REG - Artemis Resources Ld - Quarterly Activities Report December
31/01/2025 08:30
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RNS Number : 4524V Artemis Resources Limited 31 January 2025
31 January 2025
Quarterly Activities Report
For the period ended 31 December 2024
_______________________________________________________________________________
Highlights:
Karratha Gold Project - ARV 100%
· Detailed geological mapping, a new geophysical and structural
interpretation and additional rock chip sampling completed during the quarter
across the Carlow Tenement have improved the understanding of the gold
potential and identified several high priority targets for drilling commencing
in early February 2025.
· Drilling will initially test three targets along a 4km zone
centred around the 374Koz Carlow gold resource. The first diamond hole will
test the large Marillion Electromagnetic ("EM") conductor 500m east of Carlow,
followed by drilling to test for extensions to Carlow down plunge from
high-grade gold intersections.
· Reverse Circulation ("RC") drilling is planned to test below
surface gold occurrences in mineralised veins and chert outcrops at the Titan
Prospect 2km northwest of Carlow and a gravity-low feature potentially
associated with the surface gold at Titan.
· Additional rock chip results from selected surface samples at Titan,
announced during the quarter include:
o 553,754 g/t Au & 1,305 g/t Ag (24AR19-075)
o 223,056 g/t Au & 1,195 g/t Ag (24AR19-068)
o 33,389 g/t Au & 233 g/t Ag (24AR19-061)
· Rock chip results from selected surface samples at the Thorpe
prospect, 2km south of Carlow, announced during the quarter include:
o 45.8 g/t Au, 3.7% Cu & 38.6 g/t Ag (24AR22-020)
o 12 g/t Au, 1.1% Cu & 3.7 g/t Ag (24AR22-014)
o 10.3% Cu, 0.4g/t Au & 69.4 g/t Ag (24AR22-013)
Corporate
· Firm commitments received for A$4 million placement with Tranche One
completed and $2.09 million received. An Extraordinary General Meeting to be
held 10 February 2025 to approve Tranche Two
· In December 2024, highly experienced geologist and mining executive
Julian Hanna was appointed Technical Director of Artemis, then Managing
Director on 24 January 2025, post period-end.
Commenting on the activities during the quarter, recently appointed Managing
Director Julian Hanna said:
"The December quarter was an important and productive period for Artemis, as
it built the foundation for an exciting drilling campaign which will initially
focus on the Carlow tenement and get underway soon.
During the quarter, the Carlow tenement continued to yield further high-grade
gold results from selected surface samples of vein and chert outcrops not only
at Titan, but also at the Thorpe prospect, 2km south of Carlow. While we don't
expect that the high gold grades seen in many of the surface samples will be
indicative of grades that may be intersected in drilling below these samples,
I think the results are very encouraging:
Firstly, they demonstrate that potential still exists for significant gold
discoveries within 2-3kms of our already substantial Carlow gold and copper
deposit. Secondly, when combined with recent detailed geological mapping and
structural interpretations, our geologists have been able to build a much
clearer understanding of the geology and potential of this well mineralised
area. The next step is to test several of the high priority targets with RC
and diamond drilling commencing in early February. The three targets to be
drilled in the initial phase have never been effectively tested.
As a result of the capital raising in late December, Artemis is now well
funded for the planned drilling around Carlow and progressing other promising
targets at the Karratha Gold Project. I am fortunate to be able to work with a
very experienced and committed technical and corporate team focused on
deploying these funds towards making discoveries, building the assets and
driving value for shareholders."
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to provide an activities report for the quarter ended 31 December
2024. During this period the Company reported further high grade surface gold
results, completed mapping and a re-interpretation of the Carlow Tenement,
finalised a capital raising for drilling and other exploration activities and
appointed a new Managing Director.
Karratha Gold Project - ARV 100%
On 10 October 2024, Artemis reported surface sampling results from its Titan
Prospect (Figure 1) which identified high grade gold and silver assays 1 .
Results from the second surface sampling program were completed at Titan and
included a number of samples from the initial campaign which previously
delivered over-limit assays.
1 Refer to ASX Announcement dated: 10 October 2024
Figure 1. Karratha Gold Project tenements showing current known prospects
The second sampling program at Titan consisted of 97 samples selected from
outcropping veins, subsurface veins and three float samples. Significant rock
chip assay results (>0.5g/t Au) are included in Table 1.
