REG - Artemis Resources Ld - Paterson Central Project Update
12/12/2022 07:00
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RNS Number : 2918J Artemis Resources Limited 12 December 2022
This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.
Artemis Resources Limited
("Artemis" or the "Company")
(ASX/AIM: ARV, FRA: ATY, US: ARTTF)
Paterson Central Project Update
Mineralised Breccias encountered at new ~1.5km long Apollo Copper-Gold Target
Artemis Resources Limited is pleased to provide an update at its 100%-owned
Paterson Central Project in the Paterson Province region of Western Australia.
Highlights
§ A total of 5,135m of diamond drilling was completed in H2 2022 at the
Apollo and southern Atlas targets, located only 2km north and along strike of
the 9.4Moz AuEq Havieron gold-copper discovery.
§ Reprocessed geophysics, received in September, revealed the original Apollo
target is in fact just one part of a ~1.5km long magnetic regional anomaly
(Figure 1).
§ Apollo appears to be a large, NW-trending regional splay fault that has
been intruded by a dolerite intrusion - a similar structural setting to the
nearby Havieron discovery.
§ Drilling at Apollo intercepted sporadic gold and copper mineralisation in
drill holes 22PTMRD010 and 22PTMRD011, with peak gold and copper grades of
1.73 g/t Au and 2.99% Cu.
§ Large intercepts (up to 90m) of pervasive veining and multi-phase crackle
breccias were encountered either side of the dolerite intrusion, often with
significant amounts of visible pyrite, chalcopyrite and pyrrhotite, and in
places visibly similar tenor to the Newcrest Havieron Project 2km to the South
(Figure 2).
§ Of particular interest is a demagnetised zone at the centre of the Apollo
magnetic anomaly (Figure 3).
§ Next steps at Paterson Central are to undertake a down-hole electromagnetic
survey (DHEM) at Apollo to identify areas which may host more substantial gold
and copper mineralisation.
Mark Potter, Chair, commented: "The redefined drilling at the Apollo target
has been highly encouraging from a technical perspective, it demonstrates the
potential for discovering a significant gold-copper mineralised system.
The initial early stage gold and copper anomalous signatures have nearly all
the geological elements we are ultimately looking for when trying to discover
the next Havieron-like orebody. Large intervals of crackle breccias and
dense vein sets often with abundant pyrite, chalcopyrite and pyrrhotite have
been discovered at Apollo.
Going forward, the challenge from here is to focus on where these mineralised
fluids, likely active along Apollo, have coalesced into potentially economic
mineralisation. To this end and as our next step, DHEM, will be undertaken at
Apollo to better target conductors, potentially related to mineralisation.
DHEM surveys will be utilised at all of our highly prospective targets at
Paterson which will provide valuable data and enhance exploration targeting.
Shareholders will be provided with further updates in the coming weeks as we
progress our Paterson exploration activities."
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Figure 1: Reprocessed magnetics showing the ~1.5km long Apollo structure
(highlighted in dashed line). Completed drillholes (white dots). Inset; Apollo
location and anomaly size with respect to Havieron resource footprint (black
outline).
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Figure 2: Core showing massive sulphide cement breccia comprising of
chalcopyrite-pyrite-pyrrhotite in Hole 22PTMRD011 from 752.75 to 753.5m.
Copper and multi-element assays for this core are still pending.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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Figure 3: Location of the recently heritage cleared tracks and drill pads at
Apollo. Image shows satellite over magnetics to show the location of the pads
in relation to the magnetic anomaly. Demagnetised target zone highlighted in
yellow.
Summary
Assay results received to date show sporadic gold and copper occurs within a
suite of rocks that in many places are similar to those described at the
nearby Havieron deposit 1 . From an examination of the exploration history at
Havieron(1) it is evident that the discovery of large intercepts of
multi-sulphide endowed, high-temperature crackle breccias and veining doesn't,
in and of itself, confirm the presence of gold, which is expected to occur
almost entirely at microscopic level. Furthermore, the exploration history(1)
at Havieron tells us holes with exceptionally large gram-metre intercepts
(HAD005) can be as little as 50m from holes that returned no significant
results at all (HAD006).
