REG - Artemis Resources Ld - Exploration update and planned activities, March
28/01/2025 07:00
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RNS Number : 8282U Artemis Resources Limited 28 January 2025
28 January 2025
PILBARA GOLD EXPLORATION UPDATE AND
PLANNED ACTIVITIES - mARCH QUARTER
_______________________________________________________________________________
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to provide an outline of a substantial drilling program planned to
test high priority gold exploration targets on the 100% owned Carlow Tenement
within the Company's extensive holdings in the North Pilbara gold province of
Western Australia.
A diamond and Reverse Circulation ("RC") drilling program is expected to
commence in early February to test several compelling targets within a 4km
long northwest trending zone centred around the Company's 704Koz AuEq Carlow
Mineral Resource(1) which includes 374Koz gold, 64,000t copper and remains
open. Despite proximity to Carlow, the targets planned to be drilled during
the March Quarter are previously untested.
Summary of Planned Activities - March Quarter 2025
· The first hole will test the large Marillion Electro-magnetic
("EM") conductor 500m east of the Carlow resource, near the base of the
Andover Intrusion
· Diamond drilling will then test the potential for significant
extensions to the Carlow resource, down plunge from previous high-grade gold
intersections
· RC drilling is then planned across the Titan Prospect 2km
northwest of Carlow, as an initial test of widespread high-grade gold
occurrences at surface
· Recent assays from outcrops of chert and quartz/ironstone veins
at Titan include 51.8g/t Au and 41.4g/t Au, in line with results announced
during 2024
· Surface gold occurrences at Titan may be associated with a large
gravity-low feature surrounded by chert outcrops, interpreted major faults and
thrusts
· Conceptual mining study planned to review the 2022 Carlow
Inferred Mineral Resource(1) including 7.25Mt @ 1.3g/t gold for 296,000oz Au
in an optimised pit
· Artemis is also evaluating other quality assets and recently
applied for an EL to cover an interpreted intrusion with potential for IOCG
Cu/Au mineralisation
· Following the recent $4M placement, the Company is now well
funded to drill priority targets around Carlow and progress other promising
gold targets
Note 1: Refer to Artemis ASX announcement on 13 October 2022
Recently appointed Managing Director Julian Hanna(2) commented: 'As a result
of the excellent work completed by the Karratha exploration team during 2024
and following the announced capital raising in December, Artemis is now in a
strong position to undertake drilling of some exciting targets at the Karratha
Gold Project.
Exploration in the following months will be focussed on the Carlow Tenement
which hosts a significant gold - copper resource at Carlow and covers a wide
range of exploration targets within a wide, prospective corridor with minimal
previous drilling.
I look forward to working closely with the very experienced and committed team
at Artemis and updating shareholders with results from the drilling in due
course.'
Note 2: Refer to Artemis ASX announcement on 8 January 2025
Figure 1. Artemis tenements in Pilbara region of Western Australia with Carlow
Tenement hatched
Priority Drill Targets and other Activities - March Quarter 2025
Marillion Electro-Magnetic Anomaly(3)
Marillion is a large, highly conductive electro-magnetic (FLTEM) anomaly
modelled by the Company's consulting geophysicist as a 500m long, c.11,000
siemens conductor with the top at approximately 350m vertical depth (refer to
Figure 2). Marillion is undrilled, and the source of the conductive anomaly is
unknown.
Drilling is planned to start in early February with the first drill hole
designed to test the centre of the Marillion EM anomaly for possible sulphide
hosted mineralisation.
Marillion may potentially represent an extension of the Carlow gold/copper
deposit offset >500m by a fault or represent a possible sulphide
accumulation at the interpreted base of the Andover Intrusion which is mapped
in outcrop near Marillion.
Note 3: Refer to Artemis ASX announcement on 14 November 2022
Carlow Mineral Resource(4) - Potential Extensions
The Carlow deposit comprises a total Inferred Mineral Resource of 8.74Mt @ 1.3
g/t Au (374,000oz gold), 0.73% Cu (64,000t copper) and 0.09% Co (8,000t
cobalt)
The majority of the Inferred Mineral Resource at Carlow occurs in West Zone
(within 3-4 stacked quartz/sulphide lodes) and East Zone (within 1-2
quartz/sulphide lodes).
