28 November 2024
Artemis Resources Limited
("Artemis" or the "Company")
HIGH-GRADE gold & Copper assays AT THORPE PROSPECT
_______________________________________________________________________________
Highlights:
· rock chip sampling ASSAYS return grades of up to 45.8 g/t gold and 10.3% Copper AT THORPE PROSPECT
· SURFACE GOLD footprint of carlow tenement continues to increase
· Rock chip sampling of veins within two structures at Thorpe delivers high-grade gold, copper AND SILVER assay RESULTS, including:
Rock Chip Assay Results (Sample No)
o 45.8 g/t Au, 3.7% Cu & 38.6 g/t Ag (24AR22-020)
o 12 g/t Au, 1.1% Cu & 3.7 g/t Ag (24AR22-014)
o 5.9 g/t Au, 1.0% Cu & 17.8 g/t Ag (24AR22-006)
o 3.4 g/t Au, 2.5% Cu & 4.2 g/t Ag (24AR22-031)
o 3.0 g/t Au, 2.1% Cu & 24 g/t Ag (24AR22-026)
o 6.2% Cu, 0.8 g/t Au & 5.6 g/t Ag (24AR22-016)
o 6.1% Cu, 1.6 g/t Au & 13.5 g/t Ag (24AR22-009)
o 10.3% Cu, 0.4g/t Au & 69.4 g/t Ag (24AR22-013)
· PLANS FOR DRILL TESTING PRIORITY TARGETS WHICH INCLUDE AREAS OF HIGH GRADE GOLD, COPPER AND SILVER VEINS AT SURFACE, IS ADVANCED
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is pleased to provide an update on further exploration undertaken on the 100% owned Karratha Gold Project in the West Pilbara region of Western Australia.
The Company has undertaken further ground reconnaissance and rock chip sampling across the Carlow tenement, with the goal to map all outcropping mineralised veins and structures and define additional priority targets for drilling.
The current exploration strategy is to use industry best techniques including geochemical and geophysical surveys combined with structural interpretations to identify targets within what Artemis considers is a wide, highly prospective and underexplored structural corridor with potential to host substantial gold deposits.
Executive Director George Ventouras commented: "We are very excited that prospects located on the Carlow tenement continue to deliver further high-grade gold, copper and silver results from extensive veins at surface.
While several of these prospects have had minor drilling programs, the exploration team continues to compile data to identify the source of the widespread gold discovered at surface. Combined with the Titan prospect and other targets in the immediate Carlow area, the future looks very bright for the Karratha Gold Project."
Figure 1. Artemis West Pilbara tenements with current known prospects named
Thorpe Prospect
The Thorpe Prospect is located in the southeast part of the Carlow tenement, E47/1797. The recent ground reconnaissance program involved collecting additional rock chip samples at Thorpe to define the extent of the gold bearing veins and other structures. A small number of samples were also taken close to the Carlow deposit.
In total, 52 samples were sent to the laboratory for assaying for gold and other elements. Results included the following high-grade assays from the Thorpe Prospect;
o 45.8 g/t Au, 3.7% Cu & 38.6 g/t Ag (24AR22-020)
o 12 g/t Au, 1.1% Cu & 3.7 g/t Ag (24AR22-014)
o 5.9 g/t Au, 1.0% Cu & 17.8 g/t Ag (24AR22-006)
o 3.4 g/t Au, 2.5% Cu & 4.2 g/t Ag (24AR22-031)
o 3.0 g/t Au, 2.1% Cu & 24 g/t Ag (24AR22-026)
o 6.2% Cu, 0.8 g/t Au & 5.6 g/t Ag (24AR22-016)
o 6.1% Cu, 1.6 g/t Au & 13.5 g/t Ag (24AR22-009)
o 10.3% Cu, 0.4g/t Au & 69.4 g/t Ag (24AR22-013)
The high-grade gold, copper and silver assay results are from veins sampled along three interpreted structures, each trending SW-NE and East-West for approximately 2km strike length (refer to Figure 2). High-grade gold/copper zones have been defined along two of these structures over around 500m strike length. Mineralisation is associated with stockwork quartz-iron oxide veining within shear and fault structures ranging in width from centimetres up to approximately 12m. The associated country rock is predominantly altered basalt & dolerite.