Havieron appears to have a very small gold geochemical halo surrounding the
core deposit, thus the very low cut-off grade (0.2g/t Au) to report
significant results is used.
In the Apollo drill holes, along with sporadic gold and chalcopyrite, a copper
sulphide mineral is present in varying amounts, sometimes pervasively
disseminated and on occasion as semi-massive to massive sulphide cement
infill.
The most visually abundant chalcopyrite of the three Apollo holes completed in
H2 2022 was observed in 22PTMRD011 for which copper and multi-element assays
are still pending.
Artemis believes these factors to be important in assessing the significance
or otherwise of the results presented. Core intervals share characteristics
with core described at Havieron.
Hole 22PTMRD011
Hole 22PTMRD011 was drilled to the north to test a perpendicular section of
the magnetic signature and the dolerite intrusive (Figure 4). Copper and other
non-gold multi-element assays for the hole are still pending.
This hole was the most visually impressive and intersected significant
sulphide mineralisation (Table 1) within breccias and veins alike (Figures 5,
6 and 7). Brittle quartz-carbonate matrix supported breccias were dominate in
this hole and was noted from 705m to 826m (Figures 8 and 9) where it becomes
weaker and gives way to sericite-quartz altered sediments.
A dolerite was intersected from 784m to 854m, with the hanging wall contact
showing fluidised breccias and sulphides in the matrix (Figures 10 and 11).
Brittle brecciation then restarts at around 903m to 937m where the hole ends
at 940m.
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Figure 4: Section 462,350mE looking east showing drill traces with Au
intersections on geology and magnetics highlighted in red dashed lines.
Table 1: Significant Intersections for 22PTMRD011
Intercepts >0.20 g/t Au
Hole ID From To Intercept
22PTMRD011 714m 715m 1.0m @ 0.29 g/t Au
22PTMRD011 733m 734m 1.0m @ 0.26 g/t Au
22PTMRD011 752.6m 755m 2.4m @ 0.85g/t Au
Including 754m 755m 1.0m @ 1.73 g/t Au
22PTMRD011 904m 905m 1.0m @ 0.61 g/t Au
Intercepts >0.25% Cu
Hole ID From To Intercept
22PTMRD011 All Copper Assays Pending
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Figure 5: Hole 22PTMRD011 from 750.07m - 754.61m showing the typical
quartz-carbonate breccia that dominates the hole from 705m - 826m. Drilling
had intersected a section of massive sulphide within brecciated quartz and
carbonate matrix from 752.7 - 753.5m. Sulphides here comprise of
chalcopyrite-pyrite-pyrrhotite.
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Figure 6: Hole 22PTMRD011 from 754.7 - 755.1 showing large slug of sulphide
comprising of pyrite, chalcopyrite, sphalerite(?) and pyrrhotite. Copper and
multi-element assays pending.
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Figure 7: Hole 22PTMRD011 from 754.7 - 755.1, reverse side of Figure 6. Quartz
carbonate clasts with sulphide matrix comprising chalcopyrite, pyrite,
sphalerite(?) and possibly galena(?). Multi-element assays pending.
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Figure 8: Hole 22PTMRD011 from 745.70 - 750.07m showing typical quartz -
carbonate matrix supported jigsaw breccia that is dominate in the hole. Large
slug of Chalcopyrite at 747.90m (yellow). Multi-element assays pending.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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Figure 9: Hole 22PTMRD011 from 749.85 - 750.07m showing typical quartz -
carbonate matrix supported jigsaw breccia that is dominant in the hole.
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Figure 10: Hole 22PTMRD011 772.60m to 777.19m showing the fluidised breccia
occurrence located on the margins of the dolerite intrusive. There is a slug
of massive pyrrhotite located at 772.7m highlighted in yellow.
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Figure 11: Hole 22PTMRD011 interval 773.7 - 773.9m showing a close up of the
fluidised breccia. Note that some clasts have been reabsorbed into the matrix,
while later incorporated clasts are sub-rounded. Minor sulphides are noted in
the matrix. Wall rock exhibits sericite alteration with minor albite
overprints.