An internal review of all drill holes at Carlow concluded the eastern end of
the East Zone is probably truncated by a fault which extends from surface to
approximately 200m depth. From 200m to 500m depth, high-grade gold zones
within the East Zone plunge east and may extend beyond the current limit of
drilling (refer to Figure 2).
Two widely spaced (>100m spaced) diamond drill holes are planned in the
March quarter (Phase 1) to scope out potential for significant extensions to
the Carlow resource down plunge from previous high-grade gold intersections.
Depending on results, additional holes are planned to test for further
extensions to the deposit.
Figure 2. Carlow resource long section showing high grade gold intersections
in the East zone and proposed diamond drill holes. Marillion EM conductor is
projected south onto the Carlow section
Note 4: Refer to Artemis ASX announcement on 13 October 2022
Carlow Resource - conceptual open pit study(4)
A conceptual open pit study is planned to be carried out by an independent
consulting group based on the existing Carlow Mineral Resource estimate
prepared by consultants Snowden Optiro and announced on 13 October 2022. The
total Mineral Resource at Carlow includes an Inferred open pit resource of
7.25Mt @ 1.3g/t gold for 296,000oz Au contained within an optimised pit shell.
Note 4: Refer to Artemis ASX announcement on 13 October 2022
Titan Prospect(5)
Titan is located 2km northwest of the Carlow resource and has been the subject
of several surface rock chip sampling programs during 2024. The surface
sampling programs have delivered very high-grade gold assay results from
selected samples of quartz/ironstone veins and gossanous chert outcrops in
several areas at Titan (Refer Figures 3, 4 and 5). There is no known
drilling of the surface gold occurrences.
Recent assay results received from additional surface rock chip samples at
Titan include: 51.8g/t Au (sample 24AR28-002); and 41.4 g/t Au (sample
24AR28-048) with nine other samples assaying >4g/t Au. These results are
listed in Table 1 and plotted on Figure 4. The recent assay results are
broadly similar to results from surface rock chip samples collected elsewhere
at Titan which were announced during 2024.
Detailed geological and structural mapping of the Carlow Tenement and a
re-interpretation of magnetic and gravity data was completed by two
independent consultants in late 2024. These studies combined with results
from rock chip samples and soil geochemical surveys are helping understand the
potential of the Titan area.
The known surface gold occurrences appear to be associated with a 2km long
gravity-low feature in the centre of the Carlow Tenement (refer Figures 3 and
4). The source of the gravity-low is unknown. Chert ridges and
quartz/ironstone veins around the periphery of the gravity-low (refer to
Figures 4 and 5) are interpreted to be related to northeast trending shear
zones, regional thrusts and northwest cross cutting faults.
An initial program of shallow RC drilling at Titan is planned to start in the
March quarter subject to access approvals over some areas. The RC program is
planned to test down dip from the surface gold occurrences, test the central
gravity-low feature and provide geological and geochemical data to support
deeper drilling programs.
Note 5: Refer to list of Artemis ASX announcements at end of this announcement
Figure 3. Gravity image of Carlow Tenement showing gravity-low feature at
Titan with selected gold assays from surface rock chip samples. Shows
outline of the Carlow resource and Marillion EM target within an interpreted
4km long northwest trending prospective zone, in red dash outline.
Figure 4. Satellite image of the Titan Prospect showing location of high-grade
surface samples from quartz/ironstone veins and gossanous chert outcrops
around the interpreted gravity-low feature.
Figure 5. Titan Prospect - outcrop of brecciated and banded chert (approx.
5m wide) with thin stockwork iron oxide veining. Sample 24AR28-002 (above)
from this outcrop returned 51.8g/t Au.
Table 1. Rock chip assays (>0.5g/t Au) from recent sampling at outcrops and
historic pits at Titan
Chapman, Carlow South, Europa Prospects
As part of the recent rock chip sampling program completed on the Carlow
Tenement, a small number of selected samples from outcropping quartz/ironstone
veins were collected from the Chapman, Carlow South and Europa Prospects 2km
south and west of the Carlow Resource. Several of these samples reported
high grade gold assays (refer to Table 2). Interpretation of these results
is in progress.
Table 2: Rock chip assays (>0.4g/t Au) from recent sampling at outcrops at
other prospects within Carlow Tenement to the south and west of Carlow
Resource
Lulu Creek Prospect - RC Drilling
The Lulu Creek Prospect is located 20km west of Carlow, on tenement E
47/1746.
