PLUS1
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Artemis Resources Limited | LSE:ARV | London | Ordinary Share | AU000000ARV3 | ORD NPV (DI) |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.0% | 0.75 | 0.70 | 0.80 | 0.75 | 0.75 | 0.75 | 0.00 | 01:00:00 |
| Industry Sector | Turnover (m) | Profit (m) | EPS - Basic | PE Ratio | Market Cap (m) |
|---|---|---|---|---|---|
| Mining | - | - | - | - | 10 |
Artemis Resources Limited Paterson Central Project Update
12/12/2022 7:00am
UK Regulatory (RNS & others)
Artemis Resources (LSE:ARV)
Historical Stock Chart
From Sep 2022 to Mar 2023
TIDMARV
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."
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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).
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
Figure 9 : Hole 22PTMRD011 from 749.85 - 750.07m showing typical quartz - carbonate matrix supported jigsaw breccia that is dominant in the hole.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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).
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
------------ ---------- ----- ----- -----------------
4.0m @ 0.41% Cu,
22PTMRD010 620m 624m 0.05g/t Au
1.0m @ 1.25% Cu,
22PTMRD010 Includes 623m 624m 0.15g/t Au
4.0m @ 0.27% Cu,
22PTMRD010 626m 630m 0.07g/t Au
1.0m @ 0.75% Cu,
22PTMRD010 Includes 626m 627m 0.18g/t Au
4.0m @ 0.97% Cu,
22PTMRD010 639m 643m 0.31g/t Au
1.0m @ 2.99% Cu,
22PTMRD010 Includes 639m 640m 0.39g/t Au
------------ ---------- ----- ----- -------------------
Intercepts >0.20 g/t
Au
Hole ID From To Intercept
------------ ----------- ----- ----- --------------------
1.0m @ 1.49g/t Au,
22PTMRD010 617m 618m 0.02% Cu
5.0m @ 0.31 g/t Au,
22PTMRD010 639m 644m 0.81 % Cu
1.0m @ 0.39 g/t Au,
Including 639m 640m 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
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
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
------------- --------- ------- --------------------
1.0m @ 0.22 g/t Au,
GDRCD006 1032 1033 0.07 % Cu
0.3m @ 3.08 g/t Au,
GDRCD006 1090.9 1091.1 0.01 % Cu
-------------- --------- ------- ----------------------
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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
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
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.
http://www.rns-pdf.londonstockexchange.com/rns/2918J_1-2022-12-11.pdf
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 or contact:
Artemis Resources Limited
Mark Potter Mark.Potter@artemisresources.com.au
or via Camarco
WH Ireland Limited (Nominated Adviser)
Antonio Bossi / Megan Liddell (Corporate Tel: +44 20 7220 1666
Finance)
Cenkos Securities (Broker)
Neil McDonald / Adam Rae / Pearl Kellie Tel: +44 20 7894 7000
(Corporate Finance) Tel: +44 20 7894 7000
Leif Powis (Corporate Broking)
Camarco (Financial PR)
Gordon Poole / Emily Hall / Rebecca Waterworth Email: artemis@camarco.co.uk
Table 4 : Hole Statistics
Total
Easting Northing Azim Depth
HoleID Type GDA94 GDA94 RL (m) Dip Mag (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
techniques * Nature and quality of sampling (eg cut channels, * Mud rotary drilling was used to drill the pre-collars
random chips, or specific specialised industry for the diamond tails. No samples were taken in the
standard measurement tools appropriate to the mud rotary interval.
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,
meaning of sampling. but no samples were taken.
* Include reference to measures taken to ensure sample * Drilling sampling techniques employed at the Artemis
representivity and the appropriate calibration of any core facility include saw cutting HQ and NQ drill
measurement tools or systems used. core samples.
* Aspects of the determination of mineralisation that * Core was cut in half, with one half sent for analysis
are Material to the Public Report. at an 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 samples * HQ and NQ wireline core was used to drill out the
from which 3 kg was pulverised to produce a 30 g geological sequences and identify zones of
charge for fire assay'). In other cases more mineralisation that may or may not be used in any
explanation may be required, such as where there is Mineral Resource estimations, mining studies or
coarse gold that has inherent sampling problems. metallurgical testwork.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information. * Diamond core was sampled on geological
intervals/contacts, with the 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
techniques * Drill type (eg core, reverse circulation, open-hole * Mud rotary and diamond drilling was completed by
hammer, rotary air blast, auger, Bangka, sonic, etc) Durock Drilling using a truck mounted DE840
and details (eg core diameter, triple or standard multipurpose rigs mounted on an 8x8 truck.
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 * Recoveries are recorded on logging sheets and are
sample recoveries and results assessed. also independently measured by drillers using drill
runs.
* Measures taken to maximise sample recovery and ensure
representative nature of the samples. * Due to the competent nature of the rocktype
encountered in the projects, diamond core recovery is
>90%
* Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse * Statistical analysis on recoveries vs grade at this
material. stage of the program is not necessary.
============================================================
Logging
* Whether core and chip samples have been geologically * Diamond core is placed into core trays at the drill
and geotechnically logged to a level of detail to site with all marking on the core with respect to
support appropriate Mineral Resource estimation, core block depths and orientation locations completed
mining studies and metallurgical studies. at site.