Hole 22PTMRD010
This hole was planned to further test the magnetic anomaly and below the
sulphide occurrences in GDRCD006 (Figure 12). The hole intersected sulphide
mineralisation at around 530m (Table 2). This mineralisation again is
structurally hosted, within vein and breccia occurrences (Figures 13 and 14).
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Figure 12: Section 7,600,450mN looking to the north showing drill traces with
Au and Cu intersections on geology and magnetics highlighted in red dashed
lines.
Table 2: Significant Intersections for 22PTMRD010. Partial multi-element
assays pending.
Intercepts >0.25% Cu
Hole ID From To Intercept
22PTMRD010 620m 624m 4.0m @ 0.41% Cu, 0.05g/t Au
22PTMRD010 Includes 623m 624m 1.0m @ 1.25% Cu, 0.15g/t Au
22PTMRD010 626m 630m 4.0m @ 0.27% Cu, 0.07g/t Au
22PTMRD010 Includes 626m 627m 1.0m @ 0.75% Cu, 0.18g/t Au
22PTMRD010 639m 643m 4.0m @ 0.97% Cu, 0.31g/t Au
22PTMRD010 Includes 639m 640m 1.0m @ 2.99% Cu, 0.39g/t Au
Intercepts >0.20 g/t Au
Hole ID From To Intercept
22PTMRD010 617m 618m 1.0m @ 1.49g/t Au, 0.02% Cu
22PTMRD010 639m 644m 5.0m @ 0.31 g/t Au, 0.81 % Cu
Including 639m 640m 1.0m @ 0.39 g/t Au, 2.99% Cu
22PTMRD010 687m 690m 3.0m @ 0.31g/t Au*
Including 687m 688m 1.0m @ 0.70g/t Au*
* Waiting on multi-element assays
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Figure 13: Hole 22PTMRD010 at 639.3 - 639.6m showing brecciated veining with
chalcopyrite and pyrite mineralisation.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf)
Figure 14: Hole 22PTMRD010 at 642.2 - 642.8 showing vein hosted sulphides of
pyrite and chalcopyrite mineralisation. Veins of sulphide and quartz appear
above and below this interval.
Drilling encountered a dolerite intrusive at 966m to 1,013m and exited into
strongly silicified sediments with patchy albite alteration. No further
sulphide mineralisation was noted in the footwall of the intrusive. It is
interesting to note that mineralisation in hole 22PTMRD010 occurred higher in
the hole and not in the vicinity of the dolerite intrusive.
Hole GDRCD006
The decision to re-enter and extend GDRCD006 to properly test a coincident
magnetic and gravity high was the first step in planning the additional holes
at Apollo. Drilling encountered a high-temperature alteration suite of massive
dolomitic marble at ~530m followed by intermittent/sporadic and in places very
intense silica-calcite-chlorite-actinolite ±biotite with abundant pyrite and
minor chalcopyrite in veins, halos and minor breccia infill over individual
widths up to 0.5m between ~535m and ~560m downhole. Veins of this type of
mineral assemblage are usually indicative of high temperature fluids (Figure
15).
Zones of disseminated sulphides were observed within the matrix of a
brecciated dolerite intrusion, which was intersected from 796m - 915m. As
drilling approached the magnetic high target, GDRCD006 intersected
intermittent sulphide mineralisation at around 813m, comprising
pyrite-pyrrhotite-chalcopyrite in veins. This vein-hosted mineralisation
continued intermittently through to 1,056m (Figure 16). The hole continued in
weakly altered sediments of the Lamil Formation until the end at 1,102m.
Alteration styles were dominated by sericite in the hanging wall to the
dolerite, however albite alteration was strongest in the footwall of the
intrusive (Figure 17).
Table 3 below shows significant intervals encountered in veins and breccias.
