TIDMARV
RNS Number : 2235G
Artemis Resources Limited
14 November 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 .
14 November 2022
Artemis Resources Limited
("Artemis" or the "Company")
(ASX/AIM: ARV, FRA: ATY, US: ARTTF)
Greater Carlow Regional Growth Plan
Artemis Resources Limited is pleased to announce the first
results of regional target generation across its 220sqkm, 100%
owned tenement package.
Highlights
-- Two high priority, untested gold and copper targets called
Marillion and Europa have been identified by the Company's
Exploration Team and are being evaluated for drill testing in early
2023 (Figure 1).
-- Over the past 18 months the Company has focused on resource
and near resource activities at Greater Carlow and as such, there
has been limited systematic exploration of the Company's 220sqkm
tenement package. (Figure 2).
-- Following the recent publication of a new high-grade Inferred
Mineral Resource of 704,000k oz Au Eq at 2.5 g/t Au eq at Greater
Carlow (refer Appendix 1 and ASX Announcement dated 13 October
2022), identification of potential new targets to test on Artemis'
100% owned regional tenement packages is now underway.
-- A follow-up exploration programme for the Chapman Cu-Ni-Au
Prospect is also being considered by the Exploration Team.
-- The 2023 work plan for the Greater Carlow Project will
comprise two parts: Regional Growth and Resource Growth. Presented
today are the early highlights of the Regional Growth Strategy.
http://www.rns-pdf.londonstockexchange.com/rns/2235G_1-2022-11-13.pdf
Figure 1: Greater Carlow high-priority regional targets
Alastair Clayton, Executive Director commented; "Over the last
12 to 18 months our focus has been the delivery of a new,
high-grade resource at Greater Carlow and as such the regional
potential across our 220sqkm has remained largely tapped.
Marillion and Europa are the highest priority greenfield targets
developed thus far. A combination of new and existing databases
were used to generate these targets and both targets have never
been drilled.
We believe success on either of these targets could have the
potential to substantially increase the overall size of resources
available to the Greater Carlow Project. "
http://www.rns-pdf.londonstockexchange.com/rns/2235G_1-2022-11-13.pdf
Figure 2: Artemis West Pilbara tenements
Marillion Target
First identified in July 2022 as part of a moving loop
electromagnetics ("MLTEM") programme, Marillion is located
approximately 500m to the East of the Greater Carlow resource. A
follow-up down hole electromagnetic ("DHEM") survey was then
completed.
In October 2022 a fixed loop electromagnetic ("FLTEM") survey
was completed and identified a highly significant, >11,000s
conductance with an area size of 500 to 600m in strike and 250 to
350m down dip extent, see Figure 3 and 4.
http://www.rns-pdf.londonstockexchange.com/rns/2235G_1-2022-11-13.pdf
Figure 3 : Plan view of the current Carlow resource in optimised
pit shell and the location of the Marillion 11,000S FLTEM
geophysical plates. Note the scale of the plates in relation to the
length of the eastern block model of Carlow.
11,000s of conductance is considered to be a regionally
exceptional tenor. Depth to the top of the anomaly is modelled at
between 350 to 450m and the anomaly dips at 40deg to the
south-southwest.
Also of note is the potential relationship between the Marillion
Target and the eastern portion of the Greater Carlow resource and
the Carlow Keel Zone. Spatially there is approximately 350m
distance between the two areas.
A RC and diamond drill programme is being developed for
execution in early 2023.
http://www.rns-pdf.londonstockexchange.com/rns/2235G_1-2022-11-13.pdf
Figure 4 : 3D oblique view looking west showing the Carlow
resource and spatial location of the Marillion 'plates'
Europa Target
The Europa Target is located approximately 1.75km west of the
Greater Carlow resource and is a coincident gravity and magnetic
anomaly within a structurally bound segment of the Roebourne
Complex. This is the same geological setting that hosts the Greater
Carlow resource (Figure 5).
Europa will be covered by the large regional Ultra Fine Fraction
("UFF") sampling programme that is already underway. Despite
showing no anomalism in the historic 2018 ionic leach database it
is believed that geologically recent local drainage is the likely
explanation.
Europa will be subject to an early 2023 heritage survey and
prepared for a MLTEM survey and aircore drilling shortly thereafter
should results of the UFF programme prove positive.
http://www.rns-pdf.londonstockexchange.com/rns/2235G_1-2022-11-13.pdf
Figure 5: Plan view of gravity and magnetics showing proximity
to Carlow Resource area (white).
This announcement was approved for release by the Board.
For further information, please contact:
Artemis Resources Limited via Camarco
Alastair Clayton
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 (Public Relations) Tel : +44 20 3781 9244
Gordon Poole / Emily Hall / Rebecca Email: artemis@camarco.co.uk
Waterworth
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.
For more information, please visit
www.artemisresources.com.au
Appendix 1 - Inferred Mineral Resource Table
Table 1. Greater Carlow Inferred Mineral Resources by assumed
mining method reported above a cut-off of 0.7 g/t Au Eq. within an
optimised open pit shell and above a 2 g/t Au Eq. cut-off for
underground using MSO shapes (current as at 13 October 2022). The
entire resource is classified as an Inferred Mineral Resource in
accordance with The JORC Code, 2012. All tonnes are dry metric
tonnes. Figures may not compute due to rounding. Refer announcement
dated 13 November 2022 for full details.
OP or Au Eq. cut-off Tonnes Au Eq. Au Cu Co Au Cu Co
UG (g/t) (Mt) (g/t) (g/t) (%) (%) (oz) (t) (t)
Open pit 0.7 7.25 2.4 1.3 0.73 0.09 296,000 53,000 6,500
--------------- ------- ------- ------- ----- ----- -------- ------- ------
Underground 2.0 1.49 3.1 1.6 0.72 0.12 78,000 11,000 1,800
--------------- ------- ------- ------- ----- ----- -------- ------- ------
Total - 8.74 2.5 1.3 0.73 0.09 374,000 64,000 8,000
--------------- ------- ------- ------- ----- ----- -------- ------- ------
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 Geoscientists. 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.
The information in this announcement that relates to Mineral
Resources is based on information compiled by Ms Janice Graham,
MAusIMM MAIG, and Dr Simon Dominy, FAusIMM(CPGeo) FAIG(RPGeo)
FGS(CGeol). Ms Graham is a full-time Principal Consultant of
Snowden Optiro. Dr Dominy is a Non-Executive Director of Artemis
Resources Ltd. Ms Graham and Dr Dominy have sufficient experience
relevant to the styles of mineralisation and type of deposits under
consideration and to the activity being undertaken to individually
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". Ms Graham and Dr Dominy consent to the
inclusion in the report of the matters based on this information in
the form and context in which it appears.
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