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Artemis Resources Ld - Carlow Tenement - Phase One Drilling Completed

RNS Number : 1669B

Artemis Resources Limited

19 March 2025

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation ("MAR") (EU) No. 596/2014, as incorporated into UK law by the European Union (Withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

19 March 2025

 

PILBARA GOLD - CARLOW TENEMENT

Phase one DRILLING COMPLETED  

_______________________________________________________________________________

Artemis Resources Limited ("Artemis" or "the Company") (ASX/AIM:ARV) is pleased to announce completion of the first phase of drilling (reported on 28 January 2025) to test three previously undrilled, high priority gold targets on the Carlow Tenement. 

Highlights

 

·    Five diamond holes were completed during Phase 1 for a total 1,790m drilled

 

·    Drilling tested three high priority gold targets within a >4km long corridor centred around the Company's Carlow gold/copper deposit

 

·    Target areas drilled:

o Titan gold prospect, 2km northwest of the Carlow deposit

o Marillion EM target, 800m east of the Carlow deposit

o Potential extensions down plunge from the Carlow deposit

 

·    All three holes at Titan intersected a wide zone of hydrothermal alteration and veining in an ultramafic sequence down dip from a surface gold occurence1

 

·    The base of the Titan ultramafic sequence is intruded by a porphyry sill and overlies strongly altered, brecciated and veined metasediments and chert

 

·    pXRF2 readings of drill core from Titan recorded at 1m intervals across the alteration zone identified highly elevated levels of arsenic in all three holes

 

·    Arsenic can be associated with gold mineralisation, notably in the emerging north Pilbara gold province and including at Artemis's Carlow deposit

 

·    Re-modelling of geophysical data confirms the Titan holes were drilled across a regional northwest trending structure with no previous drilling

 

·    Both drill holes completed at the Marillion and Carlow extension targets intersected zones of vein hosted, stringer and semi massive sulphides

 

·    Numerous samples of drill core from the five drill holes have been sent for assay with results expected in coming weeks

·      Note1 - Refer to previous Artemis announcements regarding surface gold occurrences at Titan Prospect, listed in Table 1 in this announcement

 

·      Note2 - The following Disclaimer relates to pXRF readings referred to in this announcement, listed in Table 2 and further defined in JORC Table 1:

"The exploration results reported herein include portable X-ray fluorescence (pXRF) measurements, which are considered preliminary and semi-quantitative in nature. The pXRF data have not been verified by independent laboratory assays. The pXRF results should not be considered as a substitute for traditional laboratory analysis, and caution should be exercised when interpreting these results. The Competent Person has reviewed the data and believes the data provide a reasonable indication of geochemical signature of certain geological units subject to confirmation by further analytical methods.

 

"The exploration results reported herein include portable X-ray fluorescence (pXRF) measurements, which are considered preliminary and semi-quantitative in nature. The pXRF data have not been verified by independent laboratory assays. The pXRF results should not be considered as a substitute for traditional laboratory analysis, and caution should be exercised when interpreting these results. The Competent Person has reviewed the data and believes the data provide a reasonable indication of geochemical signature of certain geological units subject to confirmation by further analytical methods.

 

Commenting on the drilling program, Managing Director Julian Hanna said:

"I am pleased to report completion of the Phase 1 drilling program targeting gold at the Carlow Tenement in line with our announcement on 28 January 2025. Five holes for a total of 1,790m were drilled at the Titan prospect, the Marillion conductor and as an initial test of possible extensions down plunge from the Carlow deposit. 

 

The drilling program was successful for several reasons. Firstly, it provided very encouraging early indications from the Titan prospect where high-grade surface gold occurrences1 were announced in 2024 from samples of quartz/ironstone veins and chert outcrops in four different areas at Titan.  While we await assay results to confirm if gold has been intersected at Titan, wide zones of alteration, quartz veining and brecciation were reported in drill core from the three holes drilled to date.

 

Visual observations of hydrothermal-type alteration and intensive veining at Titan are supported by systematic pXRF2 readings of drill core from the three Titan holes.  pXRF readings2 include highly elevated arsenic values (up to 3,460ppm arsenic)directly  above the contact between an ultramafic sequence and an interpreted porphyry intrusion. (Refer to Figure 4 and Table 2).  If gold is associated with arsenic at Titan, this may open-up potential well beyond the area drilled to date.  