Figure 2. Rock Chip sample locations of recent ground program
Table 1. Thorpe rock chip assay results >0.5 g/t Au and >1% Cu
Prior to the recent rock chip sampling program, Artemis conducted an initial sampling program on Thorpe in August 2024, with high grade results including;
· 6.1 g/t Au and 3.37% Cu (24AR07-192)
· 3.4 g/t Au and 3.88% Cu (24AR07-185)
· 2.2 g/t Au and 14.55% Cu (24AR07-183)
· 23.8% Cu and 0.5 g/t Au (24AR07-184)
A limited drilling program was conducted by Artemis in 2021 which produced some encouraging early results. A summary of the best intercepts are as follows:
· 1m @ 3.4 g/t Au from 32m (LFRC004)
· 3m @ 1% Cu and 6 g/t Ag from 79m (LFRC004)
· 1m @ 4.6% Cu and 2.2 g/t Au and 27 g/t Ag from 33m (LFRC003)
· 9m @ 2.7% Cu and 16.3 g/t Ag from 67m (LFRC002)
· 3m @ 2.16% Cu and 1.22 g/t Au from 160m (LFRC001)
As a result of the reconnaissance sampling programs on the Carlow tenement, widespread surface gold mineralised veins have been identified within a wide structural corridor centred around the district-scale Regal Thrust. Individual prospects and deposits including Carlow Castle, Titan, Europa, Marillion, Chapman, and Thorpe are interpreted to be related to this structural corridor and remain a strong focus.
Figure 3. Satellite image showing Interpreted alteration zones and rock chip samples >0.5 g/t Au extending 10km along the interpreted structural corridor from Sing Six Prospect to Carlow-Titan-Marillion-Thorpe target area
Figure 4. Thorpe Prospect - 3m wide quartz/iron oxide vein returning 45.8g/t Au & 3.7% Cu (sample22AR22-020)
Figure 5. Thorpe Prospect - 5m wide quartz & quartz/iron oxide veining returning 5.9g/t Au & 1% Cu (Sample 24AR22-014)
Figure 6. Thorpe Prospect - 1m wide quartz/iron oxide (with malachite) vein returning 12.0 g/t Au & 1.1% Cu (Sample 24AR22-014)
Next Steps
Artemis plans to commence drilling of key targets within the Carlow tenement starting early 2025, subject to heritage clearance and other regulatory requirements. The Company has commenced the process for surveys of areas not already cleared.
This announcement was approved for release by the Board.
| Artemis Resources Ltd | |
| Guy Robertson, Chairman George Ventouras, Executive Director | info@artemisresources.com.au
|
| | |
| Zeus Capital Limited (Nomad & Broker) | |
| Antonio Bossi / James Bavister / Isaac Hooper | Tel: +44 20 3829 5000 |
Competent Person Statement
The information in this report that relates to Exploration Results was prepared/compiled by Mr Adrian Hell BSc (Hons), a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hell is a technical consultant to Artemis Resources Ltd. Mr Hell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Hell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.
No New Information
To the extent that this announcement contains references to prior exploration results and Mineral Resource Estimates for the Carlow Gold/Copper Project which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.
ASX announcements referred to in this release;
Artemis Resources, Titan Prospect Results - Clarification Statement, 17 September 2024
Artemis Resources, High Grade Gold Vein Discovery at Titan Prospect Amended, 16 August 2024
Artemis Resources, High Grade Gold Vein Discovery at Titan Prospect, 15 August 2024
Artemis Resources, New Regional Discovery, 6 December 2021
Artemis Resources, Copper Hits of up to 4.6% confirm electro magnetic anomalies at Carlow Castle project in WA are mineralised, 11 February 2016
About Artemis Resources
Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a gold, copper and lithium focused resources company with projects in the West Pilbara region of Western Australia. The Company's main projects include;
· Karratha Gold Project including the Carlow Castle gold/copper project
· Karratha Lithium Project including the high-grade Mt Marie Lithium Prospect and the Osborne Lithium JV (Artemis 49%; GreenTech Metals (ASX:GRE 51%)
· Paterson Central Gold/Copper project in the Paterson Province (located adjacent to Greatland Gold's gold-copper discovery at Havieron and only ~42km from the Telfer gold mine)
· Artemis also owns the Radio Hill processing plant, located only 35km from Karratha
Artemis is focused on discovering multiple gold prospects within its +200km2 tenement package that can build upon the initial Mineral Resource at Carlow. The majority of the tenement package has been lightly explored and is now the subject of methodical exploration programs with a view to identify all gold zones, veins, structures and faults.