Sample No Easting Northing Au g/t Cu % Ag g/t Co ppm Zn %
24AR19-075* 505863 7699466 553.754 0.023 1,305 37.3 0.01
24AR19-068* 505860 7699470 223.056 0.022 1,195 70.3 0.012
24AR19-061* 505855 7699471 33.389 0.015 233 76.2 0.008
24AR19-032 504980 7699364 7.48 0.007 0.37 16 0.009
24AR19-047 505019 7699515 5.72 0.003 3.2 3.4 0.001
24AR19-030 505004 7699346 1.97 0.016 0.54 27.3 0.019
24AR19-040 504902 7699708 1.19 0.008 0.66 46.7 0.034
24AR19-005 505029 7699502 0.85 0.004 0.54 3.8 0.004
24AR19-007 505305 7699616 0.55 0.005 0.46 6.9 0.012
24AR19-069 507728 7699313 0.54 0.005 0.51 1.1 0.001
Table 1. Significant rock chip assay results from recent sampling
* Assay results for Au from FA with gravimetric finish, reported as the
average of triplicates.
Results from the initial Titan surface sampling program were reported on 15
and 16 August 2024. Due to the high gold content of some samples, the
analytical laboratory was unable to quantify actual gold values. These
over-limit assays have now been quantified and returned assay results which
are included in Table 2.
Sample_No Easting Northing kg0.02 GRAV_Assay 1_Au%* GRAV_Assay 2_Au%* GRAV_Assay 3_Au%* Average Au %* Au g/t Ag g/t
**24AR11-005 505860.00 7699470.00 0.17 68.90 70.74 68.13 69.26 692,579.50 3,000
24AR19-075 505863.00 7699466.00 0.27 55.43 54.92 55.77 55.38 553,754.90 1,305
**24AR11-008 505863.00 7699466.00 0.15 49.95 44.98 46.65 47.19 471,937.80 1,775
24AR19-068 505860.00 7699470.00 0.30 22.41 22.00 22.50 22.31 223,056.70 1,195
**24AR11-004 505855.00 7699471.00 0.32 4.48 4.49 4.56 4.51 45,103.70 344
24AR19-061 505855.00 7699471.00 0.27 3.10 3.15 3.77 3.34 33,389.90 233
**24AR11-002 505852.00 7699473.00 0.37 0.74 0.74 0.75 0.74 7,440.00 212
24AR19-032 504980.00 7699364.00 0.89 - - - - 7.50 0.37
24AR19-047 505019.00 7699515.00 1.32 - - - - 5.70 3.20
24AR19-030 505004.00 7699346.00 0.76 - - - - 2.00 0.54
24AR19-040 504902.00 7699708.00 1.96 - - - - 1.20 0.66
24AR19-005 505029.00 7699502.00 0.77 - - - - 0.90 0.54
24AR19-007 505305.00 7699616.00 0.57 - - - - 0.60 0.46
***24AR19-069 507728.00 7699313.00 2.13 - - - - 0.50 0.51
Table 2. Significant (>0.5g/t Au) gold results from rock chip samples
collected at the Titan prospect and include results previously reported as
over limit (i.e., >10,000g/t Au - refer ASX announcement 16th August 2024).
In November 2024, Artemis reported further encouraging surface sample results
from Thorpe prospect, 2km south of the Carlow deposit 2 . 52 samples were sent
for analysis for gold and other elements. Assay results >0.5g/t gold are
included in Table 3.
