REG - Artemis Resources Ld - Maiden Diamond Drill Hole Completed at Osborne JV
29/11/2023 07:15
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RNS Number : 0478V Artemis Resources Limited 29 November 2023
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH IS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED ("MAR"). UPON
THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE,
THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
Artemis Resources Limited
("Artemis" or the "Company")
(ASX/AIM: ARV, FRA: ATY, US: ARTTF)
MAIDEN DIAMOND DRILL HOLE COMPLETED AT OSBORNE JV
DRILLING CONTINUES AT OSBORNE AND KOBE PEGMATITE TRENDS
Highlights:
· Osborne pegmatites intersected in stratigraphic diamond hole - hole
completed at 810.2m depth
· Pegmatite intersections up to 24.6m thick, approx. 550m down dip of
Osborne lithium pegmatite surface outcrops
· Three zones identified down dip of Wally and Osborne targets each
comprising multiple stacked occurrences of pegmatite
· Heritage report for the recently completed initial heritage survey
has been received enabling access for drilling at Osborne and Kobe
· XRD analyses have previously confirmed spodumene bearing pegmatite
at Osborne and Kobe
· Diamond drilling is continuing at the Osborne JV (GRE 51%; ARV 49%)
· The Osborne West Pilbara lithium project is to the west of and in
proximity to Azure Minerals (ASX: AZS) Andover Discovery
Artemis Resources Ltd (ASX/AIM: ARV) (Artemis or the Company) is pleased to
advise that the lithium pegmatite focused maiden Diamond Drilling (DDH)
program at the Osborne JV tenement E47/3719, a joint venture (51% GRE: 49%
ARV) held with Greentech Metals Ltd (ASX: GRE) is continuing as planned with
the first hole completed to a depth of 810.2m.
Executive Director George Ventouras commented: "This first diamond hole is the
culmination of extensive ground reconnaissance and analysis by the technical
team. It is a confirmation of the rock chip and soil sampling results that
have been achieved to date and suggests that we are on the right exploration
pathway. We are looking forward to continuing with the drilling program and to
further confirm the extent of lithium mineralisation".
Several more diamond drill holes will be completed as part of this maiden
drill program. These drill holes will be sited at both the Osborne and Kobe
pegmatite trends within the Osborne JV tenement, aimed at providing
stratigraphic/structural information and subsurface characteristics of these
pegmatite zones. This data will assist with refining the detailed follow-up
drill program scheduled for early next year.
Details of Drill hole 23GTDD001
The initial drill hole 23GTDD001 was sited to the north of the Southern
Pegmatite zone (Table 1) at a location previously heritage cleared for
drilling. The hole was drilled to the south at a declination of 40(O) to
primarily test the Osborne trend and also intersect the Wally trend albeit in
a position where surface mapping indicates the Wally trend is attenuated
(Figures 1 and 2). The hole was designed to further understand host rock
geology and test down dip structural controls of surface outcropping lithium
pegmatites previously identified from recently completed mapping and chip
sampling programs. The drill hole was terminated at 810.2m depth, still
within mineralisation.
The Southern LCT pegmatite zone sits within the Osborne JV Project tenements
and comprises a total combined 4km of pegmatite strike along which previous
rock chip samples have returned assay results of up to 3.63% Li(2)O(1). ( )
( )
The initial observations from this drill hole appear very encouraging and are
summarised as follows:
· Multiple zones of north dipping stacked pegmatites have been
identified down dip of Wally and Osborne.
· Individual pegmatite drill hole intersection widths range up to 24.6m
· A zone at least 57m wide comprising a series of closely stacked
pegmatites has been intersected below 753m depth.
· Preliminary interpretation suggests the Osborne pegmatite outcrop
zone extends from surface down dip for at least 550m.
· Hole terminated within a pegmatite zone at 810.20m indicating the
system remains open at depth
Detailed logging and sampling of 23GTDD001 has commenced and samples will be
submitted for analysis this week.
(1)ASX Announcement, Artemis Resources, 24 July 2023
Photo 1: Part section of ~24.6m drill intersect of mica-quartz-feldspar
pegmatite zone between 674m to 698.6m depth (Drill hole 23GTDD001). Intercept
width approximates true thickness. Preliminary interpretation suggests this
correlates with the southern surface expression of the Osborne pegmatite zone
located approximately 550m up dip from this intersection.
