REG - Artemis Resources Ld - Phase One Drilling Update
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RNS Number : 3939G Artemis Resources Limited 28 April 2025
The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.
Phase One Drilling Update
Artemis Resources Limited ("Artemis" or "the Company") (ASX/AIM: ARV) is
pleased to announce results from the first phase of drilling of three gold
targets in the immediate area of the 100% owned Carlow gold/copper resource 1
(#_ftn1) . Phase One comprised five diamond holes for a total of 1,790m with
details of the targets included in Artemis announcements on 10 February and 19
March 2025.
With the current gold price (~USD3,300/oz) approximately double the price when
the Carlow Mineral Resource was announced in October 2022 2 (#_ftn2)
(~USD1,640/oz), Artemis has commenced a review of >400 historic drill holes
which formed the basis of the 2022 resource. Early results from this review
are encouraging and some initial findings are summarised in this announcement.
Highlights - Phase One Drilling
· 7m @ 2.9g/t Au including 1m @ 15.3g/t Au from 404m in 25ARDD001, the
first hole to test the Marillion Prospect, 600m east of the Carlow resource
· Marillion may be an extension of the Carlow gold/copper lode system,
with the 600m gap between Carlow and Marillion now a high priority for
drilling
· 1m @ 16.4g/t Au from 67m intersected at Titan, in hole 25ARDD004,
1.5km west of Carlow and on the same interpreted structure which hosts Carlow
and Marillion
· Titan intersection supported by elevated gold assays up to 0.5g/t Au
within previously untested sequence intruded by porphyry with strong
alteration, veining, brecciation
· Phase One drilling generates new interpretation of Carlow geological
setting opening up wider potential for mineralisation. Planning next phase
of drilling in June
Highlights - Carlow Review
· 192 high-grade gold assays (>10g/t Au) intersected in 80 historic
holes at Carlow 3 (#_ftn3) identified during initial stage of the Carlow
review
· 515 high-grade copper assays (>2.0% Cu) intersected in 162
historic holes at Carlow 4 (#_ftn4) identified during initial stage of the
Carlow review
· Deepest historic hole at Carlow intersected 4m @ 11.1 g/t Au &
2.0% Cu, outside the resource with potential completely open below and along
strike
· Conceptual technical studies of Carlow including metallurgical test
work are likely next steps pending completion of the Carlow review
Julian Hanna, Managing Director, commented:
"I am pleased to report very encouraging results from the drilling program
designed as an initial test of three previously undrilled gold targets near
Carlow and to scope out the potential for significant extensions to the known
gold/copper lode system at Carlow. 5 (#_ftn5) The program was successful in
intersecting high-grade gold at two of the targets and providing compelling
support for potential new discoveries and possible extensions to the Carlow
deposit.
Highlights from the drilling include high-grade gold (>15g/t Au)
intersected at the Marillion and Titan targets located 2.7km apart on the same
structural zone which hosts the 374koz gold and 66,000t copper resource at
Carlow. Importantly the first drill hole at the large Marillion target
intersected 7m @ 2.9g/t Au including 1m @ 15.3g/t Au from 399m downhole in
25ARDD001, approximately 600m east along strike from any previous drilling at
Carlow. This one intersection suggests gold mineralisation may extend well
beyond the current deposit with the gap between Carlow and Marillion now a
high priority for drilling planned to start in the June quarter.
The potential for extensions to the Carlow deposit is also supported by an
intersection of 4m @ 11.1 g/t Au and 2.0% Cu in hole 20CCDD003, the deepest
historic drill hole at Carlow 6 (#_ftn6) . This intersection is at
approximately 500m vertical depth and is not included in the Carlow resource.
The high-grade intersection in hole 20CCDD003 warrants step out drilling to
test for other high-grade gold and copper lodes and potential resource
extensions below Carlow.
The three recent holes at Titan were drilled below one of four surface gold
occurrences in quartz veins and chert outcrops around a central gravity-low
feature reported in 2024 and 2025 7 (#_ftn7) . The holes intersected
ultramafic rocks and sediments intruded by porphyry with elevated values of
gold up to 0.5g/t Au intersected in the ultramafic sequence and 1m @ 16.4g/t
Au intersected in the porphyry intrusion in hole 25ARDD004 from 67m down
hole.