The Company will also continue to progress the Karratha Lithium project including the high-grade Mt Marie prospect and will look to advance this exciting project through further field work which will lead to drilling the most advanced targets in due course
Appendix 1. - Rock chip sample results from current program
| Prospect | Sample_No | Easting | Northing | Au_G/T | Cu_% | Agppm | Coppm | Znppm | Zn_% |
| Thorpe | 24AR22-020 | 508407.00 | 7696627.00 | 45.80 | 3.68 | 38.6 | 469 | 47 | 0.0047 |
| Thorpe | 24AR22-014 | 507735.00 | 7696860.00 | 11.95 | 1.055 | 3.7 | 201 | 1225 | 0.1225 |
| Thorpe | 24AR22-006 | 508061.00 | 7696621.00 | 5.86 | 0.954 | 17.75 | 95 | 11 | 0.0011 |
| Thorpe | 24AR22-031 | 507556.00 | 7696843.00 | 3.38 | 2.49 | 4.19 | 177.5 | 708 | 0.0708 |
| Thorpe | 24AR22-026 | 508499.00 | 7696639.00 | 2.95 | 2.14 | 24.4 | 606 | 58 | 0.0058 |
| Thorpe | 24AR22-045 | 508426.00 | 7696359.00 | 2.90 | 0.0004 | 0.07 | 0.5 | 1 | 0.0001 |
| Thorpe | 24AR22-025 | 508509.00 | 7696631.00 | 2.05 | 0.778 | 10.55 | 292 | 174 | 0.0174 |
| Thorpe | 24AR22-009 | 507790.00 | 7696939.00 | 1.64 | 6.09 | 13.5 | 225 | 1400 | 0.14 |
| Thorpe | 24AR22-004 | 508034.00 | 7696620.00 | 1.39 | 0.802 | 21 | 169 | 13 | 0.0013 |
| Thorpe | 24AR22-048 | 507808.00 | 7696923.00 | 1.18 | 2.83 | 2.21 | 133 | 971 | 0.0971 |
| Thorpe | 24AR22-003 | 508030.00 | 7696618.00 | 1.08 | 1.62 | 200 | 98.5 | 6 | 0.0006 |
| Thorpe | 24AR22-008 | 508459.00 | 7696615.00 | 0.89 | 0.447 | 8.63 | 8.5 | 210 | 0.021 |
| Thorpe | 24AR22-023 | 508296.00 | 7696622.00 | 0.84 | 0.73 | 22.6 | 55 | 62 | 0.0062 |
| Thorpe | 24AR22-027 | 508448.00 | 7696645.00 | 0.83 | 0.166 | 6.23 | 69.3 | 35 | 0.0035 |
| Thorpe | 24AR22-016 | 507818.00 | 7696912.00 | 0.75 | 6.21 | 5.58 | 317 | 2080 | 0.208 |
| Thorpe | 24AR22-022 | 508400.00 | 7696621.00 | 0.72 | 0.53 | 10.4 | 45.1 | 57 | 0.0057 |
| Thorpe | 24AR22-015 | 507720.00 | 7696863.00 | 0.71 | 1.805 | 21.9 | 45.5 | 280 | 0.028 |
| Thorpe | 24AR22-021 | 508406.00 | 7696629.00 | 0.53 | 0.416 | 8.72 | 43.8 | 40 | 0.004 |
| Thorpe | 24AR22-011 | 507608.00 | 7696862.00 | 0.51 | 2.55 | 7.13 | 240 | 1370 | 0.137 |
| Thorpe | 24AR22-013 | 507574.00 | 7696875.00 | 0.37 | 10.25 | 69.4 | 135 | 110 | 0.011 |
| Carlow | 24AR23-004 | 507897.00 | 7698509.00 | 0.34 | 2.69 | 1.83 | 314 | 333 | 0.0333 |
| Thorpe | 24AR22-005 | 508045.00 | 7696617.00 | 0.24 | 0.794 | 4.22 | 95.8 | 24 | 0.0024 |
| Thorpe | 24AR22-001 | 508031.00 | 7697043.00 | 0.13 | 0.891 | 12.4 | 17.3 | 23 | 0.0023 |
| Thorpe | 24AR22-017 | 508281.00 | 7696734.00 | 0.09 | 0.0772 | 0.1 | 14.2 | 55 | 0.0055 |
| Thorpe | 24AR22-002 | 508229.00 | 7697120.00 | 0.08 | 0.702 | 3.45 | 30.3 | 138 | 0.0138 |
| Thorpe | 24AR22-010 | 507618.00 | 7696865.00 | 0.06 | 0.177 | 0.25 | 48.3 | 92 | 0.0092 |
| Thorpe | 24AR22-037 | 507295.00 | 7696616.00 | 0.06 | 0.1075 | 0.17 | 14.8 | 38 | 0.0038 |
| Carlow | 24AR23-002 | 506444.00 | 7699094.00 | 0.06 | 0.0417 | 1.1 | 22.6 | 561 | 0.0561 |
| Carlow | 24AR23-001 | 506489.00 | 7699111.00 | 0.04 | 0.0251 | 0.24 | 9.8 | 113 | 0.0113 |
| Thorpe | 24AR22-028 | 508573.00 | 7696660.00 | 0.03 | 0.354 | 0.6 | 820 | 86 | 0.0086 |
| Thorpe | 24AR22-032 | 507536.00 | 7696818.00 | 0.03 | 0.0873 | 0.2 | 26.8 | 54 | 0.0054 |
| Thorpe | 24AR22-019 | 508422.00 | 7696630.00 | 0.03 | 0.0261 | 0.3 | 3.2 | 11 | 0.0011 |
| Carlow | 24AR23-003 | 506606.00 | 7699118.00 | 0.03 | 0.0252 | 0.13 | 12.5 | 154 | 0.0154 |
| Thorpe | 24AR22-012 | 507607.00 | 7696863.00 | 0.02 | 0.0851 | 0.16 | 17 | 36 | 0.0036 |
| Thorpe | 24AR22-018 | 508465.00 | 7696669.00 | 0.02 | 0.0255 | 0.24 | 4.6 | 10 | 0.001 |
| Thorpe | 24AR22-029 | 508540.00 | 7696647.00 | 0.01 | 0.487 | 4.44 | 948 | 42 | 0.0042 |
