For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240212:nRSL8095Ca&default-theme=true
RNS Number : 8095C Artemis Resources Limited 12 February 2024
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.
12(th) February 2024
WEST PILBARA EXPLORATION UPDATE
Highlights:
· Stratigraphic diamond holes indicate potential sub vertical
orientation of pegmatites at Kobe and Osborne. Drill hole #1 potentially
stopped short of Osborne target
· Maiden RC drilling program to test Osborne targets is planned for
March 2024 to test near surface lithium rich zone where access has now been
granted
· New outcrop sampling confirms significant mineralisation in western
extension of Osborne with rock chip sampling assays including;
o 2.36% Li(2)O, 32ppm Ta(2)O5 and 92 ppm Nb(2)O(5) (sample 23GT24-021)
o 1.64% Li(2)O, 3ppm Ta(2)O5 and 14 ppm Nb(2)O(5) (sample 23GT24-033)
o 1.22% Li(2)O, 45ppm Ta(2)O5 and 76 ppm Nb(2)O(5) (sample 23GT20-693)
o 1.15% Li(2)O, 38ppm Ta(2)O5 and 102 ppm Nb(2)O(5) (sample 23GT24-026)
· Mt Marie field exploration continues with further rock chip sampling
underway
· The Artemis lithium projects are within close proximity to Azure
Minerals (ASX: AZS) Andover Discovery
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to provide this update to shareholders on recent drill core and rock
chip sample results.
Executive Director George Ventouras commented: "The results from the
stratigraphic holes drilled on the Osborne JV tenement have provided valuable
information for the technical team to refine and develop further drill
programs. The geology has provided clear evidence as to the subterrain and
potential location of the pegmatites which will be followed up shortly.
Additionally, we are encouraged by the extension to the Osborne trend and look
forward to further ground reconnaissance in the same area. With the above and
our results from the Mt Marie lithium prospect, we are very excited for the
next few months of activity and news flow."
Figure 1. Artemis tenements in the West Pilbara
Stratigraphic holes are designed to test the geology of the subterranean
structure and to assist with the determination of follow up exploration. What
has been learnt from the initial diamond drill holes on the joint venture
tenement is that the pegmatite trends appear to be sub vertical and the
initial drill hole (23GTDD001) may have stopped short of the Osborne target.
These holes were drilled from sub-optimal locations due to having previously
approved heritage clearances. However, all relevant clearances for optimal
drilling locations have now been received and will be used for future drilling
programs.
Stratigraphic Diamond Drilling - Osborne and Kobe
Table 1. Details of Drill Holes
Drill Hole Id Easting Northing Azmith deg Dip deg EOHm Prospect
23GTDD001 493160 7691875 176 -40 810.2 South Zone
23GTDD002 493509 7691879 195 -50 279.2 South Zone
23GTDD004 488751 7693591 5 -45 207.3 Kobe
The initial holes were planned and programmed to achieve best geological
understanding and importantly, geometry of the structures that lay beneath the
surface. Once the geometrical orientation has been better identified, follow
up exploration and drilling can be better planned and be more relevant.
Figure 2. Significant Rock Chip Results (new results shown with red border) -
Southern Trend. Note: Drill hole 23GTDD001 did not completely test Osborne
Target
In the context of further exploration efforts, this new information is vital
and allows the technical team to design follow up drill holes with new
heritage clearances to better intersect this key area.
Figure 3. Osborne drill section with new potential pegmatite trend orientation
New rock chip sample results
Infill rock chip sampling along the western portion of the Osborne trend
provides further confirmation of the persistence of high grade Li(2)O with
highlight results as follows;
o 2.36% Li(2)O, 32ppm Ta(2)O5 and 92 ppm Nb(2)O(5) (sample 23GT24-021)
o 1.64% Li(2)O, 3ppm Ta(2)O5 and 14 ppm Nb(2)O(5) (sample 23GT24-033)
o 1.22% Li(2)O, 45ppm Ta(2)O5 and 76 ppm Nb(2)O(5) (sample 23GT20-693)
o 1.15% Li(2)O, 38ppm Ta(2)O5 and 102 ppm Nb(2)O(5) (sample 23GT24-026)
These results extend the Osborne mineralisation 600 metres further west for a
total strike length of 700 metres and remains open.
