-067 507728 7699313 0.15 0.013 0.52 6.1 0.013
24AR19-068* 505860 7699470 22.31 223057 0.022 1195 70.3 0.012
24AR19-069 507728 7699313 0.54 0.005 0.51 1.1 0.001
24AR19-070 507726 7699299 0.13 0.018 1.19 7.7 0.007
24AR19-071 507723 7699296 0.02 0.006 0.14 3.1 0.002
24AR19-072 507730 7699304 0.02 0.001 0.12 0.6 0.001
24AR19-073 507701 7699266 0.04 0.032 0.88 18.2 0.075
24AR19-074 507717 7699272 0.01 0.005 0.06 1.4 0.001
24AR19-075* 505863 7699466 55.38 553755 0.023 1305 37.3 0.010
24AR19-076 507868 7699228 0.12 0.002 0.23 1.3 0.004
24AR19-077 507856 7699372 0.005 0.039 0.09 14.6 0.068
24AR19-078 505243 7698872 0.02 0.005 0.45 7.6 0.017
24AR19-079 505779 7699504 0.01 0.034 0.05 55.3 0.055
24AR19-080 505783 7699487 0.01 0.022 0.03 63.3 0.018
24AR19-081 505787 7699491 0.005 0.018 0.02 57 0.019
24AR19-082 505788 7699497 0.07 0.016 0.04 61 0.021
24AR19-083 505789 7699496 0.005 0.026 0.02 54 0.024
24AR19-084 505772 7699485 0.005 0.021 0.06 89.8 0.017
24AR19-085 508074 7699637 0.01 0.011 0.12 14.1 0.018
24AR19-086 508077 7699627 0.02 0.002 0.21 3.1 0.013
24AR19-087 508087 7699608 0.005 0.005 0.24 2.3 0.004
24AR19-088 508374 7699733 0.01 0.008 0.2 113.5 0.095
24AR19-089 505100 7698891 0.01 0.001 0.02 2.2 0.003
24AR19-090 505122 7698874 0.01 0.001 0.1 1.7 0.002
24AR19-091 508083 7699692 0.005 0.008 0.31 4.1 0.008
24AR19-092 508097 7699714 0.01 0.003 0.26 2.8 0.005
24AR19-093 508155 7699673 0.01 0.001 0.04 1.7 0.002
24AR19-094 508201 7699636 0.005 0.005 0.07 2.1 0.007
24AR19-095 505190 7698876 0.005 0.004 0.14 15 0.016
24AR19-096 505186 7698872 0.005 0.002 0.38 5.3 0.006
24AR19-097 505157 7698877 0.03 0.006 0.13 14.5 0.016
Table 3. Assay results for all rock chip samples (97) from recent
reconnaissance - 24AR19.
* Assay results for Au from FA with gravimetric finish, reported as the
average of triplicates.
Appendix 2 Mineral Resource Estimate
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 rock chip samples collected by Artemis Resources during field reconnaissance
minerals under investigation, such as down hole gamma sondes, or handheld XRF exercises. Some sampling across sub crop and 3 samples from float. Rock
instruments, etc). These examples should not be taken as limiting the broad chips containing visible gold have been selectively sampled from in-situ
meaning of sampling. veining.
· Include reference to measures taken to ensure sample representivity · Rock chip sample weight varies between 0.15kg to 4.14kg, average
and the appropriate calibration of any measurement tools or systems used. weight of samples is 1.2kg
· Aspects of the determination of mineralisation that are Material to · Some samples have similar coordinates as they have been collected
the Public Report. adjacent to one another or below at depth. These samples can be treated as
duplicates
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m · The rock chip samples of the veins are irregularly spaced which is
samples from which 3 kg was pulverised to produce a 30 g charge for fire considered appropriate for "regional-scale" reconnaissance-level gold
assay'). In other cases more explanation may be required, such as where there exploration.
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed · Rock chips are random, subject to bias and often unrepresentative for
information. the typical widths and assay grades required for economic consideration. They
are by nature difficult to duplicate with any acceptable form of precision or
accuracy.
· In some instances, a small 4-tonne excavator was used to expose vein
material for sampling.
· High iron oxide parts of the vein sampled vary in hardness &
friability and easily fragmented during sampling. Samples may comprise of
combined many multiple fragments.
· Samples were dispatched to ALS Global Laboratories in Perth for
analysis.