Table 3: Significant Intersections for GDRCD006
Intercepts >0.20 g/t Au
Hole ID From Depth Intercept
GDRCD006 1032 1033 1.0m @ 0.22 g/t Au, 0.07 % Cu
GDRCD006 1090.9 1091.1 0.3m @ 3.08 g/t Au, 0.01 % Cu
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Figure 15: Hole GDRCD006 at 829.50m close up of sulphides in carbonate quartz
veining. Some minor chalcopyrite is noted. Darker shades of minerals may be
actinolite.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf)
Figure 16: GRDCD006 at 960.45m close up of quartz carbonate breccia with
multi-phase sulphides. Darker minerals may be tourmaline associated with the
later sulphides.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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Figure 17: GRDCD006 tray at 1035.6m to 1038.9 shows vein and breccia formation
with pyrite-chalcopyrite sulphide mineralisation associated with albite
alteration of country rock.
Holes 22PTMR008 and 009 had tested targets on the east and the west of the
magnetic and gravity high that corresponds to the Havieron Dolerite unit,
which strikes in a northly direction.
Both these holes had drilled variable altered sediments indicating high
temperature alteration, particularly hole 22PTMRD008 which had drilled into
the footwall of the dolerite and then terminated in a granodiorite at depth.
The drilling at Apollo has shown that the magnetics have traced out what
appears to be an intrusive dolerite in the form of a sill, since it appears to
be parallel to the regional bedding layers of the Lamil Formation sediments.
The intrusion event and timing of the quartz-carbonate breccia is still in
debate, however some initial interpretations show:
· Mineralisation does not appear to be related to the dolerite, however
remobilisation of sulphides does occur along its margin.
· The mineralisation at Apollo is structurally controlled, i.e.
coincident with veining and later-stage brecciation.
· There are at least two phases of breccias, a hydrothermal fluidised
occurrence (Figure 10) as noted near the contact of the dolerite and a
tectonic event, as indicated by the presence of quartz-carbonate matrix
support breccias, exhibiting angular clasts (Figures 8 and 9).
· The mineralisation noted in hole 22PTMRD010 occurs higher up and not
near the dolerite.
· The source of the mineralisation at Apollo appears to be deeper to
the NE and may be related to the magnetic flexure and the central
de-magnetised zone as shown in Figure 18.
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Figure 18: TMI RTP magnetics and location of the recently drilled holes at
Apollo. The magnetics highlight potential flexures in the structural lineament
that may outline a subsidiary sub-parallel structure to the main Havieron
Thrust system, located to the southwest. Potential dilatant zones are
highlighted in red. There is a demagnetised 'dead' zone between the two
magnetic highs which may indicate fluid/wall-rock interaction indicating
alteration, noting that the mineralisation on 22PTMRD011 does occur in near
this zone.
Competent Persons Statement
The information in this announcement that relates to Exploration Results and
Exploration Targets is based on information compiled or reviewed by Mr. Steve
Boda, who is a Member of the Australasian Institute of Geoscientists
(Membership No 1374). Mr. Boda is an employee of Artemis Resources Limited.
Mr. Boda has sufficient experience that is relevant to the style of
mineralisation and type of deposit under consideration and to the activity
which he is undertaking 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. Boda consents to the inclusion in the
announcement of the matters based on his information in the form and context
in which it appears.
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 gold projects
- the Greater Carlow Gold Project in the West Pilbara and the Paterson Central
exploration project in the East Pilbara.
This announcement was approved for release by the Board.
For further information on the Company, please visit
www.artemisresources.com.au (http://www.artemisresources.com.au) or contact:
Artemis Resources Limited
Mark Potter Mark.Potter@artemisresources.com.au
(mailto:Mark.Potter@artemisresources.com.au)
or via Camarco
WH Ireland Limited (Nominated Adviser)
Antonio Bossi / Megan Liddell (Corporate Finance) Tel: +44 20 7220 1666
Cenkos Securities (Broker)
Neil McDonald / Adam Rae / Pearl Kellie (Corporate Finance) Tel: +44 20 7894 7000
Leif Powis (Corporate Broking) Tel: +44 20 7894 7000
Camarco (Financial PR)
Gordon Poole / Emily Hall / Rebecca Waterworth Email: artemis@camarco.co.uk (mailto:artemis@camarco.co.uk)
Table 4: Hole Statistics
HoleID Type Easting GDA94 Northing GDA94 RL (m) Dip Azim Mag Total Depth (m)
GDRCDD006 DD 462127 7600424 2626 -65.63 80.42 1102.9
22PTMRD008 MD 464560 7600420 267 -75.0 80.0 985
22PTMRD009 MD 464560 7600420 267 -69.0 276.6 1054.9
22PTMRD010 MD 462120 7600420 262 -75.0 92.87 1052.1
22PTMRD011 MD 462360 7600420 262 -76.1 353.8 940.0
JORC Code, 2012 Edition - Table 1
SECTION 1 SAMPLING TECHNIQUES AND DATA
(Criteria in this section apply to all succeeding sections.)