In late 2020 Artemis completed a shallow RC drilling program at Lulu Creek and
intersected zones of anomalous gold mineralisation associated with
disseminated sulphides at shallow depth. The best intersections included 1m
@ 4.89g/t Au and 13.7g/t Ag from 24m depth and 2m @ 1.62g/t Au from 34m
depth.
(Note 5: Refer to Artemis ASX announcements on 18 September 2020 and 23
October 2024)
On 23 October 2024 Artemis announced commencement of an EIS co-funded RC
drilling program at Lulu Creek to test potential for intrusion related gold
deposits which could be related to IP anomalies interpreted below the area of
shallow gold
mineralisation intersected in 2020. 5 RC drill holes were completed in
November 2024 and assay results from this program have now been received.
An initial appraisal of the assay results from the 5 RC holes shows the
majority are less than 0.4g/t gold with two separate 1m intervals reporting
high-grade gold assays (>3g/t Au) - Refer to Table 3. Results from the RC
drilling completed in November 2024 are broadly comparable to results from the
2020 shallow RC drilling program.
Minor disseminated sulphide was reported in the 2024 RC holes and it is not
yet clear if the source of the IP anomalies has been explained by the recent
drilling.
Interpretation of the results of the recent RC drilling is continuing to
determine if further drilling is warranted to test the source of the IP
anomalies at Lulu Creek.
Figure 6. Lulu Creek Prospect showing IP anomalies projected to surface and
2024 RC hole collars
Table 3: Lulu Creek Prospect - list of assay results from 1m intervals
>0.16g/t gold from 5 RC holes completed November 2024. Further drilling
parameters included in Appendix 1 of announcement
New Project Opportunities
While the Karratha Gold Project is expected to continue as Artemis's core
asset, the Company strategy includes identifying other high quality
exploration targets considered to have potential for discovery of major
mineral deposits. Priorities are for targets which can be acquired and
tested at relatively low cost.
As part of this strategy, Artemis subsidiary (KML No 2 Pty Ltd) has applied
for a 340km(2) exploration licence to cover a large, interpreted intrusion
("Cassowary Intrusion") below the Eucla Basin sediments, 440km east of
Kalgoorlie.
The Cassowary Intrusion occurs in a rare geological setting, being located on
the margin of a wide, >400km long northeast trending crustal boundary
(Madura West Crustal Boundary) where the surrounding geological formations are
interpreted to be disrupted for kilometres by the intrusion. There is no
known drilling at Cassowary.
Once the tenement is granted, exploration will test the potential for IOCG
type copper/gold mineralisation which may be associated with the intrusion.
A high resolution magnetic and gravity survey will probably be used to assist
drill targeting.
The Madura West Crustal Boundary has attracted major companies: BHP Nickel
West previously conducted exploration for nickel, global copper producer Teck
(Australia) has applied for 7 exploration licences south of Cassowary and
niobium company WA1 has applied for 2 exploration licences immediately south
of Cassowary to explore for IOCG type copper/gold deposits. (Refer WA1
website).
Figure 7. Magnetic image with outline of Artemis exploration licence
application (E69/4266 - yellow) covering interpreted Cassowary Intrusion.
Madura West crustal boundary in black. Source: GSWA
Artemis ASX announcements relating to surface rock chip results 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
This announcement was approved for release by the Board. For further
information
Artemis Resources Ltd info@artemisresources.com.au (mailto:info@artemisresources.com.au)
Guy Robertson, Chairman
Julian Hanna, Managing Director
Zeus (Nomad & Broker)
Antonio Bossi / James Bavister / Gabriella Zwarts
Tel: +44 20 3829 5000
info@artemisresources.com.au (mailto:info@artemisresources.com.au)
Tel: +44 20 3829 5000
Competent Person Statement
The information in this report that relates to Exploration Results was
prepared/compiled by Mr Adrian Hell BSc (Hons), a Competent Person who is a
member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr
Hell is a technical consultant to Artemis Resources Ltd. Mr Hell has
sufficient experience that is relevant to the style of mineralisation and type
of deposit under consideration and to the activity being undertaken to qualify
as a Competent Person as defined in the 2012 Edition of the 'Australasian Code
for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr
Hell consents to the inclusion in this report of the matters based on his
information in the form and context in which it appears.
