REG - Artemis Resources Ld - ROCK CHIP RESULTS FROM MT MARIE
09/05/2024 07:00
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RNS Number : 7658N Artemis Resources Limited 09 May 2024
9(th) May 2024
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")
FURTHER HIGH-GRADE ROCK CHIP RESULTS FROM MT MARIE
MULTIPLE ASSAYS REPORT GREATER THAN 4% Li(2)O
POSITIVE ASSAY RESULTS AT OSBORNE EAST
OSBORNE EAST STRIKE LENGTH INCREASES
_______________________________________________________________________________
Highlights:
· Mt Marie Prospect (100% ARV): Further ground reconnaissance sampling
delivers high-grade assay results including:
o 24AR04-07 - 4.63% Li(2)O
o 24AR04-14 - 4.52% Li(2)O
o 24AR04-13 - 4.28% Li(2)O
o 24AR04-12 - 3.63% Li(2)O
o 24AR04-04 - 3.45% Li(2)O
· Osborne East Prospect (100% ARV): Further multiple rock chip assays
>0.50% Li(2)O
· Both trends strike length increased and prospective for further
growth
· Additional programs to identify sub-surface pegmatites and lithium
mineralisation are being considered
· Program of works (PoW's) have been submitted and approved and
heritage clearance applications are in process
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to announce its recent ground reconnaissance program continues to
demonstrate consistency, growing the strike length and grade of its lithium
prospects in the Pilbara region of Western Australia.
Executive Director George Ventouras commented: "We are pleased with the
results of the latest sample assays received from the lab which continue to
point to a high-grade lithium mineralised system. The Mt Marie prospect is
fast becoming a priority one target which will be ripe for drilling once
heritage clearances are completed.
Together with the Osborne East prospect, and many more kilometres of tenure
unexplored for lithium, we are looking forward to continued work programs."
Figure 1. Artemis Resources West Pilbara tenements
Figure 2. Location of Mt Marie and Osborne East Lithium Prospects
Mt Marie Lithium Prospect
Further ground reconnaissance was completed in late February and looked to
expand on the previously received results where rock chip assays peaked at
4.67% Li(2)O at the Mt Marie Prospect.(1) The ground crew revisited the Mt
Marie prospect region in April and secured additional high-grade samples to
confirm the mineralisation. These results have provided an even higher level
of confidence in the grade and potential scale of Mt Marie.
The outcropping strike length of the Mt Marie prospect has now increased to
more than 230m.
Additional programs to identify sub-surface pegmatites and lithium
mineralisation are currently being considered and will be put into place in
the near future.
Figure 3. Rock chip sample location current and previous results at the Mt
Marie Lithium Prospect
(1)ASX Announcement, Artemis Resources Ltd, 6 March 2024
Osborne East Lithium Prospect
Osborne East was also the subject of additional sampling, resulting in another
round of multiple rock chip assays returning greater than 0.5% Li(2)O.
As a result, the strike length of the Osborne East prospect has again been
extended through this most recent program with multiple zones of pegmatite
extending across an area of 500mx350m and which remains prospective for
further growth.
Figure 4. Rock chip sample location, current and previous results at the
Osborne East Lithium Prospect
Rock chip assay results
In total, 36 rock chip samples were collected from both the Mt Marie and
Osborne East prospects and dispatched to the lab for multi-element analysis.
The rock chip assays delivered excellent results which include the following;
Mt Marie Prospect
o 24AR04-07 - 4.63% Li(2)O
o 24AR04-14 - 4.52% Li(2)O
o 24AR04-13 - 4.28% Li(2)O
o 24AR04-12 - 3.63% Li(2)O
o 24AR04-04 - 3.45% Li(2)O
Osborne East Prospect
§ 24AR04-20 - 0.69% Li(2)O
§ 24AR04-24 - 0.60% Li(2)O
§ 24AR04-25 - 0.59% Li(2)O
§ 24AR04-26 - 0.59% Li(2)O
Rock chip samples from the Mt Marie prospect were previously tested for
mineralogy type at Curtin University and the analysis confirmed that the host
mineral for the lithium is spodumene.(2)
This level of Li(2)O result has again confirmed the high degree of grade in a
regional context, reflected by Azure Minerals' Andover project which recorded
a peak rock chip assay result of 4.87% Li(2)O(3) and have reported an
exploration target of 100-240Mt @ 1.00-1.5% Li(2)O(4) (Azure Minerals has
recently been granted takeover approval by the Foreign Investment Review
Board - FIRB - for a takeover proposal via a joint bid with SQM and Hancock
Prospecting).(5)
The lithium bearing pegmatite at the Mt Marie prospect occurs along a mirrored
or similar NE structural trend to pegmatites discovered by Azure Minerals only
20km to the east. Given the location of the Artemis tenements in relation to
the Azure discovery and the proximity to Karratha and its logistical
advantages, the potential pathway for the Mt Marie lithium prospect is
becoming clearer and more compelling.