The first step in the Carlow review is to evaluate numerous (>700)
high-grade gold and copper assays from historic drilling. High gold and copper
grades are widespread across the Carlow lode system with assays greater than
10g/t gold and 2.0% copper listed in Tables 1-4 and plotted on Figure 1 below.
Depending on the initial review we expect to appoint consultants to undertake
conceptual technical studies including metallurgical test work on drill core
samples from Carlow. We look forward to updating shareholders in coming weeks
on the planned follow-up drilling as well as progress on the review of the
Carlow gold/copper deposit at this exciting project".
Figure 1: Schematic longitudinal section extending from Marillion to Titan
showing main interpreted geological features, an outline of the current
Inferred Mineral Resource 8 (#_ftn8) at Carlow, pierce points of high-grade
gold (>10g/t Au) and copper (>2.0% Cu) assays 9 (#_ftn9) projected onto
the section and drill traces (red) of all recent Phase One drill holes
Drilling Summary
1. Marillion Hole - 25ARDD001
Hole 25ARDD001 was drilled through the Andover Intrusion which occurs as a
layered sill comprising gabbro, leuco-gabbro and pyroxenite with a relatively
flat lying brecciated basal contact. Underlying the intrusion is a ~300m
wide sequence of pillow basalts and local interflow sediments, with localised
brecciation and sulphides. Gold mineralisation intersected in 25ARDD001 (7m @
2.9g/t Au including 1m @ 15.3g/t Au from 399m downhole) is associated with a
zone of quartz/sulphide veins in basalt, which is the main host rock at
Carlow.
Underlying the basalt, 25ARDD001 intersected a sequence of shallow dipping
sediments and cherts containing abundant sulphide which is the likely source
of the Marillion electromagnetic anomaly 10 (#_ftn10) The chert/sediment
sequence is interpreted to be a shallow dipping equivalent of the Regal Thrust
which outcrops as prominent ridges of steep south dipping chert units forming
an arc to the west and north of Carlow. 25ARDD001was terminated at 714.6m in
sediments.
2. Carlow Extension Hole - 25ARDD002
Hole 25ARDD002 was drilled 100m east of the Carlow resource and intersected a
similar sequence as drilled in 25ARDD001. The main target of 25ARDD002 was the
potential for a down plunge extension to one of the Carlow lodes. 25ARDD002
reached the target depth which was intruded by a later gabbro dyke (probably
related to the Andover Intrusion) and the hole failed to intersect gold
mineralisation. A deeper copper intersection of 2.5m @ 0.87% Cu from 478.0m
downhole in 25ARDD002 was intersected in sediments below the gold target
depth.
3. Titan Holes - 25ARDD003, 25ARDD004, 25ARDD005
Three holes were drilled along a section as an initial test of a surface gold
occurrence hosted by west dipping quartz/ironstone veins exposed in shallow
pits on the eastern side of Titan. Previous selective sampling of the veins
returned very high-grade gold and silver assays 11 (#_ftn11) Holes
25ARDD003, 25ARDD004, 25ARDD005 intersected a chrome rich ultramafic sequence
overlying strongly altered, veined and brecciated sediments intruded by
porphyry dyke. Elevated gold values up to 0.5g/t Au were intersected in the
ultramafic sequence and porphyry and 1m @ 16.4g/t Au was intersected in the
porphyry in hole 25ARDD004 from 67m down hole. (Refer to Figure 2)
Figure 2: Titan cross section showing elevated gold intersections including 1m
@ 16.4g/t Au hosted in porphyry
Figure 3: View from a chert ridge (part of Regal Thrust) looking northeast
across Titan central gravity low feature. Showing approximate location of
recent Titan drill holes (25ARDD003, 25ARDD004, 25ARDD005 - refer to Figure
2)
Figure 4: Satellite image of eastern part of the Carlow Tenement (red) showing
outline of Carlow Resource 2022, and location of the 5 diamond drill holes
completed in the Phase One drilling program
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
Tel: +44 20 3829 5000
info@artemisresources.com.au (mailto:info@artemisresources.com.au)
Tel: +44 20 3829 5000
Qualified Person Statement
The information in this report that relates to Exploration Results was
compiled by Mr Julian Hanna, a Competent Person who is a member of the
Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hanna is
Managing Director of Artemis Resources Ltd and has sufficient experience that
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves". Mr Hanna consents
to the inclusion in this report of the matters based on his information in the
form and context in which it appears.