 

Drilling at Marillion and Carlow was also successful, intersecting several zones of vein hosted, stringer and semi-massive pyrrhotite with locally visible chalcopyrite sulphide within the target basalt and underlying chert sequence.   

 

Overall, this initial drilling program is already changing our understanding of the geological and structural setting as well as the wider gold potential of this highly mineralised area. Numerous samples from the five diamond holes have been sent for assay and we look forward to announcing results in the near future."

 

Drilling Summary

The Phase I drilling program commenced in early February using locally based drilling contractor West Core Drilling. Diamond drilling started from surface and was effective in providing drill core through the surface oxidation profile, hydrothermal alteration zones and into silicified metasediments which include quartz veins and chert units. Five drill holes were completed over a five-week period for a total 1,790m drilled.

Three holes were drilled as an initial test of the Titan gold prospect located 2km northwest of the Carlow deposit.  The holes were drilled down dip from one of four known surface gold occurrences1 discovered in 2024. (Refer to Figures 3 and 4). 

 

pXRF readings2 of the Titan drill core taken at 1m intervals has defined a continuous zone with elevated levels of arsenic near the base of an ultramafic sequence which displays local spinifex textures, green chrome micas and elevated chromium in pXRF readings2. (Refer to Figure 4 and Table 2).  Assays are awaited to determine if gold is associated with the elevated arsenic in pXRF readings2 in the three Titan drill holes.

 

In addition to Titan, one hole was drilled to test the large Marillion EM conductor 800m east of the Carlow deposit, and one hole was drilled to scope out the potential for extensions down plunge from previous high-grade gold intersections in the Carlow deposit.  (Refer to Figure 5). The Marillion and Carlow extension holes both intersected zones of visible pyrrhotite sulphide containing local intervals of chalcopyrite within the target basalt and chert sequence. 

 

Figure 1: Artemis tenements in Pilbara region of Western Australia with Carlow Tenement hatched

 

 

 

 

                                Figure 2: Carlow Tenement - gravity image showing: Titan gravity low feature (blue), location of high-grade surface gold occurrences1 sampled from quartz/Fe veins and chert outcrops, area of recent drilling at Titan (yellow circle), outline of Carlow deposit and Marillion EM target.      
                              Figure 3: Carlow Tenement - interpreted key elements of the Regal thrust zone showing: chert outcrops (brown), major thrusts (black), Titan gravity-low feature (purple) extending >7km across Carlow Tenement, area of recent drilling at Titan (yellow circle), interpreted gravity-high anomalies (G1-G3) and EM conductive plates (C1-C5).      Figure 4: Titan drill section - interpreted cross section looking north-west showing three sequences interpreted from drill core and the high arsenic zone based on pXRF readings2.  (Refer to Table 2)   Figure 5. Long section through Carlow gold/copper deposit and Marillion Electro Magnetic (EM) conductor showing the two diamond drill holes completed in the Phase 1 program.  
Contacts:
Artemis Resources Ltd
Guy Robertson, Chairman
Julian Hanna, Managing Director
info@artemisresources.com.au
Zeus (Nomad & Broker)
Antonio Bossi / James Bavister /
Gabriella Zwarts
Tel: +44 20 3829 5000
    Competent Person Statement The information in this report that relates to Exploration Results was compiled by Mr Julian Hanna, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hanna is Managing Director of Artemis Resources Ltd and 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 Hanna 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 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.   About Artemis Resources Artemis Resources (ASX/AIM:ARV) is a gold, copper and lithium focused resources company with a highly attractive suite of projects in Western Australia's underexplored North Pilbara Gold Province. ·     Attractive projects: o  Gold/Copper - The Karratha Gold Project (100%) with multiple prospects including the Carlow gold/copper project and The Paterson Gold/Copper Project. o  Lithium - Mt Marie Lithium and Osborne East prospects (100%), & Osborne Lithium JV (49%); ·     Highly strategic location: Tier 1 jurisdiction, close proximity to major hub at Karratha including regional rail and road infrastructure, administrative centre and the Dampier Port ·     Significant exploration upside: highly prospective tenure package in the Pilbara Region of Western Australia which is the next frontier for battery minerals growth ·     Mineral Resource with growth potential: existing high-grade gold-copper-cobalt Inferred Mineral Resource at Carlow (100%-owned tenure) ·     Established processing site at Radio Hill: strategically located, fully permitted ·     IOCG Exploration Target: Artemis has applied for a 340km2 exploration licence over a large interpreted magnetic intrusion considered prospective for IOCG type copper/gold, located 440km east of Kalgoorlie.  The application is expected to be granted in mid 2025     Note 1:  Artemis ASX announcements relating to surface rock chip results from the Karratha Gold Project referred to in this announcement:   High grade rock chip gold assays, 12 June 2024 High grade gold vein discovery at Titan prospect, 16 August 2024 High grade gold vein discovery at Titan prospect amended, 16 August 2024 Titan prospect results - clarification statement, 17 September 2024 Titan delivers further high-grade rock chip results, 10 October 2024 New Regional Discovery High-Grade Cu, Au, Ag Chapman Prospect, 6 December 2021                                                                           Appendix Table 1: Drill hole details.
ProjectHoleIDEastingNorthingGridAziDipEOH
Carlow Extensions25ARDD0025078327698267GDA94 MGA zone 50340-50527.4
Marillion25ARDD0015083467698466GDA94 MGA zone 500-70714.6
Titan East25ARDD0035058277699444GDA94 MGA zone 5045-50148.4
Titan East25ARDD0045058127699429GDA94 MGA zone 5045-65162.5
Titan East25ARDD0055057837699400GDA94 MGA zone 5045-70237.3
   
