225 Ounces of Gold Nuggets Recovered from Conglomerates
(firmenpresse) - 225 Ounces of Gold Nuggets Recovered from Conglomerates
Artemis Resources Limited (Artemis or the Company) (ASX : ARV and Frankfurt : ATY) advises that total conglomerate gold nuggets recovered and owned 100% by Artemis from exploration activities now sits at 7Kg (225 ounces). These nuggets have been recovered by Artemis from its 47K Patch and Purdys Reward gold discoveries just south of Karratha in the Western Pilbara region of Western Australia. These nuggets are from conglomerate style gold deposits.
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Figure 1- 7kg (225 oz) of 100% owned conglomerate hosted gold nuggets from 47K Patch and Purdys Reward (foreground), with Ed Mead (left) and Wayne Bramwell (right)
Artemis Chief Executive Officer Wayne Bramwell commented:
Exploration on our 47K target is focussed upon understanding the structural controls and geology of the mineralising system. We are working closely with the CSIRO and a benefit of ground work here is that we continue to add to our stockpile of nuggets.
The interest from North American investors in conglomerate gold opportunities remains high and as such the company will be marketing in the US during September and evaluating options to enhance its OTC listing there.
OVERVIEW
To date Artemis has recovered ~6kg (193 ounces) of gold nuggets from 47K Patch with further gold being recovered from exploration activities on an ongoing basis. Artemis, prior to announcing the 50:50 joint venture with Novo Resources Corp (TSX.V - NVO) at Purdys Reward on the 16 August 2017, had recovered 1kg (32 ounces) of gold nuggets from Purdys Reward.
Artemis continues to focus on 47K Patch and has recently completed mapping, a flora, fauna and heritage surveys to allow exploration efforts to expand. Artemis is working with the CSIRO and currently completing a Sub Audio Magnetics geophysical survey over 47K Patch. Results of the on-going exploration above will be announced as they become available.
Artemis has been methodically working at 47K and has decided to defer bulk sampling until all data is consolidated, integrated and processed. We retain the ability to bulk sample 9,600 tonnes and, at the appropriate time, will undertake this sampling.
47K Patch lies within the Companys Comet Well West tenement package. 47K Patch is within approved tenement E47/3443 which is 70% owned by Artemis. Artemis Resources ASX announcement dated 11 December 2017 - Artemis Completes acquisition of Elysian and Hard Rock Tenements next to Comet Well and Radio Hill -Karratha, Western Australia-
Artemis interests in its Comet Well West tenements are not associated with Novo Resources Corporation.
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Figure 2
6kg (193 oz) of 47K Patch gold nuggets recovered to date.
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Figure 3
1kg (31.6 oz) of Purdys Reward gold nuggets Artemis Resources ASX announcement dated 7 August 2017 - Gold Nugget Recovery Continues from Purdys Reward-
recovered before the Novo Resources JV was signed.
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Figure 4
Comparison of Purdys Reward (left) and 47K Patch (right) conglomerate hosted gold nuggets.
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Figure 5
Location of areas where gold nuggets have been recovered from 47K Patch
For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact:
Edward Mead
Executive Director
Telephone: +61 407 445 351
Wayne Bramwell
Chief Executive Officer
Telephone: +61 417 953 073
David Tasker
Advisor - Chapter One
Telephone : +61 433 112 936
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BACKGROUND INFORMATION ON ARTEMIS RESOURCES
Artemis Resources Limited is an exploration and development company focussed on its large (2,400 km2) and prospective base, battery and precious metals assets in the Pilbara region of Western Australia.
Artemis owns 100% of the 500,000 tpa Radio Hill processing plant and infrastructure, located approximately 35 km south of the city of Karratha. The Company is evaluating 2004 and 2012 JORC Code compliant resources of gold, nickel, copper-cobalt, PGE's and zinc, all situated within a 40 km radius of the Radio Hill plant.
Artemis have signed Definitive Agreements with Novo Resources Corp. (Novo), which is listed on Canadas TSX Venture Exchange (TSXV:NVO), and pursuant to the Definitive Agreements, Novo has satisfied its expenditure commitment, and earned 50% of gold (and other minerals necessarily mined with gold) in conglomerate and/or paleoplacer style mineralization in Artemis tenements within 100 km of the City of Karratha, including at Purdys Reward (the Gold Rights). The Gold Rights do not include:
(i) gold disclosed in Artemis existing (at 18 May 2017) JORC Code Compliant Resources and Reserves; or
(ii) gold which is not within conglomerate and/or paleoplacer style mineralization; or
(iii) minerals other than gold.