Criteria Commentary
Sampling · Nature and quality of sampling (eg cut channels, random chips, or · Mud rotary drilling was used to drill the pre-collars for the diamond
specific specialised industry standard measurement tools appropriate to the tails. No samples were taken in the mud rotary interval.
techniques minerals under investigation, such as down hole gamma sondes, or handheld XRF
instruments, etc). These examples should not be taken as limiting the broad · Diamond core was summary logged at the Paterson site, but no samples
meaning of sampling. were taken.
· Include reference to measures taken to ensure sample representivity and · Drilling sampling techniques employed at the Artemis core facility
the appropriate calibration of any measurement tools or systems used. include saw cutting HQ and NQ drill core samples.
· Aspects of the determination of mineralisation that are Material to the · Core was cut in half, with one half sent for analysis at an
Public Report. accredited laboratory, while the remaining half was stored in appropriately
marked core boxes and stowed in a secure core shed.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m · HQ and NQ wireline core was used to drill out the geological
samples from which 3 kg was pulverised to produce a 30 g charge for fire sequences and identify zones of mineralisation that may or may not be used in
assay'). In other cases more explanation may be required, such as where there any Mineral Resource estimations, mining studies or metallurgical testwork.
is coarse gold that has inherent sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules) may warrant disclosure of detailed · Diamond core was sampled on geological intervals/contacts, with the
information. minimum sample size of 0.25m and max 1.2m.
· Drill core was sent to an ARV facility, where the core will be
securely stored and processed.
Drilling · Drill type (eg core, reverse circulation, open-hole hammer, rotary air · Mud rotary and diamond drilling was completed by Durock Drilling using
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or a truck mounted DE840 multipurpose rigs mounted on an 8x8 truck.
techniques standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc).
Drill sample · Method of recording and assessing core and chip sample recoveries and · Recoveries are recorded on logging sheets and are also independently
results assessed. measured by drillers using drill runs.
recovery
· Measures taken to maximise sample recovery and ensure representative · Due to the competent nature of the rocktype encountered in the
nature of the samples. projects, diamond core recovery is >90%
· Whether a relationship exists between sample recovery and grade and · Statistical analysis on recoveries vs grade at this stage of the
whether sample bias may have occurred due to preferential loss/gain of program is not necessary.
fine/coarse material.
Logging · Whether core and chip samples have been geologically and geotechnically · Diamond core is placed into core trays at the drill site with all
logged to a level of detail to support appropriate Mineral Resource marking on the core with respect to core block depths and orientation
estimation, mining studies and metallurgical studies. locations completed at site.
· Whether logging is qualitative or quantitative in nature. Core (or · Core trays are labelled with tray numbers and from - to depths.
costean, channel, etc) photography.
· Core is transferred to a core logging facility where it is processed
· The total length and percentage of the relevant intersections logged. for geological, structural, geotechnical logging.
· The hole is logged in its entirety, hence 100% of the core will be
detailed logged.
·
Sub-sampling · If core, whether cut or sawn and whether quarter, half or all core · Core is marked up for sampling according to logging sheets, using the
taken. orientation line as a guide. The core cutting line is drawn 90 degrees
techniques and
clockwise from the orientation line, looking down the core
· If non-core, whether riffled, tube sampled, rotary split, etc and
sample whether sampled wet or dry. · Core is cut in half using an Almonte automatic core saw.
preparation · For all sample types, the nature, quality and appropriateness of the · One half is retained as a representative sample and replaced in the
sample preparation technique. core tray; the other half is placed into a pre-labelled sample bag, recorded
and sent as a batch to the laboratory for assaying.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples. · The same side of the core is always retained or sent to the lab.