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD003012229024425ARDD0033031912103735
25ARDD00312818065525ARDD00331323575123734
25ARDD0032364072925ARDD003323382129
25ARDD0033423225474925ARDD0033334175364228
25ARDD003451113462525ARDD003343560265630
25ARDD0035616118684525ARDD0033536275367927
25ARDD0036734251837425ARDD003363762257630
25ARDD00378614053025ARDD003373820184833
25ARDD0038945225845525ARDD00338394596197937
25ARDD003910116352267025ARDD003394010117721
25ARDD00310118118044725ARDD0034041716318
25ARDD003111288260108225ARDD0034142514916
25ARDD0031213302435405925ARDD0034243896
25ARDD0031314316531085325ARDD0034344569
25ARDD0031415270422084825ARDD00344454169
25ARDD0031516653811714225ARDD0034546683
25ARDD0031617289544136825ARDD0034647568
25ARDD0031718253332754325ARDD0034748575
25ARDD0031819192423395225ARDD00348491626922
25ARDD003192095225094725ARDD0034950572
25ARDD0032021106334866225ARDD0035051571
25ARDD003212275211513525ARDD0035152567
25ARDD0032223326415283525ARDD0035253576
25ARDD0032324231411413425ARDD003535457020
25ARDD0032425111342926625ARDD003545554917
25ARDD0032526257425724625ARDD0035556570
25ARDD0032627199420575625ARDD00356574184
25ARDD0032728601823804825ARDD0035758687
25ARDD0032829630823374725ARDD0035859
25ARDD00329307751025275225ARDD0035960216
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD003606162125ARDD00390919140827
25ARDD0036162915992425ARDD003919223238125
25ARDD0036263626671925ARDD00392938135224
25ARDD00363641535752425ARDD0039394815719
25ARDD00364656412033925ARDD003949536289132
25ARDD003656637310611625ARDD00395961216519
25ARDD00366671536272625ARDD003969711135125
25ARDD00367681226222525ARDD003979812133126
25ARDD00368691032731725ARDD003989918129023
25ARDD00369705026102225ARDD0039910035225123
25ARDD00370715545441625ARDD00310010135280731
25ARDD0037172634321625ARDD00310110210156629
25ARDD0037273921961725ARDD00310210311175432
25ARDD00373745571925ARDD0031031045165130
25ARDD003747568225ARDD00310410543237723
25ARDD00375761887725ARDD00310510640260028
25ARDD0037677411925ARDD00310610725158928
25ARDD003777871692325ARDD0031071083128124
25ARDD00378791331424225ARDD00310810914147328
25ARDD0037980104314073125ARDD00310911088258027
25ARDD00380812426013325ARDD00311011142251726
25ARDD0038182615267125ARDD0031111127135724
25ARDD0038283412325ARDD00311211331150626
25ARDD0038384453421925ARDD00311311453265529
25ARDD003848511402025ARDD00311411543241626
25ARDD00385864931825ARDD0031151167174032
25ARDD00386872823972325ARDD0031161173165231
25ARDD003878851112025ARDD00311711821146527
25ARDD0038889612492125ARDD00311811919143126
25ARDD003899054122425ARDD003119120545927
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD0031201215025352725ARDD004126276830
25ARDD0031211226725332725ARDD004238127522
25ARDD0031221234525682625ARDD0043417538624
25ARDD0031231241817122725ARDD00445134829
25ARDD0031241252526032825ARDD004564648231
25ARDD0031251263216142825ARDD00467553829
25ARDD0031261274026573025ARDD00478648829
25ARDD0031271284626612925ARDD00489248336
25ARDD0031281298323922525ARDD004910451111328
25ARDD0031291303126853125ARDD00410118650334
25ARDD0031301311312002225ARDD0041112147333
25ARDD0031311328323762425ARDD00412139160960
25ARDD003132133413612525ARDD004131472273832
25ARDD003133134712332225ARDD0041415482113543
25ARDD0031341353324342525ARDD0041516492267854
25ARDD00313513614936892925ARDD0041617653440950
25ARDD003136137515232925ARDD00417181051297438
25ARDD0031371381412612225ARDD00418191393518258
25ARDD0031381394825122725ARDD00419201364459564
25ARDD0031391401114522925ARDD00420212162482725
25ARDD0031401412923532525ARDD004212253251140
25ARDD0031411421015432825ARDD0042223452257738
25ARDD003142143514582625ARDD0042324492240049
25ARDD00314314452332225ARDD0042425631429626
25ARDD003144145415752925ARDD00425269268937
25ARDD003145146914062625ARDD0042627291149828
25ARDD00314614752792325ARDD004272811356846
25ARDD003147148317343225ARDD0042829963311743
25ARDD003148148.455332725ARDD0042930947313927
25ARDD004011116543725ARDD00430311671129827