No New Information
To the extent that this announcement contains references to prior exploration
results and Mineral Resource Estimates for the Carlow Gold/Copper Project
which have been cross referenced to previous market announcements made by the
Company, unless explicitly stated, no new information is contained. The
Company confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcements and, in the case of estimates of Mineral Resources, that all
material assumptions and technical parameters underpinning the estimates in
the relevant market announcements continue to apply and have not materially
changed.
About Artemis Resources
Artemis Resources (ASX/AIM:ARV) is a gold, copper and lithium focused
resources company with projects in the Pilbara region of Western Australia.
The Company's main projects include;
· Karratha Gold Project including the Carlow Castle gold/copper project
· 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's gold-copper discovery at Havieron and
42km from the Telfer gold mine)
· Artemis also owns the Radio Hill processing plant, located only 35km
from Karratha
In addition to exploring for gold, copper and lithium in the Pilbara region,
the Company's strategy includes building a portfolio of other high-quality
exploration assets which can be acquired and tested at relatively low cost and
have potential to add significant value
Appendix 1 JORC Table
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 RC Drilling
specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF · Reverse Circulation drilling (RC) at Lulu Creek was undertaken to
instruments, etc). These examples should not be taken as limiting the broad obtain samples that were laid out in one metre intervals.
meaning of sampling.
· Samples submitted for assay were either composites of 3, 4 and 5
· Include reference to measures taken to ensure sample representivity metre lengths, or single metre samples. Spacing determined based on presence
and the appropriate calibration of any measurement tools or systems used. of visible sulphide mineralisation
· Aspects of the determination of mineralisation that are Material to · Single meter samples are ~ 3kg samples obtained directly from the
the Public Report. secondary port of the cone splitter.
· In cases where 'industry standard' work has been done this would be · Composites were produced by representatively sampling each individual
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m drill spoil pile to be included in the composite.
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 · Sampling of the drill spoil for assay was undertaken by scoop method
is coarse gold that has inherent sampling problems. Unusual commodities or into numbered calico bags.
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information. Rock chip
· Samples referred to in this report are obtained from selected rock
chip samples collected by Artemis during field reconnaissance. Samples are
mainly collected from quartz iron oxide veins and chert outcrops.
· Samples are collected from outcrops, subcrop and float and from
around historical mullock heaps and workings.
· Rock chip sample weight is approximately 0.2kg to 5.3kg
· The rock chip samples of the veins and chert outcrops are irregularly
spaced which is considered appropriate for "regional-scale"
reconnaissance-level gold exploration.
· Rock chips samples are subject to bias and often unrepresentative for
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.
· Samples were dispatched to ALS Global Laboratories in Perth for
analysis.
· Analysis included:
- Au-AA26 - Au 50g FA AA finish
- ME-MS61 - 48 elements Ultra-Trace Four-Acid Digestion with ICP
MS and ICP-AES
- ME-OG62- default overlimit method triggered for Ag, Co, Cu, Zn -
Ore Grade Elements by Four Acid Digestion Using Conventional ICP-AES
Analysis;
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Drilling was completed using the RC method. A standard RC hammer bit
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or was used, with chip samples returned within the drill pipe and recovered
standard tube, depth of diamond tails, face-sampling bit or other type, through a cyclone.
whether core is oriented and if so, by what method, etc).
· Holes were drilled towards North at various dips and to varying
depths.
· All holes were surveyed using a North Seeking Gyro for downhole
surveys undertaken at 5 or 10m intervals.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · The geologist visually assessed and digitally recorded drill sample
results assessed. recoveries during the program. Recoveries were overall very good with 98% of
the sample intervals recovered >75%, discounting overburden
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Drill cyclone was cleaned regularly between holes if required to
minimise down hole or cross-hole contamination.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of · Samples were almost entirely dry, with little water encountered in
fine/coarse material. the drilling.
· No relationship between sample recovery and grade has been
recognised.
Logging · Whether core and chip samples have been geologically and RC Drilling
geotechnically logged to a level of detail to support appropriate Mineral
Resource estimation, mining studies and metallurgical studies. · All drill holes have been logged, using sieved rock chips from the
drill samples to industry best standards for lithology, alteration,
· Whether logging is qualitative or quantitative in nature. Core (or mineralisation using a specific set of logging codes to ensure consistency in
costean, channel, etc) photography. logging.