2 Refer to ASX Announcement dated: 28 November 2024
Sample_No Easting Northing Au_GPT Cu_% Agppm Coppm Znppm
24AR22-020 508407.0 7696627.0 45.8 3.7 38.6 469.0 47.0
24AR22-014 507735.0 7696860.0 12.0 1.1 3.7 201.0 1225.0
24AR22-006 508061.0 7696621.0 5.9 1.0 17.8 95.0 11.0
24AR22-031 507556.0 7696843.0 3.4 2.5 4.2 177.5 708.0
24AR22-026 508499.0 7696639.0 3.0 2.1 24.4 606.0 58.0
24AR22-045 508426.0 7696359.0 2.9 0.0 0.1 10.6 292.0
24AR22-025 508509.0 7696631.0 2.1 0.8 10.6 292.0 174.0
24AR22-009 507790.0 7696939.0 1.6 6.1 13.5 225.0 1400.0
24AR22-004 508034.0 7696620.0 1.4 0.8 21.0 169.0 13.0
24AR22-048 507808.0 7696923.0 1.2 2.8 2.2 133.0 971.0
24AR22-003 508030.0 7696618.0 1.1 1.6 200.0 98.5 6.0
24AR22-008 508459.0 7696615.0 0.9 0.4 8.6 8.5 210.0
24AR22-023 508296.0 7696622.0 0.8 0.7 22.6 55.0 62.0
24AR22-027 508448.0 7696645.0 0.8 0.2 6.2 69.3 35.0
24AR22-016 507818.0 7696912.0 0.8 6.2 5.6 317.0 2080.0
24AR22-022 508400.0 7696621.0 0.7 0.5 10.4 45.1 57.0
24AR22-015 507720.0 7696863.0 0.5 1.8 21.9 45.5 280.0
24AR22-021 508406.0 7696629.0 0.5 0.4 8.7 43.8 40.0
24AR22-011 507608.0 7696862.0 0.5 2.6 7.1 240.0 1370.0
24AR22-013 507574.0 7696875.0 0.4 10.3 69.4 135.0 110.0
Table 3 - Thorpe assay results >0.5 g/t Au and >1% Cu
High-grade gold, copper and silver assay results from the Thorpe prospect are
from selected samples of outcropping veins sampled along three interpreted
structures, each trending SW-NE and East-West for approximately 2km strike
length.
Figure 2. Carlow Tenement - gravity image showing selected gold assays from
surface rock chip samples and Titan gravity-low feature (blue). Shows Carlow
resource and Marillion EM target within interpreted 4km long northwest
trending prospective zone, in red dash outline.
As a result of encouraging surface gold results within the Carlow tenement
(Figure 2), combined with detailed geological mapping and the recent
geophysical and structural interpretation several high priority targets have
been identified for drilling. These occur within a wide prospective zone
centred around the Carlow deposit.
Post period-end, Artemis announced an initial phase of diamond and RC drilling
to test three high priority targets with drilling expected to commence in
early February 2025 3 . Despite proximity to Carlow, these three targets are
previously untested.
3 Refer to ASX Announcement dated: 28 January 2025
Summary of planned drilling on Carlow tenement - March quarter(3)
· The first diamond hole will test the Marillion Target, a large EM
conductor 500m east of Carlow resource and 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
Corporate
In December Artemis Resources announced the Company had received firm
commitments for a capital raising of A$4 million (before costs). The raise
received strong support from sophisticated and institutional investors 4 .
The first tranche of the raising has been completed, with Artemis issuing 287
million shares on 20 December 2024, with funds totalling $2.09m 5 .
The second tranche to raise $1,991,000 will see the Company issue 284,428,571
shares at $0.007 under Listing Rule 7.1 and is subject to shareholder approval
of additional capacity at an Extraordinary General Meeting (EGM).
Post period-end, a notice of meeting has been lodged and the EGM is scheduled
for 11am on the 10 February 2025 at Level 2, 10 Ord Street, West Perth WA
6005 6 .
The Company will also issue approximately 67,321,429 broker options with an
exercise price of $0.015 and expiry date of 2 years after issue.
Funds from the raising will be applied to drilling and further exploration at
the Company's Karratha Gold Project.
Post period-end, Artemis Resources announced the appointment of highly
experienced geologist and mining executive Julian Hanna as Managing
Director 7 .
This appointment follows his role as Senior Technical Advisor, where he was
pivotal in developing the Company's exploration strategy. Mr Hanna brings
decades of experience, having led successful exploration and mining companies
including Western Areas Ltd for 12 years and MOD Resources Ltd for 7 years,
which resulted in significant discoveries and long life mining operations.
4 Refer to ASX Announcement dated: 16 December 2024
5 Refer to ASX Announcement dated: 31 December 2024
6 Refer to ASX Announcement dated: 9 January 2025
7 Refer to ASX Announcement dated: 8 January 2025
This announcement was approved for release by the Board.
