REG - Artemis Resources Ld - Multiple Pegmatites Discovered in West Pilbara

Artemis ResourcesAnnouncement

05/10/2023 08:00

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RNS Number : 8080O  Artemis Resources Limited  05 October 2023

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF
THE UK VERSION OF REGULATION (EU) NO 596/2014 WHICH FORMS PART OF UK LAW BY
VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED.  UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.

 

Artemis Resources Limited

 

("Artemis" or the "Company")

 

(ASX/AIM: ARV, FRA: ATY, US: ARTTF

 

Multiple Pegmatites Discovered on Artemis 100% Tenure in West Pilbara

OSBORNE JV DELIVERS FURTHER HIGH GRADE ROCK CHIPS WITH ASSAY RESULTS INCLUDING
2.4% & 1.5% Li(2)O

Artemis 100% Tenements Highlights:

·    Numerous swarms of pegmatites identified within and along the margins
of the Andover mafic intrusive complex within 100% Artemis tenement.

·    Six sets of pegmatites identified with elevated levels of
lithium-caesium-tantalum (LCT) and rubidium mineralisation, including four
pegmatite clusters considered potentially prospective for economic
mineralisation.

·    Over 90 outcrops of pegmatite identified to date, with the largest
pegmatite outcrop having a strike of 200 m and an average width of more than
45 m.

·    Exploration team continues to identify new pegmatites with samples
regularly being dispatched for laboratory analysis in Perth.

·    Twenty-one km(2) of prospective outcropping Andover Intrusive still
to be assessed for lithium pegmatite potential.

Osborne JV Highlights:

·    Osborne JV rock chip sampling results include 2.4% and 1.5% Li(2)O at
Osborne, Adrian and Wally zones(1)

Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to provide an update on its lithium pegmatite exploration program on
its 100% held West Pilbara tenure and Osborne JV project (GRE 51%: ARV 49%),
located within the Karratha region of Western Australia.

To date, exploration has focused on the central portion of exploration licence
E47/1746 (Figure 1), where historic soils(2) highlighted elevated lithium and
associated pathfinder elements around the margins of the Andover mafic
intrusive.

(1)Greentech Metals Ltd, ASX Announcement, 5 October 2023

(2)Artemis Resources Ltd, ASX Announcement, 18 July 2023

Figure 1. Artemis Resources Project Location Map

Artemis is pleased to report that recently completed reconnaissance
exploration using high-definition aerial photos, Geological Survey (GSWA)
mapping and in-house 400 m by 100 m geochemical soils data has resulted in the
identification of over 90 pegmatite outcrops and the collection of 230 rock
chip samples (Figures 2 and 3).

 

Figure 2. Pegmatite evaluation work area (yellow outline) in relation to
Artemis tenure.

Figure 3. Pegmatite outcrop with rock chip sample locations

 

 

The project area is within a newly identified lithium pegmatite field
strategically located within a regional pegmatite zone and between significant
discoveries. It is less than 20 km from neighbouring company Azure Minerals
(ASX: AZS) which recently recorded lithium intercepts from pegmatites within
the Andover mafic intrusive including 209.4 m at 1.42% Li(2)O(3) and adjacent
to recent discoveries by GreenTech Metals Ltd (ASX: GRE) within the Osborne
Joint Venture tenement E47/3719 (GRE 51%, ARV 49%) where mineralised pegmatite
assays up to 3.6% Li(2)O(4) have been reported.

(3)Azure Minerals Ltd, ASX Announcement, 4 August 2023

(4)Greentech Metals Ltd, ASX Announcement, 24 July 2023

 

Osborne JV

Mapping and recent sample results have now confirmed the discovery of new
occurrences of lithium bearing pegmatites and the identification of newly
named trends (Wally, Osborne and Adrian zones) which also correlate with a
number of Li-soil anomalies and regional structures Figures 4 and 5). These
newly discovered pegmatite zones are located approximately 5 km south-east
from the Kobe Li-pegmatite zone on the Osborne JV ground (GRE:51%,
ARV:49%)(1).

Figure 4. Lithium soil (historic) anomalies across Ruth Well Project. Newly
discovered lithium pegmatite zones highlighted including Kobe, Wally, Adrian
and Osborne(1).

Figure 5. Newly discovered Lithium pegmatite trends across the southern area
of the Osborne JV tenement with significant (>0.5%) Li(2)O rock chip assays
reported(1).

Artemis 100% Owned Project

Rock geochemistry of the sampled pegmatites has delineated six areas for
follow up (Figure 6) based on elevated lithium, caesium, tantalum and rubidium
assays and four of the anomalous zones having potential to host economic
lithium mineralisation (Figure 7).

 

 

Figure 6. LCT and Rb anomalous rock chip samples with priority areas for
follow up.

Figure 7. Most prospective pegmatites for follow up.

Details of the six priority targets are as follows:

·    Alpha Cluster - a 180 m long north-east trending outcrop of
pegmatites with elevated lithium between 162.1 to 387.5 ppm Li(2)O. The
pegmatites form along a contact with the Andover intrusive gabbro and
Roebourne Formation basalts which appears as a magnetic low in the regional
magnetics.

·    Bravo Cluster - comprises two small outcrops with a north-east strike
over 60 m with a combination of elevated Li(2)O ≥ 100 ppm, Ta(2)O(5) ≥ 50
ppm, Cs(2)O ≥ 30 ppm and Rb >1,000 ppm.

·    Charlie Cluster - an 80 m long north-east trending pegmatite outcrop
that forms part of a longer 260 m elevated tantalum trend containing Ta(2)O(5)
ranges between 50.1 ppm and 349.2 ppm.