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD0043132414792025ARDD00461621072575555
25ARDD004323334334311925ARDD00462631074418062
25ARDD0043334842141752225ARDD00462631074418062
25ARDD00434354934426025ARDD00463641582368657
25ARDD004353662450346025ARDD0046465481326253
25ARDD0043637127451583825ARDD004656691276567
25ARDD0043738138322892625ARDD00466671626443821
25ARDD004383910716011725ARDD00467683079139636
25ARDD00439403322158625ARDD0046869261106723
25ARDD004404195172438125ARDD00469709118019
25ARDD00441427267052525ARDD00470713111123
25ARDD00442436815686425ARDD00471726125122
25ARDD004434427247983925ARDD00472733117723
25ARDD0044445104121245725ARDD00473749125419
25ARDD0044546202035446625ARDD00474759612884
25ARDD004464726952259244425ARDD004757630
25ARDD00447482434327203225ARDD004767723144724
25ARDD0044849173108846725ARDD00477786126426
25ARDD00449501212369986025ARDD004787910125922
25ARDD0045051213546704125ARDD00479805116327
25ARDD0045152623332214925ARDD004808130147922
25ARDD0045253257336523625ARDD0048182714222
25ARDD0045354240321994525ARDD0048283615029
25ARDD0045455161526576325ARDD004838422159624
25ARDD0045556338241563125ARDD00484857112732
25ARDD004565775127573325ARDD004858614172021
25ARDD00457581002113345225ARDD004868777022
25ARDD004585921424815125ARDD00487885114928
25ARDD0045960284426455125ARDD004888954246527
25ARDD0046061223338767325ARDD004899055259130
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD0049091816482725ARDD00412012112142326
25ARDD00491922015023725ARDD004121122537328
25ARDD004929311110434325ARDD0041221235141743
25ARDD00493941029613225ARDD004123124272134327
25ARDD00494952017682825ARDD00412412533247328
25ARDD0049596615128725ARDD0041251266153623
25ARDD004969772925ARDD004126127520630
25ARDD00497981624282525ARDD0041271287159419
25ARDD00498992214632425ARDD00412812956936
25ARDD0049910054482325ARDD0041291305194528
25ARDD004100101613552525ARDD0041301315144818
25ARDD0041011022115532525ARDD00413113223221928
25ARDD004102103814972625ARDD00413213343252725
25ARDD004103104414602625ARDD00413313432233730
25ARDD0041041055324752325ARDD00413413521163522
25ARDD0041051062213482225ARDD0041351366113528
25ARDD0041061073113442325ARDD00413613712148223
25ARDD0041071082114102625ARDD00413713820124230
25ARDD004108109913873325ARDD00413813917158926
25ARDD00410911010328332825ARDD00413914011133531
25ARDD0041101112214972625ARDD0041401415166426
25ARDD0041111128124762525ARDD00414114214135925
25ARDD0041121132413594125ARDD00414214312131320
25ARDD00411311423112822125ARDD00414314458630
25ARDD0041141151511262325ARDD004144145557824
25ARDD00411511619333072425ARDD0041451465124730
25ARDD00411611774483282725ARDD0041461475157230
25ARDD0041171181513922725ARDD00414714812154222
25ARDD004118119914222325ARDD0041481495119974
25ARDD004119120611992725ARDD004149150527
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD0041501512725032925ARDD0051819575932
25ARDD00415115255902225ARDD005192019199236
25ARDD00415215351472625ARDD00520214161831
25ARDD00415315463792525ARDD005212232179931
25ARDD004154155313562525ARDD005222316175331
25ARDD004155156513552125ARDD00523249167132
25ARDD00415615751742125ARDD00524258157929
25ARDD00415715851112425ARDD00525265161329
25ARDD00415815953122125ARDD005262722159027
25ARDD00415916051283025ARDD005272851125720
25ARDD00416016115736282625ARDD00528294610219
25ARDD0041611628144210325ARDD005293057120
25ARDD005012423152325ARDD0053031510119
25ARDD0051211432562425ARDD005313217120
25ARDD005233923792725ARDD0053233455880
25ARDD005341513232325ARDD0053334120
25ARDD005453241832225ARDD0053435419427
25ARDD0055665313125ARDD005353615146423
25ARDD0056757433325ARDD005363716231335
25ARDD00578313722825ARDD0053738591113131
25ARDD0058965593125ARDD005383951453732
25ARDD00591068523625ARDD0053940471182148
25ARDD005101152672325ARDD0054041221239346
25ARDD0051112416773125ARDD005414291207455
25ARDD005121364172925ARDD005424351267851
25ARDD0051314416423125ARDD005434454239051
25ARDD0051415718133325ARDD0054445952335568