· Analysis included:
- Au-AA26 - Au 50g FA AA finish
- Au-GRA22 - default overlimit method - 50g FA with Gravimetric
finish; upper limit of the method 10,000ppm; ME-MS6148 element four acid
digestion and ICP-MS finish.
- Trigger default overlimit method also requested for Ag, Cu, and
Zn
· Au analysis turned off for samples 24AR11-004, 24AR11-005 &
24AR11-008 due to significant Au concentration which is unable to be processed
in geochemical fire assay facility, likely >1%
· A selection of vein samples which contained significant visible
gold (field observation determination of approximately > 5% visible gold
VG) or those that reached over limits values at ALS were subsequently analysed
using gravimetric finish at Independent Assay Laboratories (IAL)
· IAL gravimetric finish with respect to samples containing VG and
reporting overlimit at ALS was as follows:
· Nominal 50g of sample are taken from prepared pulps and mixed
with various fluxes which are individually altered according to the mineral
type to form the optimum silicate slag. Samples were so high in gold content
that sample mass was reduced in order for the samples to be processed. Lead
oxide is used to form droplets of lead metal which collect the gold in the
sample by alloying as it falls through the molten slag. Silver is added as
silver nitrate and is also collected as a silver/gold/lead alloy.
· The lead metal containing the gold and silver is oxidised in a
muffle furnace to form lead oxide. This is absorbed into magnesium oxide
cupels and the gold and silver, being more noble than the lead, remain as a
metal alloy.
· Provided the silver present in the prill is three times that of
gold the silver will dissolve in acid. The samples in question had a much
higher gold to silver ratio so silver was added and re-processed to add more
silver so that all the silver would dissolve (a process called "inquarting" or
making the silver three times the amount of gold). The recovered gold and
silver were so large the recovered metal was rolled into "cornets" to allow
the acid to dissolve the silver. The silver was dissolved with nitric acid and
the remaining gold was washed with distilled water to remove the silver
nitrate and excess nitric acid. The gold was dried and toughened by annealing
at 8000(O)C prior to weighing on a microbalance.
· The balance has a large dynamic range and is accurate over many
orders of magnitude. The lowest weighable mass is 1 microgram (0.000001 g).
The final cornets weighed between 700mg and 2 grams on the samples as assayed.
· The samples were assayed in triplicate and reported in % .
Artemis convert % to g/t using the calculation : g/t =sample%value x 10,000
·
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 drilling has been undertaken.
results assessed.
· 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 · Logging of rock chips are collected using Fulcrum App which has been
geotechnically logged to a level of detail to support appropriate Mineral set up for project geology requirements. Data recorded includes GPS location,
Resource estimation, mining studies and metallurgical studies. lithology, mineralisation, alteration, structure. All data is captured using
field note pad - Samsung Active-3. The level of logging detail is sufficient
· Whether logging is qualitative or quantitative in nature. Core (or for exploration reconnaissance purposes.
costean, channel, etc) photography.
· Alteration interpretation is preliminary and determined by field
· The total length and percentage of the relevant intersections logged. observation and correlated against World View 3 enhanced imagery. This work
remains ongoing
· Structural interpretation is preliminary and based on field limited
structural recordings. This work remains ongoing.
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), and Au-AA26 (1 element) for
total. 49 elements in total.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, · The laboratory reported the use of standards and blanks as part of
the parameters used in determining the analysis including instrument make and the analyses for QA/QC.
model, reading times, calibrations factors applied and their derivation, etc.
· No standards or blanks were submitted by the company.
· Nature of quality control procedures adopted (eg standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of · Samples with visible gold and reporting Au overlimit at ALS were
accuracy (ie lack of bias) and precision have been established. processed at IAL using gravimetric finish [or other description to match the
level of description of the analysis technique that we have provided for the
ALS method].
Verification of sampling and assaying · The verification of significant intersections by either independent · Rock chip sample and geological information is recorded in the field
or alternative company personnel. with co-ordinates saved from in built tough book GPS and handheld GPS used in
the field.
· The use of twinned holes.
· All rock chip samples were inspected and described by Artemis
· Documentation of primary data, data entry procedures, data geologists in the field.
verification, data storage (physical and electronic) protocols.
· Field data is entered into Fulcrum App before being loaded into a
· Discuss any adjustment to assay data. database.
· All data has been maintained, validated, and managed by
administrative geologist.
· Analytical results received from the lab have been loaded directly
into the database with no manual transcription of these results undertaken,
· Original lab certificates have been stored electronically.