No New Information
To the extent that this announcement contains references to prior exploration
results which have been cross referenced to previous market announcements made
by the Company, unless explicitly stated, no new information is contained. The
Company confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcements and, in the case of estimates of Mineral Resources, that all
material assumptions and technical parameters underpinning the estimates in
the relevant market announcements continue to apply and have not materially
changed.
About Artemis Resources
Artemis Resources (ASX/AIM:ARV) is a gold, copper and lithium focused
resources company with a highly attractive suite of projects in Western
Australia's underexplored North Pilbara Gold Province.
· Attractive projects:
o Gold/Copper - Karratha Gold Project (100%) multiple prospects incl:
Carlow, Titan, Marillion
o Paterson Gold/Copper Project - adjacent to Havieron Mine (owned Greatland
Gold)
o Lithium - Artemis/Greentech Lithium JV: Mt Marie, Kobe, Osborne
· Highly strategic location: Tier 1 jurisdiction, close proximity to
major hub at Karratha including regional rail and road infrastructure,
administrative centre and Dampier Port
· Significant exploration upside: highly prospective tenure package in
the Pilbara Region of Western Australia which is rapidly emerging gold
province dominated by >12Moz Au Hemi Project
· Mineral Resource with growth potential: existing high-grade
gold-copper-cobalt Inferred Mineral Resource at Carlow (100%-owned tenure)
· Established processing site at Radio Hill: strategically located,
fully permitted
· IOCG Exploration Target: Artemis has applied for a 340km(2)
exploration licence 440km east of Kalgoorlie covering a large interpreted
magnetic intrusion prospective for IOCG type copper/gold
APPENDIX
Project HoleID Easting Northing Grid Azi Dip EOH
Carlow East 25ARDD002 507832 7698267 GDA94 MGA zone 50 340 -50 527.4
Marillion 25ARDD001 508346 7698466 GDA94 MGA zone 50 0 -70 714.6
Titan East 25ARDD003 505827 7699444 GDA94 MGA zone 50 45 -50 148.4
Titan East 25ARDD004 505812 7699429 GDA94 MGA zone 50 45 -65 162.5
Titan East 25ARDD005 505783 7699400 GDA94 MGA zone 50 45 -70 237.3
Drill hole parameters for five holes completed in the Phase One drill program
Hole ID Comments From (m) To (m) Interval (m) Au (g/t) Cu (%)
25ARDD001 399 400 1 1.98 0.4
25ARDD001 400 401 1 0.04 0.1
25ARDD001 401 402 1 1.71 0.8
25ARDD001 402 403 1 0.22 0.2
25ARDD001 403 404 1 0.15 0.1
25ARDD001 404 405 1 15.35 0.0
25ARDD001 405 406 1 0.85 0.1
25ARDD002 426.2 427 0.8 0.5 0.0
25ARDD002 478 479 1 0.6 0.5
25ARDD002 479 479.4 0.4 0.07 0.1
25ARDD002 479.4 480 0.6 0.22 0.4
25ARDD002 480 480.5 0.5 0.48 2.5
25ARDD003 NSI
25ARDD004 67 68 1 16.4 0.1
25ARDD005 NSI
Assay results in Phase One drill holes using 0.5g/t gold cut and 0.5% copper
cut
Table 1 - gold assays >10g/t Au - from historic drilling at Carlow
Table 2 - copper assays >2.0% Cu - from historic drilling at Carlow
Table 3 - Hole parameters for holes listed in Table 1 (with >10g/t Au
assays)
Table 4 - Hole parameters for holes listed in Table 2 (with >2.0% Cu
assays)
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 · Daimond drilling was used for the five Phase One holes described
specific specialised industry standard measurement tools appropriate to the in this announcement.
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 · Drilling sampling techniques employed at the Artemis core
meaning of sampling. facility include saw cut HQ (63mm) and NQ (50.6mm) drill core samples.
· Include reference to measures taken to ensure sample representivity and · HQ and NQ core is currently being used to drill out the
the appropriate calibration of any measurement tools or systems used. geological sequences and identify zones of mineralisation that may or may not
be used in any Mineral Resource estimations, mining studies or metallurgical
· Aspects of the determination of mineralisation that are Material to the testwork.
Public Report.
· Diamond core was sampled on geological intervals/contacts, with
· In cases where 'industry standard' work has been done this would be the minimum sample size of 0.25m and max 1.2m.