· The total length and percentage of the relevant intersections logged. · Logging has been quantitative in nature.
· The level of geological detail is commensurate with nature and
limitations of this exploratory drilling technique.
· The current drill-spacing is insufficient for Resource Estimation.
· All sampling data has been stored directly into an in-house developed
Access data management system.
· All drill holes were logged in full.
· All logging and sampling undertaken under the supervision of a
qualified geologist.
Rock chip
· Logging of rock chips are collected using Fulcrum App which has been
set up for project geology requirements. Data recorded includes GPS location,
lithology, mineralisation, alteration, structure. All data is captured using
field note pad - Samsung Active-3. The level of logging detail is sufficient
for exploration reconnaissance purposes.
· Alteration interpretation is preliminary and determined by field
observation and correlated using QGIS workflows. Further validation is
determined using multi-element analysis in IOGAS workflows
· Structural interpretation is preliminary based on limited field
structural recordings integrated with airborne magnetic and gravity
interpretations. This work remains ongoing.
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core RC Drilling
taken.
· RC drill spoil samples were collected by traversing each sample pile
· If non-core, whether riffled, tube sampled, rotary split, etc and systematically by scoop to obtain similar volumes of representative material
whether sampled wet or dry. for either a single metre interval or a composite interval of 3, 4 or 5m (3, 4
and 5drill spoil piles respectively). This is regarded as a fit for purpose
· For all sample types, the nature, quality and appropriateness of the sampling regime for the type of drilling and the current stage of exploration.
sample preparation technique.
· The drill samples were almost entirely dry, with very few moist
· Quality control procedures adopted for all sub-sampling stages to samples.
maximise representivity of samples.
· Where composite samples were taken, equal amounts of sample were
· Measures taken to ensure that the sampling is representative of the taken from each of the constituent sample piles.
insitu material collected, including for instance results for field
duplicate/second-half sampling. · Field duplicate sampling was also undertaken at an approximate ratio
of 1:25.
· Whether sample sizes are appropriate to the grain size of the
material being sampled. · The samples were then sent to ALS Laboratory for sample preparation
and analysis.
· The sample sizes are appropriate for the style of mineralisation
being investigated.
Rock chip
· No sub sampling of rock chip samples has been undertaken as part of
this program.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and RC Drilling
laboratory procedures used and whether the technique is considered partial or
total. · Samples were dispatched to ALS Global Laboratories in Perth for
analysis.
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Samples underwent High Grade Fire Assay fusion (50 g) - lead flux
model, reading times, calibrations factors applied and their derivation, etc. with Ag collector and Au amount determined by ALS method Au-AA26 and for
multi-element analysis a four-acid "near" total digest (HF-HNO3-HClO4) has
· Nature of quality control procedures adopted (eg standards, blanks, been undertaken on a 0.25 g sub-sample to quantitatively dissolve most
duplicates, external laboratory checks) and whether acceptable levels of geological materials, ALS method ME-MS61.
accuracy (ie lack of bias) and precision have been established.
· All finalised assay certificates signed off by qualified assayer.
· ALS Global Ltd is an ISO certified organisation with industry leading
quality protocols.
· The analytical technique used for gold is considered a total assay
technique.
· For multi-element analysis a four-acid digest has been undertaken on
a 0.25 g sub-sample to quantitatively dissolve most geological materials, with
analysis via ICP-MS + ICP-AES.
· Certified Reference Materials (CRM) including three different gold
grade standards and blanks have been submitted within the samples stream at a
frequency of approximately 1 every 35 samples.
· Field duplicates collected at a ration 1:25.
· Quality control data has been plotted on charts with control limits
at +/-1σ, +/- 2σ and +/-3σ standard deviations to monitor the level of
contamination, accuracy, and precision.
· QAQC report reviewing field duplicate imprecision (C.V.), field
duplicate bias, blanks and CRM actual deviation and lab pulp sizing compiled
immediately after laboratory results were received.
· All QAQC results have been reviewed by the ARV Competent Person who
considers the results to be within acceptable limits. Therefore, the assay
results presented are considered accurate and correct.
· ALS internal CRMs and duplicates have also reported prior to release
of finalised certificates.
Rock chip
· Rock chip samples were dispatched to ALS Global Laboratories in Perth
for analysis using their fire assay Au-AA26 & ME_MS61 (48 elements) for 49
elements in total.