·    Delta Cluster - a series of pegmatites trending north-north-west over
220 m. The cluster is elevated in caesium and rubidium. Geochemistry indicates
that the prospectivity of the pegmatites may increase towards the north.

·    The Echo Pegmatite - the largest pegmatite identified to date with a
north-east trend over 200 m and an average width more than 45 m. Currently the
northern portion of the pegmatite is elevated in caesium and rubidium, with
rock chip samples ranging between 39 - 121.3 ppm Cs(2)O and 1,360 - 4,220 ppm
Rb.

·    Foxtrot Cluster - pegmatite grouping containing elevated caesium and
rubidium with rock samples ranging between 34.4 - 35.3 ppm Cs(2)O and 1,010 -
1,685 ppm Rb. Additionally, the Foxtrot cluster contains one elevated lithium
sample of 102 ppm Li(2)O, which sits along the same magnetic low as the Alpha
cluster. These rock chip samples are separated by 450 m and will be
re-assessed for pegmatite development soon.

 

It is important to note that results displaying high readings of caesium and
rubidium are indicators or signals of fertile pegmatite zones and that lithium
could potentially be contained within these pegmatite zones. The variable
abundance of the pathfinder elements as well as lithium is due to the usually
zoned nature of the LCT elements within the pegmatite zones. The
identification of numerous pegmatites containing these pathfinder elements for
lithium pegmatites is very encouraging and highlights the potential for
discovery of lithium within these pegmatites as well as in other areas of the
tenement.

Technical Director and acting CEO Dr Simon Dominy said: "We are delighted to
confirm the identification of numerous swarms of pegmatites along the margins
of the Andover mafic intrusive complex within our 100% owned ground. This
further solidifies our position in the rapidly emerging lithium province in
the West Pilbara and we have a clear focus on moving quickly to unlock the
potential of our tenure.

From a technical perspective, our understanding of the pegmatites and their
chemical zonation is increasing. As data from rock chip sample analysis
builds, the Artemis technical team are interpreting metal zonation and
fractionation patterns within the pegmatite clusters which the Company will be
using for infill sampling and focussed reconnaissance. We look forward to
reporting further positive updates on our progress in the near-term."

 

Figure 8: Artemis geologist inspecting a sample from a pegmatite outcrop

 

Next Steps

The exploration field team will be modifying its exploration approach in the
coming weeks as it begins to revisit priority pegmatites that require further
assessment as well as maintaining the current reconnaissance work to identify
new pegmatites. It is anticipated that processing and interpreting of the
company's Worldview Satellite hyperspectral data will be completed in October,
which will further enhance the company's targeting abilities.

 

This announcement is approved for release by the Board.

For Further information contact:

 Artemis Resources Limited

 Guy Robertson                                       via Camarco
 Dr Simon Dominy / Technical Director                info@artemisresources.com.au (mailto:info@artemisresources.com.au)

 WH Ireland Limited (Nominated Adviser and Broker)
 Antonio Bossi / James Bavister / Isaac Hooper       Tel: +44 20 7220 1666

 Camarco (Financial PR)
 Gordon Poole / Emily Hall / Rebecca Waterworth      Email: artemis@camarco.co.uk (mailto:artemis@camarco.co.uk)

About Artemis Resources

Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a Perth-based
exploration and development company, led by an experienced team that has a
singular focus on delivering shareholder value from its Pilbara projects - the
Greater Carlow project in the West Pilbara and the Paterson Central
exploration project in the East Pilbara.

For more information, please visit www.artemisresources.com.au
(http://www.artemisresources.com.au)

Competent Person's Statement

The information in this report that relates to Artemis Resources Ltd
exploration results was prepared by Mr Luke Meter, a Competent Person who is a
Member of the Australasian Institute of Geoscientists (MAIG) and Australasian
Institute of Mining and Metallurgy (MAusIMM). Mr Meter is employed by Artemis
Resources as Exploration Manager. Mr Meter 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 Meter consents
to the inclusion in this report of the matters based on his information in the
form and context in which it appears.

 

The information in this report that relates to Artemis Resources Ltd
exploration results was prepared by Dr Simon Dominy, a Competent Person who is
a Fellow of the Australasian Institute of Geoscientists (FAIG RPGeo) and
Australasian Institute of Mining and Metallurgy (FAusIMM CPGeo). Dr Dominy is
employed by Artemis Resources as Technical Director and holds Options in the
Company. Dr Dominy 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". Dr Dominy consents to the inclusion in
this report of the matters based on his information in the form and context in
which it appears.

 

The information in this report that relates to GreenTech Metals Ltd
exploration results was prepared by Mr Thomas Reddicliffe, a Competent Person
who is a Fellow of the Australasian Institute of Mining and Metallurgy
(MAusIMM). Mr Reddicliffe is employed by GreenTech Metals Ltd as Executive
Director. Mr Reddicliffe 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 Reddicliffe consents to the inclusion
in this report of the matters based on his information in the form and context
in which it appears.

 

Related ASX Announcements

·     18/07/2023            Addendum to Announcement Lithium
Bearing Pegmatites identified at West

                                   Pilbara
Joint Venture Project.

 

References

Breaks, F., Selway, J. and Tindle, A. 2005, A Review of Rare-Element
(Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada,
and Large Worldwide Tantalum Deposits. Canadian Institute of Mining,
Metallurgy and Petroleum Journal, 14, 1-4, pp. 1-30.

 

 

This announcement can be viewed in full, along with rock sample location
details andJORC code sampling techniques and data can be found on the
company's website: https://artemisresources.com.au/aim-26/
(https://artemisresources.com.au/aim-26/) .

 

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