| Thorpe | 24AR22-042 | 507843.00 | 7696303.00 | 0.01 | 0.216 | 0.8 | 36.3 | 28 | 0.0028 |
| Thorpe | 24AR22-038 | 507126.00 | 7696425.00 | 0.01 | 0.0164 | 0.82 | 12.6 | 12 | 0.0012 |
| Thorpe | 24AR22-033 | 507262.00 | 7696758.00 | 0.01 | 0.01 | 0.04 | 17.2 | 12 | 0.0012 |
| Thorpe | 24AR22-035 | 507467.00 | 7696566.00 | 0.01 | 0.007 | 0.16 | 15.1 | 28 | 0.0028 |
| Thorpe | 24AR22-030 | 508614.00 | 7696395.00 | 0.01 | 0.0036 | 0.07 | 4.9 | 5 | 0.0005 |
| Thorpe | 24AR22-046 | 508508.00 | 7696378.00 | 0.01 | 0.0025 | 0.01 | 0.6 | 4 | 0.0004 |
| Thorpe | 24AR22-007 | 508023.00 | 7696620.00 | 0.01 | 0.023 | 0.29 | 1 | 2 | 0.0002 |
| Thorpe | 24AR22-024 | 507504.00 | 7696780.00 | 0.01 | 0.0084 | 0.09 | 6.2 | 39 | 0.0039 |
| Thorpe | 24AR22-036 | 507391.00 | 7696513.00 | 0.01 | 0.0053 | 0.05 | 1.4 | 5 | 0.0005 |
| Thorpe | 24AR22-040 | 508199.00 | 7696409.00 | 0.01 | 0.0017 | 0.02 | 7.9 | 9 | 0.0009 |
| Thorpe | 24AR22-041 | 508102.00 | 7696380.00 | 0.01 | 0.0016 | 0.01 | 3.2 | 9 | 0.0009 |
| Thorpe | 24AR22-034 | 507295.00 | 7696615.00 | 0.01 | 0.0011 | 0.01 | 11.6 | 26 | 0.0026 |
| Thorpe | 24AR22-044 | 508257.00 | 7696336.00 | 0.01 | 0.001 | 0.02 | 0.8 | 1 | 0.0001 |
| Thorpe | 24AR22-043 | 507891.00 | 7696442.00 | 0.01 | 0.0007 | 0.01 | 2.9 | 7 | 0.0007 |
| Thorpe | 24AR22-039 | 507467.00 | 7696567.00 | 0.01 | 0.0006 | 0.02 | 0.9 | 4 | 0.0004 |
| Thorpe | 24AR22-047 | 508375.00 | 7696484.00 | 0.01 | 0.0005 | 0.01 | 1.6 | 6 | 0.0006 |
Appendix 1 JORC Table
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
| Criteria | JORC Code explanation | Commentary |
| Sampling techniques | · Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. · Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. · Aspects of the determination of mineralisation that are Material to the Public Report. · 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 from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. | · Samples referred to in this report are obtained from in-situ rock chip samples collected by Artemis Resources during field reconnaissance exercises. Samples are primarily collected from quartz iron oxide vein material. · Samples are collected from in-situ, subcrop and float around historical mullock heaps and workings. · Rock chip sample weight is approximately 0.4kg to 3.4kg · The rock chip samples of the veins are irregularly spaced which is considered appropriate for "regional-scale" reconnaissance-level gold exploration. · Rock chips samples are subject to bias and often unrepresentative for the typical widths and assay grades required for economic consideration. They are by nature difficult to duplicate with any acceptable form of precision or accuracy.
· Samples were dispatched to ALS Global Laboratories in Perth for analysis. · Analysis included: - Au-AA26 - Au 50g FA AA finish - ME-MS61 - 48 elements Ultra-Trace Four-Acid Digestion with ICP MS and ICP-AES - ME-OG62- default overlimit method triggered for Ag, Co, Cu, Zn - Ore Grade Elements by Four Acid Digestion Using Conventional ICP-AES Analysis;
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| Drilling techniques | · Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). | · Not applicable, as no drilling was undertaken. · |
| Drill sample recovery | · Method of recording and assessing core and chip sample recoveries and results assessed. · Measures taken to maximise sample recovery and ensure representative nature of the samples. · Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. | · Not applicable as no drilling has been undertaken.