· Below detection limit data presented as 1/2 of the lower detection
limit of the method and over the detection limit results presented as the
upper detection limit of the method.
· A nominal 0.5g/t gold cutoff grade was applied for reporting of
exploration in table 3. This cut off gold value is accepted as being a
potential economical grade for a mining operation and as such forms the basis
of being a significant result
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Sample points were determined by in built tough book GPS and hand
and down-hole surveys), trenches, mine workings and other locations used in held GPS which is considered appropriate for the reconnaissance nature of the
Mineral Resource estimation. sampling.
· Specification of the grid system used. · GPS error is approximately 1-5m for Easting & Northing and up to
10m for elevation (m)
· Quality and adequacy of topographic control.
· All sample location coordinates are provided in the Geocentric Datum
of Australia (GDA94 Zone 50).
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 in situ veins. If visible
possible structures and the extent to which this is known, considering the gold in veining is observed this material have been selectively sampled. This
deposit type. sample material comprising quartz-iron oxides and visible gold likely reflects
the nuggety nature of the mineralised system.
· 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 - revised
(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
agreements or material issues with third parties such as joint ventures, granted 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 DEMIRS 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. · Surface mineralisation is consistent with structure-controlled shear
zone lodes in Archean low grade metamorphic and accretionary terrains.
Implications for intrusion related mineralised systems is also being
considered.
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 · Previous Drilling completed by Artemis Resources, Legend Mining and
reported including (but not limited to): geological observations; geophysical Open Pit Mining
survey results; geochemical survey results; bulk samples - size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical Titan Prospect
and rock characteristics; potential deleterious or contaminating substances.
· Limited historic work completed including 1 drill hole by Legend
Mining Ltd for a total depth of 50m (GC19). This hole is located
approximately 750m NE of the recently returned positive Au rock chips and
Titan high-grade vein discovery. No assay data records have been located for
this historic drill hole.
Carlow Castle Prospect
· Carlow Inferred Resource 704,000Au Eq @ 2.5g/t Au Eq from 8.74MT
(refer to ASX announcement 13(th) Oct 2022 Drillhole data comprised 65,355 m,
consisting of 58,261 m of RC and 7,094 m diamond holes. Chapman & Thorpe
Prospects (previously known as Good Luck and Little Fortune) Historical work
completed by Open Pit Mining NL (between 1985 & 1987) and Legend Mining
NL.
· Work completed by Open Pit consisted of geological mapping,
geophysical surveying (IP), and RC drilling and sampling.
· Work completed by Legend Mining Ltd consisted of geological
mapping and further RC drilling.
· Total of 19 drill holes completed at Chapman prospect for a total
4,847.3m including 18 RC (4,673m) and 1 Diamond drill hole (174.3m) - best
intercept included 10m @ 3.4% Cu & 1.75g/t Au from 116m (GLC007).
Results are encouraging however considered preliminary in nature
· Total of 8 RC drill holes completed at Thorpe Prospect for a
total of 2,017m - best intercept included 6m @ 0.85% Cu from 20m including
3.6% Cu & 2.33g/t Au from 23m (LFC007). (refer to ASX announcement 06
December 2021) Results are encouraging however considered preliminary in
nature
· Lulu Prospect (previously known as Carlow West)
· Total of 126 RC drill holes completed at Lulu Prospect for a
total of 3694m. Best intercepts include
o 2m @ 1.63 g/t Au from 34m in CWRC006
o 1m @ 4.89 g/t Au from 24m in CWRC011
o 1m @ 1.15 g/t Au from 9m in CWRC017
(refer to ASX announcement 18(th) September 2020). Results are encouraging
however considered preliminary in nature
Sing Well - Sing Six Prospects
· Total of 14 RC drill holes completed for a total of 376m. Best
intercept included 2m @ 0.97g/t Au from 9m (SSRC007) (refer to ASX
announcement 18(th) September 2020
· Geochemical sampling and geological mapping were completed by Artemis
Resources and reported to the ASX on 5th November 2018.
· Historic drilling completed by Legend Mining Ltd across Carlow
Licence area (E47/1797)
· 124 drill holes for a total of 3158m, 77 drill holes with assays.
Validation & compilation of historic data is ongoing.
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. Geophysical reprocessing of historical data is being
· Diagrams clearly highlighting the areas of possible extensions, undertaken to determine what may underpin potential mineralisation in the
including the main geological interpretations and future drilling areas, Carlow licence area.
provided this information is not commercially sensitive.
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