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to produce a 30 g charge for fire · Core was cut in half, with one half to be sent for analysis at an
assay'). In other cases more explanation may be required, such as where there accredited laboratory, while the remaining half was stored in appropriately
is coarse gold that has inherent sampling problems. Unusual commodities or marked core boxes and stowed in a secure core shed.
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information. · Core duplicates were quarter core, sampled from the same half
sent for analysis.
Drilling · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Diamond drilling completed by West Core Drilling.
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
techniques standard tube, depth of diamond tails, face-sampling bit or other type, · Drilling was completed using a track mounted diamond drill
whether core is oriented and if so, by what method, etc).
· Core diameter was HQ and NQ with standard wireline drilling.
· Rock types was considered to be competent, not requiring triple tube
drilling.
· Core was orientated using a Reflex core orientation device.
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 rock type 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 shows that no bias of grade exists due to
whether sample bias may have occurred due to preferential loss/gain of recoveries.
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · Diamond core is placed into core trays at the drill site with all
geotechnically logged to a level of detail to support appropriate Mineral marking on the core with respect to core block depths and orientation
Resource 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 core logging facility where it is processed
· The total length and percentage of the relevant intersections logged. for geological, structural, geotechnical logging.
· Photography of core is also completed and stored digitally within a
core photo library.
· The detail of logging is adequate to support a MRE and for
metallurgical study.
· All core is logged 100% of its length.
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 part of 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 · Duplicate samples are taken at regular intervals, using ¼ core from
in-situ material collected, including for instance results for field the assay sample.
duplicate/second-half sampling.
· Sample sizes are appropriate to the grain sizes of the material being
· Whether sample sizes are appropriate to the grain size of the sampled.
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
procedures used and whether the technique is considered partial or total. analysis of drill samples submitted. The laboratory techniques below are for
data and
all samples submitted to ALS and are considered appropriate for the style of
· For geophysical tools, spectrometers, handheld XRF instruments, etc, mineralisation defined within the Carlow Castle Project area
laboratory tests the 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.
· 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. Pulp was split to produce a sub-sample of 50g for re-assaying.
· Standards are matrix matched by using previous pulps from
drilling programs and homogenised using certified laboratories.
· Standards were analysed by round robins to determine grade.
· Standards were routinely inserted into the sample run at 1:20.
· Laboratory standards and blank samples were inserted at regular
intervals and some duplicate samples were taken for QC checks.
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 Data · 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
down-hole surveys), trenches, mine workings and other locations used in the initial drill hole collars. Standard practice is for the GPS to be left at
Points Mineral Resource estimation. the 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 multi-shot or continuous survey
· Quality and adequacy of topographic control. gyro-camera was used to determine the dip and azimuth of the hole at 30m
intervals down the hole
· The topographic surface was calculated from the onsite mine survey
pickups and subsequently verified by RTK GNSS collar surveys.
· Zone 50 (GDA 94).
· Surface collar coordinates are surveyed via RTK GNSS with 1cm
accuracy by a professional surveying contractor.
Data spacing · Data spacing for reporting of Exploration Results. · In certain areas, current drill hole spacing is variable and
dependent on specific geological, and geochemical targets.
and distribution · Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral · No sample compositing to date has been used for drilling completed by
Resource and Ore Reserve estimation procedure(s) and classifications applied. Artemis. Most results reported are the result of 1 metre downhole sample
intervals, with occasional smaller interval samples.
· 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 be near perpendicular to the strike of
possible structures and the extent to which this is known, considering the known mineralisation. Due to the structural and geological complexity of the
deposit type. area, mineralisation of unknown orientation can be intersected.
· 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 who
places calico sample bags in polyweave sacks. Up to 10 calico sample bags are
placed in each sack. Each sack is clearly labelled with:
o Artemis Resources
o Address of laboratory
o Sample range
· Samples were delivered by Artemis personnel to the transport company
in Karratha and shrink wrapped onto pallets.
· The transport company then delivers the samples directly to the
laboratory.
Audits or reviews · The results of any audits or reviews of sampling techniques and data. · Data is validated upon up-loading into the master database. Any
validation issues identified are investigated prior to reporting of results.
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 · Drilling by Artemis was carried out on E47/1797 - 100% owned by Artemis
agreements or material issues with third parties such as joint ventures, Resources Ltd. This tenement forms a part of a broader tenement package that
partnerships, overriding royalties, native title interests, historical sites, comprises the West Pilbara Project.
wilderness or national park and environmental settings.