For further information contact Julian Hanna / Managing Director
Julian.hanna@artemisresources.com.au
(mailto:Julian.hanna@artemisresources.com.au)
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
Appendix 1
Schedule of tenement holdings at end of Q2 FY2025. All are in Western
Australia
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 West 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 owns the Radio Hill processing plant, located only 35km from
Karratha
· In December 2024, Artemis applied for a 340km2 exploration licence to
cover a large, interpreted intrusion ("Cassowary Intrusion(8)") 440km east of
Kalgoorlie. The intrusion is undrilled and target is potential IOCG-type
Cu/Au mineralisation
(8) Refer to ASX Announcement dated: 28 January 2025
Appendix 2 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 · Samples referred to in this report are obtained from selected rock
specific specialised industry standard measurement tools appropriate to the chip samples collected by Artemis during field reconnaissance . Samples are
minerals under investigation, such as down hole gamma sondes, or handheld XRF mainly collected from quartz iron oxide veins and chert outcrops.
instruments, etc). These examples should not be taken as limiting the broad
meaning of sampling. · Samples are collected from outcrops, subcrop and float and from
around historical mullock heaps and workings.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · Rock chip sample weight is approximately 0.2kg to 5.3kg
· Aspects of the determination of mineralisation that are Material to · The rock chip samples of the veins are irregularly spaced which is
the Public Report. considered appropriate for "regional-scale" reconnaissance-level gold
exploration.
· In cases where 'industry standard' work has been done this would be
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m · Rock chips samples are subject to bias and often unrepresentative for
samples from which 3 kg was pulverised to produce a 30 g charge for fire the typical widths and assay grades required for economic consideration. They
assay'). In other cases more explanation may be required, such as where there are by nature difficult to duplicate with any acceptable form of precision or
is coarse gold that has inherent sampling problems. Unusual commodities or accuracy.
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
· Samples were dispatched to ALS Global Laboratories in Perth for
analysis.
· Analysis included:
- Au-AA26 - Au 50g FA AA finish
- Au-PA01 - Determination of Gold by Photon Assay from the crushed
reject.
- Au-PA01p - Determination of Gold by Photon Assay on 500g
Pulverised Sample
- Au-PA21p - Determination of Ultra High-Grade Gold by Photon
Assay from the pulverized material.
- 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 · Not applicable, as no drilling was undertaken.
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-sampling bit or other type, ·
whether core is oriented and if so, by what method, etc).
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Not applicable as no drilling has been undertaken.
results assessed.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of
fine/coarse material.
Logging · Whether core and chip samples have been geologically and · Logging of rock chips are collected using Fulcrum App which has been
geotechnically logged to a level of detail to support appropriate Mineral set up for project geology requirements. Data recorded includes GPS location,
Resource estimation, mining studies and metallurgical studies. lithology, mineralisation, alteration, structure. All data is captured using
field note pad - Samsung Active-3. The level of logging detail is sufficient
· Whether logging is qualitative or quantitative in nature. Core (or for exploration reconnaissance purposes.
costean, channel, etc) photography.
· Alteration interpretation is preliminary and determined by field
· The total length and percentage of the relevant intersections logged. 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 · No sub sampling of rock chip samples has been undertaken as part of
taken. this program.
· If non-core, whether riffled, tube sampled, rotary split, etc and ·
whether sampled wet or dry.
· For all sample types, the nature, quality and appropriateness of the
sample preparation technique.
· Quality control procedures adopted for all sub-sampling stages to
maximise representivity of samples.
· Measures taken to ensure that the sampling is representative of the
insitu material collected, including for instance results for field
duplicate/second-half sampling.
· Whether sample sizes are appropriate to the grain size of the
material being sampled.
Quality of assay data and laboratory tests · The nature, quality and appropriateness of the assaying and · Rock chip samples were dispatched to ALS Global Laboratories in Perth
laboratory procedures used and whether the technique is considered partial or for analysis using their fire assay Au-AA26 or Photon Assay Au-PA01/PA01p (on
total. crush or pulverised material) & ME_MS61L (48 elements) for 49 elements
in total. The Laboratory was informed about samples containing visible gold.
· For geophysical tools, spectrometers, handheld XRF instruments, etc, A quartz wash was utilised during coarse crushing and pulverisation
the parameters used in determining the analysis including instrument make and preparation, and Photon analysis was initiated for these samples.
model, reading times, calibrations factors applied and their derivation, etc.
· The laboratory reported the use of standards and blanks as part of
· Nature of quality control procedures adopted (eg standards, blanks, the analyses for QA/QC.
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (ie lack of bias) and precision have been established. · No standards or blanks were submitted by the company.
Verification of sampling and assaying · The verification of significant intersections by either independent · Rock chip sample and geological information is recorded in the field
or alternative company personnel. with co-ordinates saved from in built tough book GPS and handheld GPS used in
the field.
· The use of twinned holes.