· Measures taken to ensure that the sampling is representative of the · Sample sizes are appropriate to the grain sizes of the material being
in-situ material collected, including for instance results for field sampled.
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the material
being sampled.
Quality of assay · The nature, quality and appropriateness of the assaying and laboratory · A certified laboratory, ALS Chemex (Perth) was used for all analysis of
procedures used and whether the technique is considered partial or total. drill samples submitted. The laboratory techniques below are for all samples
data and
submitted to ALS and are considered appropriate for the style of
· For geophysical tools, spectrometers, handheld XRF instruments, etc, the mineralisation defined within the Paterson Project area
laboratory tests parameters used in determining the analysis including instrument make and
model, reading times, calibrations factors applied and their derivation, etc. · The sample preparation followed industry best practice. Fire assay
samples were dried, coarse crushing to ~10mm, split to 300g subsample,
· Nature of quality control procedures adopted (eg standards, blanks, followed by pulverisation in an LM5 or equivalent pulverising mill to a grind
duplicates, external laboratory checks) and whether acceptable levels of size of 85% passing 75 micron.
accuracy (ie lack of bias) and precision have been established.
· This fraction was split again down to a 50g charge for fire assay
· 50-gram Fire Assay (Au-AA26) with ICP finish for Au.
· No QC for Ag currently in place.
· All samples were dried, crushed, pulverised and split to produce a
sub-sample of 50g which is digested and refluxed with hydrofluoric, nitric,
hydrochloric and perchloric acid (4 acid digest).
· This digest is considered a total dissolution for most minerals
· Analytical analysis is performed using ICP-AES Finish (ME-ICP61) for
Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni,
P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn.
· Additional Ore Grade ICP-AES Finish (ME-OG62) for Cu reporting out of
range.
· Standards are supplied by ORE Research and Exploration Pty Ltd and
Geostats Pty Ltd.
· Standards were routinely inserted into the sample run at 1:20.
· Laboratory standards and blank samples were inserted at regular
intervals.
Verification of · The verification of significant intersections by either independent or · Sampling was undertaken by field assistants supervised by experienced
alternative company personnel. geologists from Artemis Resources. Significant intercepts were checked by
sampling and
senior personnel who confirmed them as prospective for gold mineralisation.
· The use of twinned holes.
assaying
· No twin holes using RC was completed in this program.
· Documentation of primary data, data entry procedures, data verification,
data storage (physical and electronic) protocols. · Electronic data capture on excel spreadsheets which are then uploaded
as .csv files and routinely sent to certified database management provider.
· Discuss any adjustment to assay data.
· Routine QC checks performed by Artemis senior personnel and by database
management consultant.
· PDF laboratory certificates are stored on the server and are checked by
the Exploration Manager.
Location of · Accuracy and quality of surveys used to locate drill holes (collar and · A Garmin GPSMap62 hand-held GPS was used to define the location of the
down-hole surveys), trenches, mine workings and other locations used in initial drill hole collars. Standard practice is for the GPS to be left at the
data points Mineral Resource estimation. site of the collar for a period of 5 minutes to obtain a steady reading.
Collar locations are considered to be accurate to within 5m.
· Specification of the grid system used.
· A high-quality downhole north-seeking continuous survey gyro-camera was
· Quality and adequacy of topographic control. used to determine the dip and azimuth of the hole at 30m intervals down the
hole.
· Zone 50 (GDA 94).
· Surface collar coordinates were surveyed using only hand-held Garmin
62sx units.