25ARDD005151654172625ARDD0054546301484468
25ARDD00516171216393025ARDD0054647232372053
25ARDD005171854892825ARDD0054748713352944
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD0054849145124624625ARDD0057879415344472
25ARDD005495026221775625ARDD00579801508872
25ARDD005505146128694625ARDD005808171412522
25ARDD005515213123354125ARDD005818251216339
25ARDD00552534117765025ARDD00582839512198235
25ARDD005535425125685725ARDD0058384853106350
25ARDD005545522123235825ARDD005848513033268839
25ARDD00555566134323525ARDD005858634603211650
25ARDD00556574513653525ARDD00586871853270261
25ARDD0055758111493625ARDD00587882603419646
25ARDD005585913513583725ARDD00588892079255633
25ARDD0055960116234425ARDD00589908611121273
25ARDD00560615519303525ARDD00590911134612755
25ARDD0056162514094525ARDD00591921743212648
25ARDD0056263521884125ARDD00592933872419166
25ARDD0056364418373825ARDD005939454159455
25ARDD0056465519774625ARDD0059495751795155
25ARDD0056566128173825ARDD0059596492360468
25ARDD00566673519803925ARDD00596973584115438
25ARDD0056768518024025ARDD0059798241123036
25ARDD0056869218286525ARDD00598992416420
25ARDD00569705141074025ARDD0059910012225518
25ARDD005707120118154225ARDD005100101572
25ARDD00571725221215925ARDD005101102779
25ARDD00572736128135125ARDD005102103687
25ARDD00573747131025025ARDD0051031044187
25ARDD00574757531672625ARDD00510410512179
25ARDD005757614307725ARDD0051051067174
25ARDD005767722172224225ARDD00510610710169
25ARDD00577789117265625ARDD0051071085166
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD005108109417525ARDD00513813966420
25ARDD0051091101117125ARDD005139140415619
25ARDD005110111716725ARDD0051401419187
25ARDD005111112316825ARDD0051411425174
25ARDD005112113416825ARDD0051421436176
25ARDD0051131142129925ARDD005143144676
25ARDD005114115317625ARDD0051441454177
25ARDD00511511657225ARDD005145146680
25ARDD00511611713239625ARDD005146147417720
25ARDD0051171186129825ARDD005147148577
25ARDD00511811942458725ARDD0051481494179
25ARDD00511912010028725ARDD00514915068820
25ARDD00512012110531511825ARDD005150151678
25ARDD0051211229229225ARDD0051511524180
25ARDD0051221231628825ARDD005152153579
25ARDD00512312468925ARDD0051531544178
25ARDD00512412568925ARDD005154155680
25ARDD005125126711602125ARDD005155156571241138
25ARDD005126127618325ARDD005156157521022
25ARDD005127128718525ARDD0051571586184635
25ARDD005128129918325ARDD005158159524623
25ARDD0051291302117825ARDD005159160651029
25ARDD005130131918425ARDD00516016161118841
25ARDD00513113271742025ARDD00516116213160331
25ARDD005132133919025ARDD005162163688
25ARDD005133134918225ARDD00516316415166931
25ARDD00513413568125ARDD0051641656112441
25ARDD005135136517825ARDD005165166627324
25ARDD00513613791771925ARDD00516616769280933
25ARDD005137138619225ARDD00516716816177733
Hole IDFromToAs_ppmAs errorCr_ppmCr ErrorHole IDFromToAs_ppmAs errorCr_ppmCr Error
25ARDD005168169714492725ARDD005198199615424
25ARDD0051691701313492525ARDD0051992006170531
25ARDD0051701717125823025ARDD005200201550528
25ARDD0051711721611972225ARDD005201202532825
25ARDD0051721733826553025ARDD0052022039141027
25ARDD00517317451802225ARDD0052032047154529
25ARDD005174175412002225ARDD00520420531269431
25ARDD0051751762013012425ARDD0052052066142626
25ARDD00517617753312625ARDD005206207516322
25ARDD0051771781415202925ARDD0052072087178834
25ARDD0051781795625993025ARDD005208209545127
25ARDD0051791808929393625ARDD0052092104183831
25ARDD00518018120335473025ARDD005210211629725
25ARDD005181182612192325ARDD005211212522624
25ARDD005182183514292725ARDD0052122134153027
25ARDD00518318451732225ARDD0052132146176732
25ARDD00518418551762225ARDD005214215559329
25ARDD0051851865982025ARDD00521521628291936
25ARDD005186187412762425ARDD005216217570530
25ARDD005187188416063125ARDD0052172186140926
25ARDD00518818966573125ARDD0052182196156929
25ARDD0051891902523912625ARDD0052192206142027
25ARDD005190191649229
25ARDD0051911925136527
25ARDD0051921939178833
25ARDD005193194653230
25ARDD0051941955160830
25ARDD005195196568231
25ARDD005196197531725
