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Artemis Resources Limited Paterson Central Project Update

12/12/2022 7:00am

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RNS Number : 2918J

Artemis Resources Limited

12 December 2022

This announcement contains inside information for the purposes of Article 7 of the UK version of Regulation (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

Artemis Resources Limited

("Artemis" or the "Company")


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.


-- 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."

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).

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.

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.


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.

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 
 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% 
 Hole ID          From   To       Intercept 
-------------    -----  ---      -------------------------- 
 22PTMRD011                      All Copper Assays Pending

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.

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.

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.

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.

Figure 9 : Hole 22PTMRD011 from 749.85 - 750.07m showing typical quartz - carbonate matrix supported jigsaw breccia that is dominant in the hole.

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.

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).

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% 
 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 
 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

Figure 13 : Hole 22PTMRD010 at 639.3 - 639.6m showing brecciated veining with chalcopyrite and pyrite mineralisation.

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 
 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 
--------------  ---------  -------  ----------------------

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.

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.

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.

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 or contact:

 Artemis Resources Limited 
  Mark Potter                              
                                                    or via Camarco 
 WH Ireland Limited (Nominated Adviser) 
 Antonio Bossi / Megan Liddell (Corporate         Tel: +44 20 7220 1666 
 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: 

Table 4 : Hole Statistics

                       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


(Criteria in this section apply to all succeeding sections.)

 Criteria                                                                      Commentary 
  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. 
  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 
                 *    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 
                 *    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. 
                  *    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. 
  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 
                  *    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. 
                                                                                *    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. 
 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. 
  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. 
                 *    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. 
 security         *    The measures taken to ensure sample security.            *    The chain of custody is managed by the supervising 
                                                                                *    Core trays are stacked on pallets at site 8 trays 
                                                                                     high and strapped. 
                                                                                *    Drillers transport pallets off-site to ARV logging 
 Audits or                                                                    *    Not completed at this stage. 
  reviews         *    The results of any audits or reviews of sampling 
                       techniques and data. 
=============  ============================================================  ================================================================ 


(Criteria listed in the preceding section also apply to this section.)

 Criteria                                                                         Commentary 
 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. 
  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 
                                                                                 *    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. 
                    *    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 
                                                                                 *    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. 
 between           *    These relationships are particularly important in the     *    Not Applicable 
 mineralisation         reporting of Exploration Results. 
 widths and 
 lengths           *    If the geometry of the mineralisation with respect to 
                        the drill hole angle is known, its nature should be 
                   *    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'). 
                    *    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 
 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. 
 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.,, 2021.Havieron Gold-Copper Deposit: Next Generation of Undercover Discoveries. NewGenGold Conference Proceedings 2021, p.145 - 159

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