Data spacing · Data spacing for reporting of Exploration Results. · The holes in this program are deemed 'wild-cat' holes and as such are
not drilled to any grid spacing, but rather targeting geophysical targets at
and distribution · Whether the data spacing and distribution is sufficient to establish the depth.
degree of geological and grade continuity appropriate for the Mineral Resource
and Ore Reserve estimation procedure(s) and classifications applied. · No compositing will be applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Drill holes were designed to intersect geophysical targets and hence
possible structures and the extent to which this is known, considering the orientations of structures and mineralisation are not known.
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.
Sample security · The measures taken to ensure sample security. · The chain of custody is managed by the supervising geologist.
· Core trays are stacked on pallets at site 8 trays high and strapped.
· Drillers transport pallets off-site to ARV logging facility.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · Not completed at this stage.
SECTION 2 REPORTING OF EXPLORATION RESULTS
(Criteria listed in the preceding section also apply to this section.)
Criteria Commentary
Mineral tenement and land tenure status · Type, reference name/number, location and ownership including agreements · Drilling by Artemis was carried out on E45/5276 - 100% owned by Artemis
or material issues with third parties such as joint ventures, partnerships, Resources Ltd.
overriding royalties, native title interests, historical sites, wilderness or
national park and environmental settings. · This tenement is in good standing, free of any impediments.
· The security of the tenure held at the time of reporting along with any
known impediments to obtaining a licence to operate in the area.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Majority of the exploration for gold was completed by Newcrest and its
predecessor Newmont, within the area encompassing E45/2418, 45 km to the east
of Telfer gold mine known locally as Anketell, commenced in 1986 and
progressed in three main phases to 1996.
· 1986-1989: Originally part of Newmont's Canning tenement group, surface
geochemical sampling (mainly BLEG) and RAB and RC drilling were undertaken in
the Anketell area following the recognition of a suite of distinctive and
intriguing aeromagnetic anomalies. Results from this work were not encouraging
and the tenements were surrendered.
· 1991-1992: New tenement coverage was obtained by Newcrest following
detailed interpretation of the aeromagnetics and recognition that the earlier
work had not, in fact, tested the magnetic anomalies because of thick
Phanerozoic cover. Diamond drilling was used to test several of the anomalies,
with mineralization of potential economic significance being intersected in
two holes at the Havieron Prospect. Unfortunately, the Proterozoic-hosted
mineralization is concealed beneath +400m of post-mineral cover, and no
further work was done in this period.
· 1995: The project was again revived, with a program of diamond drill
testing of additional magnetic targets in the northern parts of the Anketell
area without success, and at the Havieron Prospect with only minor success.
· 1997: No exploration was undertaken on M45/605. The tenement was
included in a package of Telfer tenements on offer for farm-out.
· 1998-2001: The Havieron tenement M45/605 was included as part of the
Normandy/Newcrest Crofton JV. No further field work was undertaken during this
time and Normandy withdrew from the JV on 10" January, 2001. The Mining Lease
was subsequently surrendered by Newcrest Mining Limited on the 19" March,
2001.
· 2003: The area was reapplied for by Newcrest Mining Limited on the 43"
May, 2002 and subsequently granted by DOIR on May 8, 2003 as the Terringa
Project (E45/2418) with an area of 19,600ha (196km'). The tenement has
subsequently been renamed Havieron to reflect the location of the original
AMAG anomaly.
· 2004: Exploration conducted on E45/2418 comprised the drilling of one
(1) diamond drillhole (HACO301) for a total of 717.9m - 102m of RC and 615.9m
of core. A maximum intercept of 1m @ 180 ppb from 503m dhd was recorded.
· 2005: Nine core samples from HAC0301 were submitted to Mason Geoscience
Pty Ltd for thin section petrological analysis.
· 2006: An aeromagnetic survey was conducted across the entire tenement.
· 2007: No exploration conducted on surrendered ground.
· 2008: A 4 hole air core program was carried out to test a aeromagnetic
anomaly.
· 2013 - 2015, Potash exploration by Reward Minerals concluded that the
area was not prospective for potash occurrences.
· 2014 - Ming Gold explored on E45/3598. Work included reinterpretation
of the geophysical data (magnetics, gravity and EM) along with core inspection
at Havieron. Due to significant depth of cover the Proterozoic basement was
not reached for several targets and in other cases it is interpreted that the
drilling potentially missed the anomalies.