25ARDD00519719859620
  Table 2: pXRF readings showing As and Cr values from Titan Drilling (25ARDD003-25ARDD005) - pending laboratory assays. JORC Code, 2012 Edition - Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)
CriteriaJORC Code explanationCommentary
Sampling techniques· Nature and quality of sampling (eg cut channels, random chips, 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.
· Portable XRF has been used on downhole 1m intervals by analyzing drill core
· Portable XRF is calibrated daily along with CRM checks during analysis
· Portable XRF results were used for geochemical rather than mineralization purposes, with a focus on As an indicator for potential Au mineralization. Highest As value recorded was 3460ppm. Cr was used as a guide for lithological constraints identifying potential ultramafic units, the highest value recorded was 14175ppm.
· Half core drill samples were bagged and dispatched to the ALS Global Perth Laboratory for analysis.
· These were exploratory drill holes with the primary aim to identify or not mineralization associated with surface anomalies, electro magnetic conductor plates, and extension to the existing Carlow Castle deposit.
· Selective sampling was conducted on the 25ARDD001, 25ARDD002 and 25ARDD005 holes targeting mineralized zones as determined by the onsite geology team.
· 25ARDD003-004 have been fully sampled.
Drilling techniques· Drill type (eg core, reverse circulation, open-hole hammer, 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 type, whether core is oriented and if so, by what method, etc).· Diamond drill hole 25ARDD001 was drilled at 700 dip and 00 azimuth with a pre-collar HQ core from surface to 50m and NQ to end of hole at 714.6m
· Diamond drill hole 25ARDD002 was drilled at 600 dip and 3400 azimuth with a pre collar HQ core from surface to 24.3m and NQ to end of hole at 527.4m
· Diamond drill hole 25ARDD003 was drilled at 500 dip and 0450 azimuth with a pre collar HQ core from surface to 99.9m and NQ to end of hole at 148.4m.
· Diamond drill hole 25ARDD004 was drilled at 650 dip and 0450 azimuth and was drilled HQ to end of hole at 162,5m
· Diamond drill hole 25ARDD005 was drilled at 700 dip and 0450 azimuth and was drilled HQ from surface to end of hole at 237.3m
· A Sandvik DE-710 track mounted multi-purpose drill rig operated by West Core was used.
Drill sample recovery· Method of recording and assessing core and chip sample recoveries and 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.
· Core recovery has been measured from drillers run blocks with % of the sample intervals recovered.
· Diamond core has been reconstructed into continuous runs with depths checked against the depths given on the drillers core blocks.
· The geologist visually assessed drill core recoveries and these were recorded and were generally good except in the oxidation zones.
· The core was recovered using a standard core barrel and the core was placed into core trays,
· Only selected intervals of core were selected for analysis
Logging· Whether core and chip samples have been geologically and 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.
· All five holes were geologically logged for lithology, weathering and other features. The level of geological details is commensurate with the nature and limitations of this exploratory drilling technique.
· The drilling was supervised by a consultant of Artemis Resources and using experienced geological contractors provided by APEX Geoscience.
· These are isolated exploratory drill holes which renders the assay results unsuitable for Resource Estimation. Although data acquired from this program would compliment future drilling and could assist with Resource Estimation.
· Data relating to the geological observations and the sampling intervals was entered in a database and the core is stored at the core shed located at Karratha.
· Selected samples will be sent for petrographic analysis at a later date to confirm lithological descriptions.