Forward Exploration Program
Field crews have been mobilised to site and are currently undertaking the
following exploration activities in the lead up to the maiden drilling
program:
· Mapping
· Infill soil sampling
· Rock chip sampling
· Diamond and RC (Reverse Circulation) Drilling
(1)ASX Announcement, Artemis Resources Ltd, 5 February 2024
Figure 4. Osborne JV tenement with Mt Marie prospect identified
The JV has approved programs of work (PoW's) and heritage clearances which
facilitate current and future drill programs on the project tenements. The JV
also aims to complete RC "scissor" drill holes at the Osborne trend as part of
the maiden RC drilling program.
Ground work will also continue at the Mt Marie prospect which is situated to
the north east of the Osborne JV. The initial rock chip sampling program
delivered encouraging results including rock chip assays of 1.82% Li(2)O and
1.62% Li(2)O(1). Further drone surveying and rock chip sampling is currently
underway and results will be reported in due course.
This announcement was approved for release by the Board.
Artemis Resources Ltd
George Ventouras, Executive Director george.ventouras@artemisresources.com.au
(mailto:george.ventouras@artemisresources.com.au)
WH Ireland Limited (Nomad & Broker)
Antonio Bossi / James Bavister Tel: +44 20 7220 1666
/ Isaac Hooper
About Artemis Resources
Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a gold, copper and
lithium focused resources company with projects in Western Australia. The Mt
Marie Lithium Prospect, the Osborne Lithium JV (Artemis 49%; GreenTech Metals
(ASX:GRE) 51%) and the Carlow Castle Gold/Copper/Cobalt project in the West
Pilbara; and the Paterson Central project in the Paterson Province (located
adjacent to Greatland Gold/Newcrest recent gold-copper discovery at Havieron).
Artemis also owns the Radio Hill processing plant, located only 35km from
Karratha.
For more information, please visit www.artemisresources.com.au
(http://www.artemisresources.com.au)
Competent Person's Statement
The information in this report that relates to exploration results was
prepared by Mr Adrian Hell, a Competent Person who is a member of the
Australasian Institute of Geoscientists (MAIG) and Australasian Institute of
Mining and Metallurgy (MAusIMM). Mr Hell is a technical consultant to Artemis
Resources. 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.
( )
( )
Appendix
Additional technical information included in this announcement has previously
been provided to the market in GRE releases dated:
15 June 2023 High Grade Lithium
Discovered at Ruth Well Project
15 June 2023 Appointment of
Lithium Advisors to Drive Exploration
29 June 2023 Greentech Metals
Lithium Corporate Update
7 July 2023 Further High
Grade Lithium Encountered at Ruth Well
10 July 2023 Lithium Bearing
Pegmatites Identified West Pilbara JV
24 July 2023 Further
High-Grade Lithium Assays Reported At Osborne JV
1 September 2023 Analysis Confirms Spodumene at
Osborne JV
5 September 2023 New Lithium Targets at Ruth Well
and Osborne JV
5 October 2023 Further High Grade Lithium
Assays at Osborne JV
30 October 2023 Further High Grade Rock Chip
Results Kobe
6 November 2023 Drilling Commences Osborne Joint
Venture Lithium project
29 November 2023 Maiden Diamond Drill Hole Completed
Osborne JV
21 December 2023 Diamond Drilling Completed West
Pilbara Lithium Project
JORC Code, 2012 Edition - Table 1 report template
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 Drill Core Sampling
specific specialised industry standard measurement tools appropriate to the
minerals under investigation, such as down hole gamma sondes, or handheld XRF · Sampling of the core is restricted to intervals of geologically
instruments, etc). These examples should not be taken as limiting the broad logged pegmatite.
meaning of sampling.
· Sampling quality is considered good due to 100% core recovery.
· Include reference to measures taken to ensure sample representivity
and the appropriate calibration of any measurement tools or systems used. · A 2m buffer of core was sampled on either side of the logged and
sampled pegmatite intervals
· Aspects of the determination of mineralisation that are Material to
the Public Report. · Sample intervals were variable but not exceeding 1m
· In cases where 'industry standard' work has been done this would be · The core was halved using an automated cutting diamond saw and
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m sampling were selected from one half of the core
samples from which 3 kg was pulverised to produce a 30 g charge for fire
assay'). In other cases more explanation may be required, such as where there · All of the pegmatite is sampled irrespective of the observation
is coarse gold that has inherent sampling problems. Unusual commodities or of possible lithium mineralisation (spodumene)
mineralisation types (eg submarine nodules) may warrant disclosure of detailed
information.