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| Logging | · Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. · Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. · The total length and percentage of the relevant intersections logged. | · Logging of rock chips are collected using Fulcrum App which has been set up for project geology requirements. Data recorded includes GPS location, lithology, mineralisation, alteration, structure. All data is captured using field note pad - Samsung Active-3. The level of logging detail is sufficient for exploration reconnaissance purposes. · Alteration interpretation is preliminary and determined by field observation and correlated using QGIS workflows. Further validation is determined using multi-element analysis in IOGAS workflows · Structural interpretation is preliminary based on limited field structural recordings integrated with airborne magnetic and gravity interpretations. This work remains ongoing.
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| Sub-sampling techniques and sample preparation | · If core, whether cut or sawn and whether quarter, half or all core taken. · If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. · For all sample types, the nature, quality and appropriateness of the sample preparation technique. · Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. · Measures taken to ensure that the sampling is representative of the insitu material collected, including for instance results for field duplicate/second-half sampling. · Whether sample sizes are appropriate to the grain size of the material being sampled. | · No sub sampling of rock chip samples has been undertaken as part of this program. · |
| Quality of assay data and laboratory tests | · The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. · For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. · Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. | · Rock chip samples were dispatched to ALS Global Laboratories in Perth for analysis using their fire assay Au-AA26 (1 element) & ME_MS61L (48 elements)for 49 elements in total. No samples reported with visible gold · The laboratory reported the use of standards and blanks as part of the analyses for QA/QC. · No standards or blanks were submitted by the company.
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| Verification of sampling and assaying | · The verification of significant intersections by either independent or alternative company personnel. · The use of twinned holes. · Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. · Discuss any adjustment to assay data. | · Rock chip sample and geological information is recorded in the field with co-ordinates saved from in built tough book GPS and handheld GPS used in the field. · All rock chip samples were inspected and described by Artemis geologists in the field. · Field data is entered into Fulcrum App before being loaded into a database. · All data has been maintained, validated, and managed by administrative geologist. · Analytical results received from the lab have been loaded directly into the database with no manual transcription of these results undertaken, · Original lab certificates have been stored electronically. Below detection limit data presented as 1/2 of the lower detection limit of the method and over the detection limit results presented as the upper detection limit of the method |
| Location of data points | · Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. · Specification of the grid system used. · Quality and adequacy of topographic control. | · Sample points were determined by in built tough book GPS and hand held GPS which is considered appropriate for the reconnaissance nature of the sampling. · GPS error is approximately 1-5m for Easting & Northing and up to 10m for elevation (m) · All sample location coordinates are provided in the Geocentric Datum of Australia (GDA94 Zone 50).