· This tenement is in good standing.
· 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. · The most significant work to have been completed historically in the
Carlow Castle area, including the Little Fortune and Good Luck prospects, was
completed by Open Pit Mining Limited between 1985 and 1987, and subsequently
Legend Mining NL between 1995 and 2008.
· Work completed by Open Pit consisted of geological mapping,
geophysical surveying (IP), and RC drilling and sampling.
· Work completed by Legend Mining Ltd consisted of geological mapping
and further RC drilling.
· Legend also completed an airborne ATEM survey over the project area,
with follow up ground-based FLTEM surveying. Re-processing of this data was
completed by Artemis and was critical in developing drill targets for the
completed RC drilling.
· Compilation and assessment of historic drilling and mapping data
completed by both Open Pit and Legend has indicated that this data is compares
well with data collected to date by Artemis. Validation and compilation of
historic data is ongoing.
· All exploration and analysis techniques conducted by both Open Pit
and Legend are considered to have been appropriate for the style of deposit.
Geology · Deposit type, geological setting and style of mineralisation. · The Carlow Castle Co-Cu-Au prospect includes a number of mineralised
shear zones, located on the northern margin of the Andover Intrusive Complex.
Mineralisation is exposed in numerous workings at surface along quartz-rich
shear zones. Both oxide and sulphide mineralisation are evident at surface
associated with these shear zones.
· Sulphide mineralisation appears to consist of Chalcopyrite,
chalcocite, cobaltite, pyrrhotite and pyrite
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, · All intervals reported are composed of one (1) metre down hole
maximum and/or minimum grade truncations (eg cutting of high grades) and intervals for Reverse Circulation drilling and samples intervals are used for
cut-off grades are usually Material and should be stated. Diamond core are determined by geology and length weighted.
· Where aggregate intercepts incorporate short lengths of high grade · No upper cut-off grades have been used in reporting results.
results and longer lengths of low grade results, the procedure used for such
aggregation should be stated and some typical examples of such aggregations · No metal equivalent calculations are used in this report.
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 · The mineralisation in the Crosscut Zone strikes generally N-S
Exploration Results. confined within NW striking bounding structures with dips to the northeast at
approximately -80 -> 080 dip and dip direction. The drill orientation was
· If the geometry of the mineralisation with respect to the drill hole 240 azim -60 dip. Drilling is believed to be generally perpendicular to
angle is known, its nature should be reported. strike. Given the angle of the drill holes and the interpreted dip of the host
rocks and mineralisation, reported intercepts approximate true width, but are
· If it is not known and only the down hole lengths are reported, there not reported.
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 plans 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 · The significant results tabulated in the release are reported at a
practicable, representative reporting of both low and high grades and/or base grade of >0.5 g/t Au or >0.3% Cu. Internal dilution of up to 2m may
widths should be practiced to avoid misleading reporting of Exploration be included in an intersection.
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be reported · Targeting for drilling was completed by Artemis based on compilation
including (but not limited to): geological observations; geophysical survey of historic exploration data, surface expression of targeted mineralised shear
results; geochemical survey results; bulk samples - size and method of zone, ground penetrating geophysics and use of the 3D block model.
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 · The results at the Carlow Castle Co-Cu-Au project warrant further
extensions or depth extensions or large-scale step-out drilling). drilling. The drill program results to date are considered excellent.
· Diagrams clearly highlighting the areas of possible extensions, · Large scale geological mapping to generate further targets.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
1 (#_ftnref1) Refer to Artemis ASX announcement on 13 October 2022
2 (#_ftnref2) Refer to Artemis ASX announcement on 13 October 2022
3 (#_ftnref3) Refer to Table 1 in this announcement
4 (#_ftnref4) Refer to Table 2 in this announcement
5 (#_ftnref5) Refer to Artemis ASX announcement on 13 October 2022 and
Figure 1 in this announcement
6 (#_ftnref6) Refer to Figure 1 in this announcement
7 (#_ftnref7) Refer to Artemis ASX announcements on 10 October 2024 and 28
January 2025, and Figure 3
8 (#_ftnref8) Refer to Artemis ASX announcement on 13 October 2022
9 (#_ftnref9) Refer to Tables 1-4 in this announcement
10 (#_ftnref10) Refer to Artemis ASX announcement on 10 February 2025
11 (#_ftnref11) Refer to Artemis ASX announcement on 10 October 2024
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