· All rock chip samples were inspected and described by Artemis
· Documentation of primary data, data entry procedures, data geologists in the field.
verification, data storage (physical and electronic) protocols.
· Field data is entered into Fulcrum App before being loaded into a
· Discuss any adjustment to assay data. 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. 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 · Sample points were determined by in built tough book GPS and hand
and down-hole surveys), trenches, mine workings and other locations used in held GPS which is considered appropriate for the reconnaissance nature of the
Mineral Resource estimation. sampling.
· Specification of the grid system used. · GPS error is approximately 1-5m for Easting & Northing and up to
10m for elevation (m)
· Quality and adequacy of topographic control.
· 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. · Not applicable due to the reconnaissance nature of the sampling.
· Whether the data spacing and distribution is sufficient to establish · No attempt has been made to demonstrate geological or grade
the degree of geological and grade continuity appropriate for the Mineral continuity between sample points.
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· No sample compositing is applied to samples.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · Samples were collected from predominantly outcropping in situ, &
possible structures and the extent to which this is known, considering the lessor subcrop and vein float material around historical workings and mullock
deposit type. heaps.
· 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. · Sample security is by way of chain of custody.
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 project tenement covers an area of 126km(2) and comprises
agreements or material issues with third parties such as joint ventures, granted tenement: E47/1746
partnerships, overriding royalties, native title interests, historical sites,
wilderness or national park and environmental settings. · All Artemis Project tenures are 100% owned by Artemis Resources
subsidiary company KML No 2 Pty Ltd E47/1746 & E47/1797 with the exception
· The security of the tenure held at the time of reporting along with of E47/3719 which is subject to a GreenTech Metals/Artemis Resources 51%/49%
any known impediments to obtaining a licence to operate in the area. Joint Venture
· The tenement is 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 structural controlled shear
zone lodes in Archean low grade metamorphic and accretionary terrains.
Implications for intrusion related mineralised systems is also being
considered.
Drill hole Information · A summary of all information material to the understanding of the · Not applicable as no drilling has been undertaken
exploration results including a tabulation of the following information for
all Material drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level - elevation above sea level in metres) of the
drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o 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, · 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 · Not applicable as surface sampling is reconnaissance in nature.
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 · 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.
Balanced reporting · Where comprehensive reporting of all Exploration Results is not · This announcement discusses the findings of recent reconnaissance
practicable, representative reporting of both low and high grades and/or 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, Legend Mining and
reported including (but not limited to): geological observations; geophysical Open Pit Mining
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.
Chapman
· Total of 19 drill holes completed at Chapman prospect for a
total 4,847.3m including 18 RC (4,673m) and 1 Diamond
drill hole (174.3m) - best intercept included 10m @ 3.4%
Cu & 1.75g/t Au & 24.65g/t Ag from 116m (GLC007). Results are
encouraging however considered preliminary in nature
Thorpe
· Total of 8 RC drill holes completed at Thorpe Prospect for a
total of 2,017m - best intercept included 6m @ 0.85% Cu
from 20m including 3.6% Cu & 2.33g/t Au from 23m
(LFC007). (Refer to ASX announcement 06 December
2021) Results are encouraging however considered
preliminary in nature
· Historic drill assay records have been located from Legend Mining
drilling including total 9 holes for a total of 304m
· Best intercepts included:
o 2m @ 3.6 g/t Au from 27m (CC14)
· Artemis Resources completed total of 4 RC drill holes completed
for a total of 506m.
· Best intercepts included:
o 9m @ 2.7% Cu, 16.3 g/t Ag, from 67m in LFRC002
o 3m @ 2.16% Cu, 1.22 g/t Au, 16.1 g/t Ag, from 160m in LFRC001
o 1m @ 4.6% Cu, 2.2 g/t Au, 27 g/t Ag, from 33m in LFRC003
o 1m @ 3.4 g/t Au from 32m in LFRC004
(refer to Artemis ASX announcement 11(th) February 2016)
· Sing Well - Sing Six Prospects • Total of 14 RC drill holes
completed for a total of 376m. Best intercept included 2m @ 0.97g/t Au from 9m
(SSRC007) (refer to ASX announcement 18th September 2020)
· 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 plans to conduct further ground reconnaissance and
extensions or depth extensions or large-scale step-out drilling). sampling to outline the size of the potential gold associated mineralised
envelop. This work will contribute to undertaking more advance assessments
· Diagrams clearly highlighting the areas of possible extensions, and eventual drill target ranking
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
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