Forward Exploration Program
A second diamond drill hole in the Southern Pegmatite Zone designed to test a
thicker part of the Wally trend approximately 350m east of 23GTDD001 (Figure
1) is already underway. Further, it is intended that another two stratigraphic
diamond drill holes will look to be completed on the Kobe Zone as part of this
maiden program with all diamond drilling in this first program is situated
within the JV tenement.
A follow-up RC drill program is anticipated to commence in the first quarter
of 2024. The design and implementation of this more detailed drill program
will incorporate results and information gained from the current drill
program. Approved programs of work (PoW's) and heritage clearances which
facilitate current and future drill programs on the project tenements have
been received.
The Company is looking forward to continuing the exploration efforts at the
Osborne JV tenement and will distribute all results and assays to market after
they are received and assessed.
The Company will also be continuing with exploration activities on its 100%
owned tenure which is likely to include mapping, soil and rock chip sampling
together with analysis of aerial imagery.
Technical information included in this announcement has previously been
provided to the market in releases dated:
7 July 2023 Further High Grade Lithium
Encountered at Ruth Well
10 July 2023 Lithium Bearing Pegmatites
Identified West Pilbara JV
24 July 2023 Further High-Grade Lithium
Assays Reported At Osborne JV
1 September 2023 Analysis Confirms Spodumene at Osborne JV
5 September 2023 New Lithium Targets at Ruth Well and Osborne JV
5 October 2023 Multiple Pegmatites ARV Ground &
Further Osborne JV Results
30 October 2023 Further High Grade Rock Chip Samples -
Osborne Lithium JV
6 November 2023 Drilling Commences Osborne Joint Venture Lithium
project
This announcement has been approved for release by the Board.
ENDS
For Further information contact:
Artemis Resources Limited
Guy Robertson via Camarco
info@artemisresources.com.au (mailto:info@artemisresources.com.au)
WH Ireland Limited (Nominated Adviser and Broker)
Antonio Bossi / James Bavister / Isaac Hooper Tel: +44 20 7220 1666
About Artemis Resources
Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) Artemis Resources
Limited is a gold, copper and lithium focused resources company with three
major projects in Western Australia; the Greater Carlow Castle
gold-copper-cobalt project in the West Pilbara; the Paterson Central project
in the Paterson Province (located adjacent to Greatland Gold / Newcrest's
recent gold-copper discovery at Havieron; and the Osborne JV (Artemis 49%;
GreenTech Metals (ASX:GRE) 51%) in the West Pilbara.
Artemis also owns the Radio Hill processing plant, the only processing plant
in the West Pilbara region, 35km from Karratha.
For more information, please visit www.artemisresources.com.au
(http://www.artemisresources.com.au)
Competent Person Statement
Adrian Hell, BSc (Hons), MSc, 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.
*
*Heritage Cleared in 2022 for Osborne nickel project
Figure 1. Diamond Drill hole Plan showing drill hole traces - Osborne and
Wally Targets
Figure 2: Schematic Cross Section 23GTDD001
Figure 3. Historic Soil Geochemistry and recently Mapped Pegmatite Swarms
highlighting Northern & Southern Pegmatite
Figure 4. Historic Soil Geochemistry and recently Mapped Pegmatite Swarms
highlighting Southern Pegmatite Trends at Osborne JV
Figure 5. Artemis Resources' Project Location, West Pilbara Region
Appendix
Table 1: Details of Diamond Drilling
Drill Hole ID Location RL(m) Depth Dip Azimuth
GDA East GDA North
23GTDD001 493160 7691875 45.4 810.2 -40 176
23GTDD002 493509 7691879 38.9 Planned 300 -50 195
Notes
Coordinate system GDA94z50, obtained by handheld GPS, accuracy +/- 3m
JORC Code, 2012 Edition - Table 1 report template
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
Sampling techniques · Nature and quality of sampling (eg cut channels, random chips, · Not Applicable
or specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling.
· Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any measurement tools or
systems used.
· Aspects of the determination of mineralisation that are
Material to the Public Report.
· In cases where 'industry standard' work has been done this
would be relatively simple (eg 'reverse circulation drilling was used to
obtain 1 m 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 is coarse gold that has inherent sampling problems. Unusual commodities
or mineralisation types (eg submarine nodules) may warrant disclosure of
detailed information.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, · Not applicable.
rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter,
triple or standard tube, depth of diamond tails, face-sampling bit or other · This announcement relates in part to drilling carried out by
type, whether core is oriented and if so, by what method, etc). Artemis Resources Ltd and Greentech Metals Ltd as partners to the JV for which
no laboratory results are available.