Sub-sampling techniques and sample preparation· If core, whether cut or sawn and whether quarter, half or all 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 in situ 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.
· The mineralized sections of HQ and NQ core were sawn in half, with half core samples sent for analysis.
· Where core loss was encountered in potentially mineralized zones samplers were composited, this applies to 25ARDD003-25ARDD005.
· The samples were then sent to ALS Global Laboratory in Perth for sample preparation and analysis using MEMS61 and 50g fire assay techniques.
· The sample sizes were appropriate for the style of mineralisation being investigated.
Quality of assay data and laboratory tests· The nature, quality and appropriateness of the assaying and 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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.
· Laboratory Certified Reference Materials and/or in-house controls, blanks, splits and replicates are analysed with each batch of samples by the laboratory. These quality control results are reported along with the sample values in their final report. Selected samples are also re-analysed to confirm anomalous results.
· Assay results from the samples taken are not yet available.
··
Verification of sampling and assaying· The verification of significant intersections by either 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.
· Drill collar data, sample information, logging data and assay results are yet to be completed, compiled, and validated by a separate person to the person conducting the logging and sampling.
· Data is stored electronically in a database managed by Artemis Resources.
Location of data points· Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.
· Specification of the grid system used.
· Quality and adequacy of topographic control.
· A hand held DGPS will be used to record the collar location and RL of the drill hole.
· Down hole orientation surveys were completed on the drill hole at approximately 30m intervals and a final continuous survey once each hole had been completed.
· The grid system used is GDA94, MGA zone 50.
Data spacing and distribution· Data spacing for reporting of Exploration Results.
· 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.
· The samples have been taken from isolated drill holes which were drilled to test and identify the source of a strong electro magnetic conductor (25ARDD001), high grade extensional plunge to the East of Carlow Castle deposit (25ARDD002) and potential extent of mineralization at Titan based on high grade surface samples (25ARDD003-25ARDD005)
Orientation of data in relation to geological structure· Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.
· 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.
· The regional stratigraphy and known mineralization trends at Carlow have an East-West strike and dip steeply (600-700), regional stratigraphy has a steep dip 700 to the south.
· Sampling bias is not considered an issue with respect to the core sampling of these exploratory drill holes. The relationship of lithology within both drill holes to the regional geological trends in subject to ongoing investigation and is not reported.
· The true orientation of mineralized bodies at Carlow are known, however, this is not the case at Titan, so an assessment of the effect of drill orientation on sample bias can be made if further drilling is undertaken.
Sample security· The measures taken to ensure sample security.· All drill samples collected from this drill hole were freighted by Artemis Resources directly to the ALS Global laboratory in Perth for analysis.
· Sample security was not considered a significant risk to the project. Only employees or contractors of Artemis Resources were involved in the collection, short term storage (in a remote area), and delivery of samples.