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| Data spacing and distribution | · Data spacing for reporting of Exploration Results. · Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. · Whether sample compositing has been applied. | · Not applicable due to the reconnaissance nature of the sampling. · No attempt has been made to demonstrate geological or grade continuity between sample points. · No sample compositing is applied to samples.
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| Orientation of data in relation to geological structure | · Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. · 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. | · Samples were collected from predominantly outcropping in situ, & lessor subcrop and vein floatmaterial around historical workings and mullock heaps.
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| Sample security | · The measures taken to ensure sample security. | · Sample security is by way of chain of custody.
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| Audits or reviews | · The results of any audits or reviews of sampling techniques and data. | · No review of the sampling techniques has been undertaken.
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Section 2 Reporting of Exploration Results - revised
(Criteria listed in the preceding section also apply to this section.)
| Criteria | JORC Code explanation | Commentary |
| Mineral tenement and land tenure status | · Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. · 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. | · The project tenement covers an area of 126km2 and comprises granted tenement: E47/1746 · All Artemis Project tenures are 100% owned by Artemis Resources subsidiary company KML No 2 Pty Ltd E47/1746 & E47/1797 with the exception of E47/3719 which is subject to a GreenTech Metals/Artemis Resources 51%/49% Joint Venture · The tenement is in good standing with DEMIRS and there are no known impediments for exploration on these tenements. |
| Exploration done by other parties | · Acknowledgment and appraisal of exploration by other parties. | · Previous explorers in the region include but not limited to are Westfield Minerals, Consolidated Gold Areas, Open Pit Mining and Exploration, Legend Mining, Agip Exploration, Titan Resources and Fox Resources. |
| Geology | · Deposit type, geological setting and style of mineralisation. | · Surface mineralisation is consistent with structural controlled shear zone lodes in Archean low grade metamorphic and accretionary terrains. Implications for intrusion related mineralised systems is also being considered. |
| Drill hole Information | · A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level - elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. · If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. | · Not applicable as no drilling has been undertaken |
| Data aggregation methods | · In reporting Exploration Results, weighting averaging 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. | · Not applicable as no data aggregation has been used. |
| Relationship between mineralisation widths and intercept lengths | · These relationships are particularly important in the reporting of Exploration Results. · If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. · If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known'). | · Not applicable as surface sampling is reconnaissance in nature. |
| Diagrams | · Appropriate maps and sections (with scales) and 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. | · All the appropriate maps are provided in the body of this announcement. |
| Balanced 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. | · This announcement discusses the findings of recent reconnaissance sampling and field mapping observations. |
| Other substantive exploration data | · Other exploration data, if meaningful and material, should be reported including (but not limited to): 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. | · Previous Drilling completed by Artemis Resources, Legend Mining and Open Pit Mining
Thorpe (formerly little Fortune) Prospect · Historic drill assay records have been located from Legend Mining drilling including total 9 holes for a total of 304m · Best intercepts included: o 2m @ 3.6 g/t Au from 27m (CC14)
· Artemis Resources completed total of 4 RC drill holes completed for a total of 506m. · Best intercepts included: o 9m @ 2.7% Cu, 16.3 g/t Ag, from 67m in LFRC002 o 3m @ 2.16% Cu, 1.22 g/t Au, 16.1 g/t Ag, from 160m in LFRC001 o 1m @ 4.6% Cu, 2.2 g/t Au, 27 g/t Ag, from 33m in LFRC003 o 1m @ 3.4 g/t Au from 32m in LFRC004 · (refer to Artemis ASX announcement 11th February 2016 · Geochemical sampling and geological mapping were completed by Artemis Resources and reported to the ASX on 5th November 2018. · Validation & compilation of historic data is ongoing.
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| Further work | · The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). · Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. | · Artemis Resources plans to conduct further ground reconnaissance and sampling to outline the size of the potential gold associated mineralised envelop. This work will contribute to undertaking more advance assessments and eventual drill target ranking |
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