(2)ASX Announcement, Artemis Resources Ltd, 5 February 2024
(3)ASX Announcement, Azure Minerals Ltd, 20 January 2023
(4)ASX Announcement, Azure Minerals Ltd, 7 August 2023
(5)ASX Announcement, Azure Minerals Ltd, 30 April 2024
The Mt Marie pegmatite exhibits a zoning pattern characterised by a dominant
outer quartz, feldspar, and mica coarse crystalline texture. This zone
displays a high frequency of large spodumene crystals up to 40% of the bulk
composition. The pegmatite often exhibits a foliation texture with the
spodumene crystals commonly aligned subparallel to the host rock contact.
The less dominant and inner zone is characterised by a quartz/silica core.
Further work on the tenements across the major structural zones will follow on
from exploration already conducted including drone surveying, rock chip
sampling, soil sampling and other appropriate ground reconnaissance where
appropriate. The technical team will continue to cover priority areas
identified through previous review and will then step this out to consider
exploration programs across the tenement package as a whole. Program of works
(PoW's) have been submitted and approved and heritage clearance applications
are in process.
Figure 5. Pegmatite outcrop at the Mt Marie Prospect
In regards to the Osborne Lithium Project which is a joint venture with
Greentech Metals (ASX:GRE) (ARV:49%-GRE:51%), the Company can advise that the
follow-up drill program initially scheduled to commence late in Q3 2024 has
been delayed while the technical team completes a structural analysis of the
project area aimed at gaining a better understanding of the controls on the
lithium pegmatites. The identification of more prospective and thicker
sections of the lithium bearing pegmatites will allow for better drill
targeting of the pegmatite trends and potentially more positive results from
the drill program.
The pegmatite trends identified at the Osborne JV and greater area are part of
a large and fertile system hence conducting this study will provide more
efficiency in the drill targeting. The market will be updated when the review
is complete and drilling is set to commence.
This announcement was approved for release by the Board.
For further information contact:
Artemis Resources Ltd
Guy Robertson, Chairman info@artemisresources.com.au
George Ventouras, Executive Director
WH Ireland Limited (Nomad & Broker)
Antonio Bossi / James Bavister / Isaac Hooper Tel: +44 20 7220 1666
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 Mt
Marie Lithium Prospect, the Osborne Lithium JV (Artemis 49%; GreenTech Metals
(ASX:GRE) 51%) and the Carlow Castle gold-copper-cobalt project in the West
Pilbara; and the 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.
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.
Dr Martin Wells (PhD). The sample testing was carried out in the John de
Laeter Centre at Curtin University. Spodumene was identified using a
proprietary automated mineralogy technique and confirmed using x-ray
diffraction (XRD) analysis by Dr Martin Wells (PhD). Dr Wells is a Research
Fellow (Mineralogy/Petrology) and an authority in lithium ore deposits as
evidenced by his authorship of the 2023 Geological Survey of Western Australia
Report 228 (The geology, mineralogy and Geometallurgy of EV materials deposits
in Western Australia;
https://dmpbookshop.eruditetechnologies.com.au/product/mriwa-report-m532-geology-mineralogy-and-metallurgy-of-ematerial-resources-in-wa.do
(https://dmpbookshop.eruditetechnologies.com.au/product/mriwa-report-m532-geology-mineralogy-and-metallurgy-of-ematerial-resources-in-wa.do)
). Dr Martin Wells consents to the inclusion in the report of the information
pertaining to sample analyses undertaken at the John De Laeter Centre in the
form and context in which it appears.
Significant Results > 0.5% Li(2)O
JORC Code, 2012 Edition - Table 1 report template
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 · Reconnaissance style rock chip sampling taken opportunistically from
specific specialised industry standard measurement tools appropriate to the pegmatite outcrop.
minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad · This announcement discusses the findings of a reconnaissance site
meaning of sampling. visit with a view to determining the lithium potential of the Company's
tenements and which included the collection of rock chip samples.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · Pegmatite was identified in outcrop.
· Aspects of the determination of mineralisation that are Material to · The rock chip samples were restricted to outcrop of pegmatite rocks.
the Public Report.
· Samples were dispatched to ALS Global Laboratories in Perth for
· In cases where 'industry standard' work has been done this would be analysis.
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, rotary · Not applicable.
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, · This announcement does not relate to drilling carried out by Artemis
whether core is oriented and if so, by what method, etc). Resources Ltd.
· No mention is made in this announcement of exploration results
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 details on any drilling carried out by Artemis
results assessed. Resources are 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 · Not applicable due to the reconnaissance nature of the sampling.
geotechnically logged to a level of detail to support appropriate Mineral
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 core · Rock chip samples were dispatched to ALS Global Laboratories in Perth
taken. for analysis using their ME_MS89L (52 elements) plus B-MS89L technique. 53
elements in total. Sample decomposition by Sodium Peroxide Fusion, HCl leach
· If non-core, whether riffled, tube sampled, rotary split, etc and (FUS-PER02) is considered complete.
whether sampled wet or dry.
· The laboratory reported the use of standards and blanks as part of
· For all sample types, the nature, quality and appropriateness of the the analyses for QA/QC. In addition to the lab standards and blanks,
sample preparation technique. three lab pulp duplicates were also reported.
· Quality control procedures adopted for all sub-sampling stages to · The samples were opportunistic in nature and taken from insitu
maximise representivity of samples. outcrop.
· Measures taken to ensure that the sampling is representative of the · Samples were approximately 0.5kg to 1kg in weight.
insitu material collected, including for instance results for field
duplicate/second-half sampling. · The samples were considered generally representative of the outcrop
being sampled.
· 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_MS89L (52 elements) plus B-MS89L technique. 53
total. 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 · The mineralogy of two lithium bearing samples was determined by XRD
accuracy (ie lack of bias) and precision have been established. analysis undertaken at Curtain University.
· XRD: Diffraction patterns were obtained using a Bruker D8 Discover
diffractometer using CuKα radiation (40 kV and 40 mA) and scanning from 4 to
90° 2θ in 0.015° 2θ steps, counting for 1.08 s/step for a total scan time
of ≈100 minutes/scan •
· Samples were prepared for random-powder XRD analysis by front loading
of pulverised material into a plastic mount • Diffraction patterns displayed
in the following slides are presented over the 5-60° and 10°33° 2θ
angle-range to better display some of the less intense peaks • To correct
for 2θ shifts in the diffraction patterns was shifted using quartz as the
internal standard.
· TIMA automated mineralogy: Mineral and element distribution maps of
two polished round mounts (25 mm diameter) were obtained using the TIMA
(Tescan Integrated Mineral Analyser), automated mineralogy system at the John
De Lataeur Centre.
Verification of sampling and assaying · The verification of significant intersections by either independent · Duplicate samples of the lithium bearing pegmatite have been
or alternative company personnel. submitted to Curtin University in Perth for XRD analysis.
· The use of twinned holes. · The results of these verification analyses have been received.
· 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 (collar · Sample points were determined by hand held GPS which is considered
and down-hole surveys), trenches, mine workings and other locations used in appropriate for the reconnaissance nature of the sampling.
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 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.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Not applicable as no drilling has been undertaken
possible structures and the extent to which this is known, considering the
deposit type. · The rock chip sampling has been completed across the general area of
the pegmatite bodies.
· 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
(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 Mt Marie project tenement covers an area of 126km(2) and
agreements or material issues with third parties such as joint ventures, comprises granted tenement: E47/1746
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · The tenement is 100% owned by Artemis Resources subsidiary company
KML No 2 Pty Ltd
· 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. · The tenement is in good standing with DMIRS and there are no known
impediments for exploration on these tenements.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Numerous exploration parties have held the area covered by the
current Artemis Resources 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 was
focussed on nickel and gold exploration.
Geology · Deposit type, geological setting and style of mineralisation. · The lithium bearing pegmatite zone trends NE-SW and is hosted in
proximity to the contact between the Regal and the Clearville Formations.
· The lithium pegmatites appear as coarse crystalline with primary
feldspar quartz composition. Further mapping is being undertaken to understand
the surface characteristics.
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 no weighting of averages in assays has been
maximum and/or minimum grade truncations (eg cutting of high grades) and undertaken.
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 · All the meaningful exploration data has been included in the body of
reported including (but not limited to): geological observations; geophysical 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 (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 and also the economic potential of the prospect. Trenching and
· Diagrams clearly highlighting the areas of possible extensions, drilling will also be undertaken if warranted.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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