Audits or reviews· The results of any audits or reviews of sampling techniques and data.· No formal audits or reviews have been conducted on sampling technique and data to date.
Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)
CriteriaJORC Code explanationCommentary
Mineral tenement and land tenure status· Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.
· 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 drill holes are part of a larger program being entirely conducted on E47/1797 held 100% by Artemis Resources.
· The tenement lies within the Ngarluma Native Title claim, with Heritage clearance having been completed. There is no heritage issues associated with the drill sites.
· The Tenement is in good standing with no known impediments.
Exploration done by other parties· Acknowledgment and appraisal of exploration by other parties.For previous exploration history please refer to Artemis announcement 13th October 2022.
Geology· Deposit type, geological setting and style of mineralisation.· For previous description of geology for Carlow Castle mineral resource, refer to Artemis announcement 13th October 2022.
Drill hole Information· A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:
oeasting and northing of the drill hole collar
oelevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar
odip and azimuth of the hole
odown hole length and interception depth
ohole 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.
· The drill hole collar locations are shown in diagrams in the body of the release. Drilling was conducted at the natural land surface. Elevation of the drill hole to be determined from a handheld DGPS instrument with an accuracy of +/- 0.1m.
· Diamond drill hole 25ARDD001 was drilled at 700 dip and 00 azimuth, depth hole is 714.6m
· Diamond drill hole 25ARDD002 was drilled at 600 dip and 3400 azimuth, depth of hole is 527.4m
· Diamond drill hole 25ARDD003 was drilled at 500 dip and 0450 azimuth depth of hole is 148.4m.
· Diamond drill hole 25ARDD004 was drilled at 650 dip and 0450 azimuth depth of hole is 162,5m
· Diamond drill hole 25ARDD005 was drilled at 700 dip and 0450 depth of hole is 237.3m
Data aggregation methods· In reporting Exploration Results, weighting averaging techniques, 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.
· No data aggregation was used in this report.
Relationship between mineralisation widths and intercept lengths· These relationships are particularly important in the reporting 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 (eg 'down hole length, true width not known').
· The holes drilled were exploratory in nature and the relationship between the reported minerals and the angle of the drill holes is not known precisely. No mineralisation intercepts have been reported in this document.
Diagrams· Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include but not be limited to a plan view of drill hole collar locations and appropriate sectional views.· The drilling has been tabulated into a generalised section.
Balanced reporting· Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.· No assay results have been received for any of the mineralised drill samples.
Other substantive exploration data· Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical 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.· The drill holes were designed to test a number of targets including an EM conductor plate, high grade mineralisation trends to the east of Carlow and extent to high grade surface rock chip samples.
Further work· The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).
· Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.
· On receipt of analytical results from ALS Global, Artemis will evaluate the results in combination with geological and structural data to determine whether follow up drilling is required at the three targets described in this announcement.
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