Artemis Mt Oscar tenement is excluded from the Definitive Agreements. The Definitive Agreements cover 36 tenements / tenement applications that are 100% owned by Artemis.
Pursuant to Novos successful earn-in, two 50:50 joint ventures have been formed between Novos subsidiary, Karratha Gold Pty Ltd (Karratha Gold) and two subsidiaries of Artemis (KML No 2 Pty Ltd and Fox Radio Hill Pty Ltd). The joint ventures are managed as one by Karratha Gold with Artemis and Novo contributing to further exploration and any mining of the Gold Rights on a 50:50 basis.
FORWARD LOOKING STATEMENTS AND IMPORTANT NOTICE
This report contains forecasts, projections and forward-looking information. Although the Company believes that its expectations, estimates and forecast outcomes are based on reasonable assumptions it can give no assurance that these will be achieved. Expectations, estimates and projections and information provided by the Company are not a guarantee of future performance and involve unknown risks and uncertainties, many of which are out of Artemis control.
Actual results and developments will almost certainly differ materially from those expressed or implied. Artemis has not audited or investigated the accuracy or completeness of the information, statements and opinions contained in this announcement. To the maximum extent permitted by applicable laws, Artemis makes no representation and can give no assurance, guarantee or warranty, express or implied, as to, and takes no responsibility and assumes no liability for the authenticity, validity, accuracy, suitability or completeness of, or any errors in or omission from, any information, statement or opinion contained in this report and without prejudice, to the generality of the foregoing, the achievement or accuracy of any forecasts, projections or other forward looking information contained or referred to in this report.
Investors should make and rely upon their own enquiries before deciding to acquire or deal in the Companys securities.
COMPETENT PERSONS STATEMENT
The information in this document that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a Director of Artemis Resources Limited and is a consultant to the Company and is employed by Doraleda Pty Ltd. Mr Mead 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 Mead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
Table 1
Location of gold nuggets recovered by metal detecting with a Minelab GPZ7000 from 47 K Patch with locations for Purdys Reward (previously reported 7 August 2017).
Site East North
47 K Patch, Area 1 0491908 7676175
47 K Patch, Area 2 0491388 7676320
WANT TO KNOW MORE ABOUT ARTEMIS?
Please Contact:
Wayne Bramwell - Chief Executive Officer
E: wayne.bramwell(at)artemisresources.com.au
P: +61 417 953 073
Edward Mead - Executive Director
E: Ed.Mead(at)artemisresources.com.au
P : +61 407 445 351
David Tasker - Media Advisor
E: dtasker(at)chapteroneadvisors.com.au
P : +61 433 112 936
Or visit the Artemis Website or
follow us on Twitter.
Artemis Resources Limited
ARBN: 80 107 051 749
Suite1, 11 Ventnor Ave,
West Perth WA,
Australia, 6005
P : +61 8 6319 0000
E : info(at)artemisresources.com.au
www.artemisresources.com.au
Twitter - (at)Artemis_ARV
JORC Code, 2012 Edition - Table 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
CriteriaJORC Code explanation Commentary
Sampling· Nature and quality · A metal detector was used to
techniq of sampling identify and recover gold
ues ( nuggets
e.g. cut channels,
random chips, or from areas previously targeted
specific specialised by prospectors,
industry standard
measurement tools within the near surface
appropriate to the profile, from
minerals under
investigation, such two small localised areas based
as down hole gamma around coordinates reported
sondes, or handheld in the
XRF instruments, announcement.
etc.). These examples
should not be taken · The first area of 20 metres
as limiting the broad by 6 metres by 1.5 metres
meaning of depth was rehabilitated by
sampling. loosening the surface with an
excavator and then re
· Include reference to profiling back to the
measures taken to original
ensure sample surface.
representivity and
the appropriate · A second area of 115 metres
calibration of any by 2-4 metres by 1 metre
measurement tools or depth
systems
used. was rehabilitated by loosening
the surface with an excavator
· Aspects of the and then re profiling back to
determination of the original
mineralisation that surface.
are Material to the
Public · The nuggets were then hand
Report. dug.
· In cases where · Total weight of nuggets is 6,
industry standard 000
work has been done grams.
this would be
relatively simple
(
e.g. 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
(
e.g. submarine
nodules) may warrant
disclosure of
detailed
information.
Drilling· