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ARTEMIS RESOURCES LIMITED - Corporate Spotlight

Artemis Resources Limited is a Perth-based exploration and development company, led by an... Artemis Resources Limited is a Perth-based exploration and development company, led by an experienced management team that has a singular focus on delivering shareholder value from its Pilbara gold projects - the Greater Carlow gold development project in the West Pilbara and the Paterson Central gold-copper exploration project in the East Pilbara.More

Corporate Spotlight

Artemis Resources Limited is a Perth-based exploration and development company, led by an experienced management team that has a singular focus on delivering shareholder value from its Pilbara gold projects - the Greater Carlow project in the West Pilbara and the Paterson Central project.
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Interview w/ Alastair Clayton, Executive Director

DRILLING UNDERWAY AT MUNNI MUNNI PROJECT

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DRILLING UNDERWAY AT MUNNI MUNNI PGE PROJECT

ASX Release 18th June 2020


HIGHLIGHTS

13 hole, 1,820m RC drilling program has commenced at Munni Munni. 


The program is designed to:

  • Extend primary reef mineralisation and test historical assay grades from diamond drilling using RC drilling.

  • Test for the presence of a second reef below the primary PGE reef.

  • Generate data that may contribute to a JORC 2012 Mineral Resource Estimate in the future.

  • High resolution air-photography to provide detailed images for future project planning purposes.

  • Detailed survey of the holes drilled in this program will be completed plus re-survey of approximately 10% (20 holes) of historical holes to validate hole data assisting in JORC 2012 Mineral Resource Estimate.

  • Proposed transaction announced 28 April 2020 (“Empire Transaction”) is still in progress and current and future project parties are working constructively towards concluding some of the key Conditions Precedent.


Artemis’s Executive Director Alastair Clayton, commented:

“It is terrific to be back exploring at the Munni Munni PGE Project. Drilling using an RC rig is designed to grow the footprint of the known reef-style PGE mineralisation and test for, what our technical team believes, may be a second reef below and sub- parallel to the primary reef.


Whilst the previously announced Empire Transaction regarding the proposed sale of 51% of the Company’s 70% beneficial interest in the Munni Munni PGE Project Joint Venture (to be effected through the sale of a 72.9% shareholding interest in theCompany’s wholly owned subsidiary Munni Munni Pty Ltd (“MMPL”)) has yet to close, we and our 30% partner in the Munni Munni PGE Project Joint Venture, ASX-listed Platina Resources (PGE.AX) Limited (“Platina”) believe it is imperative to keep theProject moving forward with the stated aim of generating a JORC 2012 resource as soon as practicable. Our prospective partners in the Empire Transaction are also supportive of this programme.”


“Artemis, through the proposed Empire Transaction, would retain both direct and indirect exposure to the Munni Munni PGE Project via becoming the single largest shareholder in Empire Metals Limited (“LON:EEE”) for its 58.6% in MMPL, which will continue to hold a 70% interest in the Munni Munni PGE Project, and retain a 27.1% shareholding in MMPL, free carried to completion of a Bankable Feasibility Study.”


We are continuing to work constructively with all parties towards the formation of a new Joint Venture Agreement, which is one of the key conditions precedent to consummating the proposed Empire Transaction. I’d like to thank all parties for their cooperation in this complex process.


“As soon as this exploration programme is complete, Artemis field crews will then move immediately to join an aircore rig at Carlow West to kick off a 5,000m programme.”


Artemis Resources Limited (ASX: ARV) , is a Western Australian Gold explorer focused on their 100% owned Greater Carlow and Paterson Central Project Pilbara Gold and Copper projects, is pleased to provide this update on the Munni Munni PGE Project.


RC drilling of 13 drill holes for 1,820m has been designed around the resource area to test depth extensions and to undertake DHEM, which will test the electromagnetic (EM) signature of the ore zone. The EM signature will assist with identifying potential downdip extensions and parallel lode systems within and around the current resource area.


The 13 new RC drill holes are spread through the entire block model generated from previous work and southwards onto the adjoining tenements. These holes are planned to show downdip continuity and consistency of grades and close testing of previous holes in a pseudo-twinning position. True twin holes will not be possible given the previous collar is not visible to enable safe placement of the twin hole.


Two holes are being drilled to test strong VTEM responses presumed to be from the contact zone between the Fortescue Group and the Munni Munni Complex, this zone was ignored in all historic drilling as “overburden”. Holes are being placed on pre-existing pads to minimise disturbance, spread along 900m of strike length with multiple holes are being drilled from several pads (see Figure 1).


Figure 1: Munni Munni PGE Project with tenement boundaries, access tracks and drill pad locations within the existing mineralisation and diamond drilling area.

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By way of update on the proposed Empire Transaction outlined in an ASX announcement of 28 April 2020, the Company is pleased to confirm that whilst the key conditions precedent to the transaction, namely the conclusion of a formal Joint Venture Agreement between Platina and the Company’s wholly owned subsidiary Munni Munni Pty Ltd (“MMPL”), and the final transfer of the 70% legal interest in the Project licences into MMPL (amongst other conditions precedent required to conclude the transaction) are yet to be finalised and there is no guarantee they will be finalised, nonetheless constructive dialogue and document review is ongoing.


The Company will continue to update shareholders as further progress is made on the Empire Transaction and looks forward to reporting the results of the drill programme outlined above.