Rock Chip Sampling
· Reconnaissance style rock chip sampling taken opportunistically
from pegmatite outcrop.
· This announcement discusses the findings of a reconnaissance site
visit with a view to determining the lithium potential of the Company's
tenements and which included the collection of rock chip samples.
· Pegmatite was identified in outcrop.
· The rock chip samples were restricted to outcrop of pegmatite
rocks.
· Samples were dispatched to ALS Global Laboratories in Perth for
analysis.
Soil Sampling
· The soil samples were uniformly collected from 15cm, with colour,
moisture and general topography recorded.
· Samples were sent to ALS Global Laboratories in Perth for
analysis using their ME-MS89L 52 element technique
· : Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe,
Ga, Ge, Hf, Hg, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Pd, Pt, Rb, Re,
S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr
· Samples are pulverised to 95% passing 75 microns for maximum
digestion.
· Field duplicates were taken and submitted for analysis with the
soil samples.
Drilling techniques · Drill type (eg core, reverse circulation, open-hole hammer, rotary · Diamond Core Drilling was completed using a combination of standard
air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or HQ and NQ size drill bits.
standard tube, depth of diamond tails, face-sampling bit or other type,
whether core is oriented and if so, by what method, etc). · The core was orientated by the drilling company using an orientation
marking tool and logged by Greentech staff for both geological and
geotechnical attributes.
· This announcement relates to drilling carried out by Greentech Metals
Ltd .
· No mention is made in this announcement of exploration drilling
sample results conducted by other companies on nearby tenements.
Drill sample recovery · Method of recording and assessing core and chip sample recoveries and · Diamond drilling was contracted to be undertaken by Seismic Drilling
results assessed. and with subsequent core sampling and logging being undertaken by Greentech
Metals.
· Measures taken to maximise sample recovery and ensure representative
nature of the samples. · Laboratory results are available for all drill samples and are
discussed in this announcement.
· Whether a relationship exists between sample recovery and grade and
whether sample bias may have occurred due to preferential loss/gain of · The core is photographed, visually logged for lithology and
fine/coarse material. mineralogy and with geotechnical information recorded
· All data is recorded in a digital, tabulated format for database
storage and future recovery when required.
· Core recovery is 100% in all of the core sections sampled to date.
Logging · Whether core and chip samples have been geologically and · Drill core sample assay results are available and hence these are
geotechnically logged to a level of detail to support appropriate Mineral discussed in this announcement.
Resource estimation, mining studies and metallurgical studies.
· The core was orientated using an orientation marking tool and logged
· Whether logging is qualitative or quantitative in nature. Core (or for both geological and geotechnical attributes.
costean, channel, etc) photography.
· The logging and sampling is of a standard that could be used in
· The total length and percentage of the relevant intersections logged. support of a future Mineral Resource estimation
· The core was photographed prior to cutting and sampling
· All pegmatite intervals were logged and sampled
Sub-sampling techniques and sample preparation · If core, whether cut or sawn and whether quarter, half or all core · Sampling of drill core is completed
taken.
· Sampling of the core is restricted to intervals of geologically
· If non-core, whether riffled, tube sampled, rotary split, etc and identified and logged pegmatite.
whether sampled wet or dry.
· A 2m buffer of core was sampled on either side of the logged and
· For all sample types, the nature, quality and appropriateness of the sampled pegmatite intervals
sample preparation technique.
· Sample intervals were variable but not exceeding 1m and is considered
· Quality control procedures adopted for all sub-sampling stages to appropriate for sampling of pegmatite at this reconnaissance stage
maximise representivity of samples.
· The core was halved using an automated cutting diamond saw and
· Measures taken to ensure that the sampling is representative of the sampling were selected from one half of the core
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 · Sampling of drill core is completed
laboratory procedures used and whether the technique is considered partial or
total. · Samples were sent to ALS Global Laboratories in Perth for analysis
using their ME-MS89L 52 element technique
· For geophysical tools, spectrometers, handheld XRF instruments, etc,
the parameters used in determining the analysis including instrument make and · Sample standards are used in addition to those routinely applied by
model, reading times, calibrations factors applied and their derivation, etc. the laboratory
· Nature of quality control procedures adopted (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.
Verification of sampling and assaying · The verification of significant intersections by either independent · No results have been verified by independent means
or alternative company personnel.
· The use of twinned holes.