· No mention is made in this announcement of exploration drilling
sample results including drilling conducted by other companies on nearby
tenements.
Drill sample recovery · Method of recording and assessing core and chip sample · Diamond drilling was undertaken by Artemis/Greentech as part of
recoveries and results assessed. the JV but no laboratory results are available and are not discussed or
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 · No drill core sample assay results are available and hence
geotechnically logged to a level of detail to support appropriate Mineral these are not discussed in this announcement.
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 · No sampling of drill core has been completed
core taken.
· 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 · No sampling of drill core has been completed .
laboratory procedures used and whether the technique is considered partial or
total.
· For geophysical tools, spectrometers, handheld XRF instruments,
etc, the parameters used in determining the analysis including instrument make
and model, reading times, calibrations factors applied and their derivation,
etc.
· Nature of quality control procedures adopted (e.g. standards,
blanks, duplicates, external laboratory checks) and whether acceptable levels
of accuracy (i.e. lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either · Not Applicable
independent or alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes · Sample points were determined by hand held GPS which is
(collar and down-hole surveys), trenches, mine workings and other locations considered appropriate for the reconnaissance nature of the sampling.
used in Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Not applicable.
· Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity appropriate for the
Mineral Resource and Ore Reserve estimation procedure(s) and classifications
applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling · Not applicable
of possible structures and the extent to which this is known, considering the
deposit type. · The sampling of drill core has yet to be completed and is not
discussed in this announcement.
· 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 · No review of the sampling techniques has been undertaken.
data.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including · Tenement E47/3719 is subject to a Greentech Metals/Artemis
agreements or material issues with third parties such as joint ventures, Resources 51%/49% Joint Venture
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · The tenements are in good standing with DMIRS and there are no
known impediments for exploration on these tenements.
· The security of the tenure held at the time of reporting along
with any known impediments to obtaining a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Numerous exploration parties have held the area covered by the
current Osborne JV tenure previously. There is no reported previous
exploration for lithium bearing pegmatites on the tenements.
· No other exploration companies generated data was used in this
release.
· Regional RTP aeromagnetics and geology from Geological Survey
of WA.
· The area was previously explored by Fox Resources Ltd and
Artemis Resources Ltd with both focussed on nickel exploration.
Geology · Deposit type, geological setting and style of mineralisation. · The lithium bearing pegmatite zone trends WNW-ESE and is hosted
by strongly sheared sediments of the Regal Formation.
· The pegmatites occur as intermittent lenses in strongly sheared
sediments assigned to the Regal Formation and are located approximately 3km to
the north of the Sholl Shear Zone.
· The pegmatites are steeply dipping and up to 20m wide.
· The project area is underlain by the Archean Pilbara Craton,
specifically the West Pilbara Superterrane (WPST) of Hickman (2016). The
3280-3070 Ma WPST comprises numerous tectonostratigraphic packages (Sholl,
Regal and Karratha Terranes and the Whundo and Nickol River Basins) and
igneous complexes that have been variously affected by several tectonic
events. The easterly to east-north easterly trending Sholl Shear Zone (SSZ) is
a boundary for the regional rock packages. Metamorphic grade is higher to the
north of the SSZ, suggesting the present-day surface shows a slightly deeper
crustal level on the north side.
Drill hole Information · A summary of all information material to the understanding of · Details of the drill hole discussed in this announcement is
the exploration results including a tabulation of the following information included in the announcement
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 · Not applicable
techniques, maximum and/or minimum grade truncations (e.g. 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 · Not applicable as surface sampling is reconnaissance in nature.
of 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 (e.g. '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
practicable, representative reporting of both low and high grades and/or reconnaissance 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
reported including (but not limited to): geological observations; geophysical body of 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 (e.g. tests for · Artemis and Greentech plan to conduct further ground
lateral extensions or depth extensions or large-scale step-out drilling). reconnaissance and sampling in the short term to determine the surface extent
both laterally and along strike and also the economic potential of the
· Diagrams clearly highlighting the areas of possible extensions, prospect. Drilling is also being undertaken.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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