· The laboratory reported the use of standards and blanks as part of
the analyses for QA/QC.
· No standards or blanks were submitted by the company.
Verification of sampling and assaying · The verification of significant intersections by either independent RC Drilling
or alternative company personnel.
· The significant intersections have been reviewed by other ARV and
· The use of twinned holes. contract geologists.
· Documentation of primary data, data entry procedures, data · No hole twinning has been undertaken
verification, data storage (physical and electronic) protocols.
· All sampling and analytical data has been stored directly into an
· Discuss any adjustment to assay data. in-house developed Access data management system,
· 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. No
adjustment to assay data has been undertaken. 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
Rock chip
· Rock chip sample and geological information is recorded in the field
with co-ordinates saved from in built tough book GPS and handheld GPS used in
the field.
· All rock chip samples were inspected and described by Artemis
geologists in the field.
· Field data is entered into Fulcrum App before being loaded into a
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. No
adjustment to assay data has been undertaken. 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
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar RC Drilling
and down-hole surveys), trenches, mine workings and other locations used in
Mineral Resource estimation. · Drill collar locations have been set with handheld GPS (+/-3 m) and
collar orientation using Reflex survey method,
· Specification of the grid system used.
· During drilling, down hole surveys at every 5 or 10m intervals have
· Quality and adequacy of topographic control. been completed using north seeking Gyro.
· All locations recorded using GDA94/MGA UTM Zone 50.
Rock chip
· Sample points were determined by in built tough book GPS and hand
held GPS which is considered appropriate for the reconnaissance nature of the
sampling.
· GPS error is approximately 1-5m for Easting & Northing and up to
10m for elevation (m)
· 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. RC Drilling
· Whether the data spacing and distribution is sufficient to establish · Drill holes are continuously sampled from top of hole to end of hole.
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied. · Sections are orientated 360 to the North and approximately 100 to
200m apart.
· Whether sample compositing has been applied.
· Drill holes are inclined approximately between -60 to -70 from the
horizontal.
· The spacing and distribution of the current drill holes is considered
sufficient for the testing of specific targets.
· This spacing for the holes reported is not adequate to result in a
resource estimate.
· Drill samples were taken at 1m intervals or composited over 5m
intervals prior to being submitted to the laboratory, honouring geological
contacts, state of oxidation-weathering and observable mineralisation.
Rock chip
· Not applicable due to the reconnaissance nature of the sampling.
· No attempt has been made to demonstrate geological or grade
continuity between sample points.
· No sample compositing is applied to samples.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of RC Drilling
possible structures and the extent to which this is known, considering the
deposit type. · The regional stratigraphy and the contained mineralisation comprising
the Lulu Creek prospect has an interpretive steep southerly dip, and drilling
· If the relationship between the drilling orientation and the orientated to the north with the dip of 60-70deg.
orientation of key mineralised structures is considered to have introduced a
sampling bias, this should be assessed and reported if material. · Holes orientation appropriate to test geophysical target.
· The true orientation of potential mineralised bodies in this area is
poorly understood.
Rock chip
· Samples were collected from predominantly outcropping in situ, &
lessor subcrop and vein float material around historical workings and mullock
heaps.
Sample security · The measures taken to ensure sample security. · Sample security is by way of chain of custody.
· All drill samples collected during the program are freighted by road
transport directly to the ALS laboratory in Perth for submission.
· Sample security was not considered a significant risk to the project.
Only employees of Artemis Resources and APEX Geoscience 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 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 RC program was entirely conducted on E47/1746.
agreements or material issues with third parties such as joint ventures,
partnerships, overriding royalties, native title interests, historical sites, · The reconnaissance surface sampling was entirely consucted on
wilderness or national park and environmental settings. tenement E47/1797.
· The security of the tenure held at the time of reporting along with · All Artemis Project tenures are 100% owned by Artemis Resources
any known impediments to obtaining a licence to operate in the area. subsidiary company KML No 2 Pty Ltd E47/1746 & E47/1797 with the exception
of E47/3719 which is subject to a GreenTech Metals/Artemis Resources 51%/49%
Joint Venture
· Tenements are 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 structurally controlled
shear zone mineralisation. Implications for intrusion related mineralised
systems is also considered.