* Whether logging is qualitative or quantitative in * Core trays are labelled with tray numbers and from -
nature. Core (or costean, channel, etc) photography. to depths.
* The total length and percentage of the relevant * Core is transferred to a core logging facility where
intersections logged. it is processed for geological, structural,
geotechnical logging.
* The hole is logged in its entirety, hence 100% of the
core will be detailed logged.
--
Sub-sampling
techniques * If core, whether cut or sawn and whether quarter, * Core is marked up for sampling according to logging
and half or all core taken. sheets, using the orientation line as a guide. The
sample core cutting line is drawn 90 degrees clockwise from
preparation the orientation line, looking down the core
* If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
* Core is cut in half using an Almonte automatic core
saw.
* For all sample types, the nature, quality and
appropriateness of the sample preparation technique.
* One half is retained as a representative sample and
replaced in the core tray; the other half is placed
* Quality control procedures adopted for all into a pre-labelled sample bag, recorded and sent as
sub-sampling stages to maximise representivity of a batch to the laboratory for assaying.
samples.
* The same side of the core is always retained or sent
* Measures taken to ensure that the sampling is to the lab.
representative of the in-situ material collected,
including for instance results for field
duplicate/second-half sampling. * Sample sizes are appropriate to the grain sizes of
the material being sampled.
* Whether sample sizes are appropriate to the grain
size of the material being sampled.
============================================================
Quality of
assay * The nature, quality and appropriateness of the * A certified laboratory, ALS Chemex (Perth) was used
data and assaying and laboratory procedures used and whether for all analysis of drill samples submitted. The
laboratory the technique is considered partial or total. laboratory techniques below are for all samples
tests submitted to ALS and are considered appropriate for
the style of mineralisation defined within the
* For geophysical tools, spectrometers, handheld XRF Paterson Project area
instruments, etc, the parameters used in determining
the analysis including instrument make and model,
reading times, calibrations factors applied and their * The sample preparation followed industry best
derivation, etc. practice. Fire assay samples were dried, coarse
crushing to 10mm, split to 300g subsample, followed
by pulverisation in an LM5 or equivalent pulverising
* Nature of quality control procedures adopted (eg mill to a grind size of 85% passing 75 micron.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of 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 * Sampling was undertaken by field assistants
sampling and either independent or alternative company personnel. supervised by experienced geologists from Artemis
assaying Resources. Significant intercepts were checked by
senior personnel who confirmed them as prospective
* The use of twinned holes. for gold mineralisation.
* Documentation of primary data, data entry procedures, * No twin holes using RC was completed in this program.
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
* Discuss any adjustment to assay data. certified database management provider.
* 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 points * Accuracy and quality of surveys used to locate drill * A Garmin GPSMap62 hand-held GPS was used to define
holes (collar and down-hole surveys), trenches, mine the location of the initial drill hole collars.
workings and other locations used in Mineral Resource Standard practice is for the GPS to be left at the
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
* Quality and adequacy of topographic control. survey gyro-camera was 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
and * Data spacing for reporting of Exploration Results. * The holes in this program are deemed 'wild-cat' holes
distribution and as such are not drilled to any grid spacing, but
rather targeting geophysical targets at depth.
* Whether the data spacing and distribution is
sufficient to establish the degree of geological and
grade continuity appropriate for the Mineral Resource * No compositing will be applied.
and Ore Reserve estimation procedure(s) and
classifications applied.
* Whether sample compositing has been applied.
============================================================
Orientation
of data in * Whether the orientation of sampling achieves unbiased * Drill holes were designed to intersect geophysical
relation to sampling of possible structures and the extent to targets and hence orientations of structures and
geological which this is known, considering the deposit type. mineralisation are not known.
structure
* 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 * Not completed at this stage.
reviews * The results of any audits or reviews of sampling
techniques and data.
============= ============================================================ ================================================================
SECTION 2 REPORTING OF EXPLORATION RESULTS
(Criteria listed in the preceding section also apply to this section.)
Criteria Commentary
Mineral
tenement * Type, reference name/number, location and ownership * Drilling by Artemis was carried out on E45/5276 -
and land including agreements or material issues with third 100% owned by Artemis Resources Ltd.
tenure parties such as joint ventures, partnerships,
status overriding royalties, native title interests,
historical sites, wilderness or national park and * This tenement is in good standing, free of any
environmental settings. 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 * Acknowledgment and appraisal of exploration by other * Majority of the exploration for gold was completed by
parties parties. 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 * This program has yet to define the type and style of
mineralisation. 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 * Drill hole information is contained within this
understanding of the exploration results including a release.
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 * Not applicable
aggregation * In reporting Exploration Results, weighting averaging
methods techniques, 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 * These relationships are particularly important in the * Not Applicable
mineralisation reporting of Exploration Results.
widths and
intercept
lengths * 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 * Appropriate diagrams are shown in the text.
tabulations of 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 * Not Applicable
reporting * Where comprehensive reporting of all Exploration
Results is not practicable, representative reporting
of both low and high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other
substantive * Other exploration data, if meaningful and material, * Not Applicable
exploration should be reported including (but not limited to):
data 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 * Further work with regards to drilling is justified to
tests for lateral extensions or depth extensions or continue to test geophysical anomalies, based on
large-scale step-out drilling). 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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