· Documentation of primary data, data entry procedures, data
verification, data storage (physical and electronic) protocols.
· Discuss any adjustment to assay data.
Location of data points · Accuracy and quality of surveys used to locate drill holes (collar · Drill collar locations are determined by hand held GPS which is
and down-hole surveys), trenches, mine workings and other locations used in considered appropriate for the reconnaissance nature of the drilling and
Mineral Resource estimation. associated sampling.
· Specification of the grid system used. · Down hole surveys are conducted on each drill hole by the drill
company
· Quality and adequacy of topographic control.
· Topography control is obtained from contoured satellite imagery
Data spacing and distribution · Data spacing for reporting of Exploration Results. · Not applicable as drill holes are exploratory in nature.
· Whether the data spacing and distribution is sufficient to establish
the degree of geological and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation procedure(s) and classifications applied.
· Whether sample compositing has been applied.
Orientation of data in relation to geological structure · Whether the orientation of sampling achieves unbiased sampling of · The drill holes are orientated approximately orthogonal to the
possible structures and the extent to which this is known, considering the pegmatite body being targeted with sampling to provide reasonably unbiased
deposit type. results.
· 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
(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 Ruth Well project tenements cover an area of 85km(2) and
agreements or material issues with third parties such as joint ventures, comprises granted tenements: 47/4387, E47/3341, E47/3719, P47/1929 and
partnerships, overriding royalties, native title interests, historical sites, P47/1998.
wilderness or national park and environmental settings.
· The tenements are owned 100% by GreenTech Metals subsidiary company
· The security of the tenure held at the time of reporting along with GreenTech Holdings Pty Ltd with the exception of tenement E47/3719 which is
any known impediments to obtaining a licence to operate in the area. subject to a Greentech Metals/Artemis Resources 51%/49% Joint Venture
· The tenements are in good standing with DMIRS and there are no known
impediments for exploration on these tenements.
Exploration done by other parties · Acknowledgment and appraisal of exploration by other parties. · Numerous exploration parties have held the area covered by the
current GreenTech tenure previously. There is no reported previous exploration
for lithium bearing pegmatites on the tenements.
· No other exploration companies generated data was used in this
release.
· Regional RTP aeromagnetics and geology from Geological Survey of WA.
· The area was previously explored by Fox Resources Ltd and Artemis
Resources Ltd with both focussed on nickel exploration.
Geology · Deposit type, geological setting and style of mineralisation. · The lithium bearing pegmatite zone trends WNW-ESE and is hosted by
strongly sheared sediments of the Regal Formation.
· The pegmatites occur as intermittent lenses in strongly sheared
sediments assigned to the Regal Formation and are located approximately 3km to
the north of the Sholl Shear Zone.
· The pegmatites are steeply dipping and up to 20m wide.
· The project area is underlain by the Archean Pilbara Craton,
specifically the West Pilbara Superterrane (WPST) of Hickman (2016). The
3280-3070 Ma WPST comprises numerous tectonostratigraphic packages (Sholl,
Regal and Karratha Terranes and the Whundo and Nickol River Basins) and
igneous complexes that have been variously affected by several tectonic
events. The easterly to east-north easterly trending Sholl Shear Zone (SSZ) is
a boundary for the regional rock packages. Metamorphic grade is higher to the
north of the SSZ, suggesting the present-day surface shows a slightly deeper
crustal level on the north side.
Drill hole Information · A summary of all information material to the understanding of the · Details of the drill holes discussed in this announcement is included
exploration results including a tabulation of the following information for in the announcement
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
maximum and/or minimum grade truncations (e.g. 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 (e.g. '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 associated assays.
widths should be practiced to avoid misleading reporting of Exploration
Results.
Other substantive exploration data · Other exploration data, if meaningful and material, should be · All the meaningful exploration data has been included in the body of
reported including (but not limited to): geological observations; geophysical this announcement.
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 (e.g. tests for lateral · GreenTech plans to conduct further ground reconnaissance and sampling
extensions or depth extensions or large-scale step-out drilling). in the short term to determine the surface extent both laterally and along
strike and also the economic potential of the prospect. Future drill programs
· Diagrams clearly highlighting the areas of possible extensions, are envisaged.
including the main geological interpretations and future drilling areas,
provided this information is not commercially sensitive.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
or visit
www.rns.com (http://www.rns.com/)
.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
. END DRLUUARRSVUUAAR