· 2018 - Tenement E45/5276 acquired by Armada Mining, subsidiary of
Artemis Resources. Armada completed low detection soil sampling (MMI and Ionic
leach). Three deep diamond holes were drilled in the Nimitz Prospect only
2.5km to the east of Havieron area for a total of 3,012m. Drilling programs
are on-going.
Geology · Deposit type, geological setting and style of mineralisation. · This program has yet to define the type and style of mineralisation
that is being targeted.
· However, based on other styles of mineralisation located nearby, as in
the Havieron Deposit, the types of mineralisation likely to be discovered
include IOCG, porphyry-style mineralisation, breccia hosted Au-Cu and skarns.
· Geological setting of the area includes thick units of Permian
fluvioglacials which form the major component of the Phanerozoic cover
sequence. Lithologies consist of tillite, sandstone and siltstone. The cover
thickness increases to the east. The sandstone units are usually medium to
coarse-grained, with lesser finer grained intervals and usually grey in
colour. The coarser grained sandstones are occasionally brown or light brown
in colour. Most of the sequence appears to be fairly flat lying. The siltstone
units are light or dark grey in colour. Clasts in the tillite have been
derived from a large range of rock types including calcareous sediments,
sandstone and siltstone, as well as crystalline rocks such as granite and
gneiss. Most of these rock fragments appear to have been derived originally
from the Proterozoic (Stewart, M.A., 2008 Annual Technical Report, Newcrest).
· Occurrences of pyrite in these layers are not significant for gold and
is interpreted to be diagenetic.
· Drilling that was undertaken by Newcrest indicate the development of
higher grade metamorphic units and granite in the north of the project area
and lower grade metamorphics in the south, including the Havieron prospect.
The marble and quartzite at Havieron are believed to be related to the
Puntapunta Formation and Wilkie Quartzite Formations, both of which are linked
to the Yeneena Group. Down-hole dip measurements at the Havieron prospect
suggest a north-northwest to east-west strike to the local bedding which is in
contrast to the regional west-northwest strike. The variety of dip direction
in the area implies a structural complexity that is not yet fully understood,
however, is consistent with the prospect representing a geological anomaly
accounting for the localised mineralisation. Sulphide mineralisation at
Havieron includes pyrite ± chalcopyrite occurring as breccia-fill, and
occasionally, strata-bound pyrrhotite, all of which appear to be linked to
gold and bismuth mineralisation (Stewart, M.A., 2008 Annual Technical Report,
Newcrest).
Drill hole Information · A summary of all information material to the understanding of the · Drill hole information is contained within this release.
exploration results including a tabulation of the following information for
all Material drill holes:
· easting and northing of the drill hole collar
· elevation or RL (Reduced Level - elevation above sea level in metres) of
the drill hole collar
· dip and azimuth of the hole
· down hole length and interception depth
· hole length.
· If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain why
this is the case.
Data aggregation methods · In reporting Exploration Results, weighting averaging techniques, maximum · Not applicable
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 · Not Applicable
Exploration Results.
· If the geometry of the mineralisation with respect to the drill hole
angle is known, its nature should be reported.
· If it is not known and only the down hole lengths are reported, there
should be a clear statement to this effect (eg 'down hole length, true width
not known').
Diagrams · Appropriate maps and sections (with scales) and tabulations of · Appropriate diagrams are shown in the text.
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.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · Not Applicable
practicable, representative reporting of both low and high grades and/or
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be reported · Not Applicable
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.
Further work · The nature and scale of planned further work (eg tests for lateral · Further work with regards to drilling is justified to continue to test
extensions or depth extensions or large-scale step-out drilling). geophysical anomalies, based on results to date.
· Diagrams clearly highlighting the areas of possible extensions, including
the main geological interpretations and future drilling areas, provided this
information is not commercially sensitive.
1 Ackerman, B., et.al., 2021.Havieron Gold-Copper Deposit: Next Generation
of Undercover Discoveries. NewGenGold Conference Proceedings 2021, p.145 - 159
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