Drill hole Information · A summary of all information material to the understanding of the · Drill hole collar locations are recorded in the body of the release.
exploration results including a tabulation of the following information for
all Material drill holes: · Drilling was conducted at the natural land surface. Elevations of
drill holes have been obtained by handheld GPS.
o easting and northing of the drill hole collar
· Holes were drilled at various dips and azimuths and depths. Hole
o elevation or RL (Reduced Level - elevation above sea level in metres) of the depths vary from 252m to 300m.
drill hole collar
· Laboratory analyses have been completed on all the samples collected
o dip and azimuth of the hole from the drilling to date.
Hole ID East North RL_m TN Azi Dip Depth
o down hole length and interception depth 24ARRC001 488903 7697000 29.0 1.41 -68.47 300
24ARRC002 488903 7697100 28.0 359.84 -70.54 276
o hole length. 24ARRC003 488903 7696876 29.0 0.49 -71.29 252
24ARRC004 489000 7696660 33.0 1.52 -60.58 300
· If the exclusion of this information is justified on the basis that 24ARRC005 489007 7696430 35.0 0.5 -61.35 300
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 RC Drilling
Exploration Results.
· The holes drilled were exploration in nature.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported. · Downhole lengths only reported, true width does not know.
· If it is not known and only the down hole lengths are reported, there Rock chips
should be a clear statement to this effect (eg 'down hole length, true width
not known'). · Not applicable as surface sampling is reconnaissance in nature.
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. · Refer to figures and tables in the body of the ASX release. While
significant results have been highlighted in accompanying Tables, the
reconnaissance nature of much of the RC may result in many holes containing no
significant intersections.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · This announcement discusses the findings of completed RC drilling
practicable, representative reporting of both low and high grades and/or activities, reconnaissance sampling and field mapping observations.
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
reported including (but not limited to): geological observations; geophysical
survey results; geochemical survey results; bulk samples - size and method of LuLu Prospect
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances. · Total of 126 drill holes for 3694m completed at Lulu prospect
best intercepts included
CWRC006 - 2m @ 1.62gpt Au from 34m;
CWRC011 - 1m @ 4.89gpt Au, 13.7gpt Ag from 24m;
CWRC011 - 1m @ 1.4gpt Au from 2m; and,
CWRC017 - 1m @ 1.15gpt Au from 9m
(refer to ASX release 18(th) September 2020 & 23(rd) October 2024)
Geochemical sampling and geological mapping were completed by Artemis
Resources and reported to the ASX on 5th November 2018.
· Validation & compilation of historic data is ongoing.
Further work · The nature and scale of planned further work (eg tests for lateral · Artemis Resources is currently reviewing all data sets to prioritise
extensions or depth extensions or large-scale step-out drilling). areas for further exploration.
· Diagrams clearly highlighting the areas of possible extensions, · Diamond and RC drilling to commence shortly at Carlow licence to test
including the main geological interpretations and future drilling areas, priority targets
provided this information is not commercially sensitive.
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.
· Not applicable as no data aggregation has been used.
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').
RC Drilling
· The holes drilled were exploration in nature.
· Downhole lengths only reported, true width does not know.
Rock chips
· Not applicable as surface sampling is reconnaissance in nature.
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.
· All the appropriate maps are provided in the body of this
announcement.
· Refer to figures and tables in the body of the ASX release. While
significant results have been highlighted in accompanying Tables, the
reconnaissance nature of much of the RC may result in many holes containing no
significant intersections.
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.
· This announcement discusses the findings of completed RC drilling
activities, reconnaissance sampling and field mapping observations.
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.
· Previous drilling completed by Artemis Resources
LuLu Prospect
· Total of 126 drill holes for 3694m completed at Lulu prospect
best intercepts included
CWRC006 - 2m @ 1.62gpt Au from 34m;
CWRC011 - 1m @ 4.89gpt Au, 13.7gpt Ag from 24m;
CWRC011 - 1m @ 1.4gpt Au from 2m; and,
CWRC017 - 1m @ 1.15gpt Au from 9m
(refer to ASX release 18(th) September 2020 & 23(rd) October 2024)
Geochemical sampling and geological mapping were completed by Artemis
Resources and reported to the ASX on 5th November 2018.
· Validation & compilation of historic data is ongoing.
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.
· Artemis Resources is currently reviewing all data sets to prioritise
areas for further exploration.
· Diamond and RC drilling to commence shortly at Carlow licence to test
priority targets
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