Read the full ASX Release Here

VIDEO

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Investor Update with Artemis Resources Executive Director, Alastair Clayton - 11th June 2020




DRILLING CONFIRM AU-CU-CO MINERALISATION

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CARLOW CASTLE DRILLING CONFIRMS AU-CU-CO MINERALISATION EXTENDS AT DEPTH AND DOWN DIP

ASX Release 6th May 2020


HIGHLIGHTS


NEXT STEPS


Artemis Resources Executive Director, Alastair Clayton, commented:

“The first drill programme at the Carlow Castle resource area under Project One Million has yielded excellent results. As planned, these results increase the mineralised envelope at depth and down dip. This data will be added to a resource update planned for later in the year, following the next phase of RC and diamond drilling. 


Outside of the Carlow Castle resource area, scout drilling of SAM targets 1- 4 delivered some success at Target 4. We will soon start drilling over a range of near resource areas to the SE of Carlow Castle and commence the systematic evaluation of SAM targets 5-21 over a 5km strike length. In the coming weeks we will initiate exploration of the highly prospective Carlow West area using low-cost aircore drilling.


The combination of aircore, RC and diamond drilling campaigns to kick off in the coming weeks will mark an extensive rolling phase of resource and greenfield exploration across the virtually untested greater Carlow Castle project area.

Concurrently, Artemis is also finalising exploration plans for our 100%-owned Paterson Central Gold-Copper Project adjacent to and surrounding the exciting Havieron discovery. All of this will deliver us an incredibly busy schedule of activity and newsflow over the next few months.”


Artemis Resources Limited (“Artemis” or “the Company”) is pleased to provide an update and results from a reverse circulation (RC) programme (Figure 1) from the Carlow Castle Au-Cu-Co Project, about 45km east of Karratha in Western Australia’s Pilbara region. 


The three aims of this programme were to:

  1. Continue to define limits of mineralisation at depth and down dip and add ounces to further resource updates;

  2. Capture DHEM signatures of mineralisation for use in future resource and extensional and regional drill planning; and

  3. Commence systematic exploration of 21 undrilled SAM targets to the west and south of the Carlow Castle resource area.


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Figure 1: Carlow Castle drill hole location plan of April RC programme and interpreted open directions (yellow) of mineralisation following completion of programme.


Read The Full Announcement Here


INVESTOR PRESENTATION

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ARTEMIS RESOUCES INVESTOR PRESENTATION

June/July 2020




View the ASX Release Here 

PATERSON CENTRAL PROGRAM UNDERWAY

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PATERSON CENTRAL GEOCHEMISTRY PROGRAM UNDERWAY

ASX Release 18th May 2020


HIGHLIGHTS

  • Geochemistry program to test targets at Artemis’s 100%-owned Paterson Central project, which is next to the world-class Havieron gold- copper discovery.

  • Paterson Central targets are anomalies surrounding and proximal to Havieron as identified from gravity and magnetic surveys.

  • Geochemistry program will help to identify maiden drill targets, with results expected in 4-5 weeks.

  • Artemis planning to commence a maiden drill campaign at Paterson Central in July.


Artemis Resources Executive Director, Alastair Clayton, commented:

“Our 100%-owned Paterson Central Project, in Western Australia’s East Pilbara, is a rare opportunity to explore virgin ground surrounding and proximal to Havieron, which some analysts are already labelling a Tier 1 gold-copper discovery.”

“Artemis is pursuing this highly prospective greenfields opportunity on a 100% basis to provide shareholders maximum leverage to exploration success. Havieron has a pre-resource implied valuation of more than A$1.5B so, despite the obvious exploration risks involved in drilling through approximately 400m of cover, we can clearly see the rewards on offer at Paterson Central are potentially enormous.”


“Our geological model contends that mineralisation in and around Paterson Central is not just associated with the discrete Havieron intrusion “bullseye”. It is our belief that multiple mineralising events have been channelled into locally folded meta- sedimentary rocks via regional fault and splay structures that are indicated via geophysics and seismic data to continue through Artemis’s Paterson Central ground.”


“We are watching with interest the on-going results from the nine-rig drilling campaign being carried out by Newcrest Mining (ASX: NCM) and Greatland Gold (LON: GGP) at Havieron for indications of potential multiple deposits, and will adjust our Paterson Central drill program design accordingly.”


Figure 1: Artemis Resources’ Paterson Central tenement E45/5276 with Newcrest- funded drilling (highlighted red oval) in foreground and interpreted axial plane of folding (red arrow).

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West Australian gold explorer Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV; Frankfurt: ATY; US OTCQB: ARTTF) is pleased to provide an update on planned activities at its 100%-owned Paterson Central Project in the East Pilbara. 


Paterson Central, on tenement E45/5276, covers 605 km2 and is located approximately 40km east of Newcrest Mining’s (ASX: NCM) multi-million-ounce Telfer Gold-Copper Mine and is contiguous to the Havieron gold and copper discovery (“Havieron”) made by Greatland Gold Plc (LON: GGP) and being worked over by Newcrest (Figures 1 & 2).



Figure 2: Artemis Resources’ Paterson Central tenement E45/5276 (formerly called Armada) that surrounds the Havieron discovery on three sides. Three Artemis targets – Kzinti, Bandi and Bolian – are immediately north of Havieron. Ranking of targets will change as more exploration information comes to hand. The proposed geochemistry program target areas are highlighted on the right-hand side. 


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Based on magnetic and gravity survey results, Artemis has identified 13 targets across Paterson Central. These targets vary in priority and will be assessed further as more exploration information comes to hand.


Reprocessing of the Moodoo NC87-13, a 1987 Seismic line (see ASX announcement dated 12 December 20191 and 21 February 2020) that coincidently covered the Paterson Central tenement, has shown folding and complexity in the basement. This analysis is supported by drilling information released in Newcrest’s December 2019 Quarterly report.


Artemis’ geochemistry program has been designed to cover seven of the 13 targets identified to date. The seven targets surround the Havieron discovery.









Read the full ASX Release Here

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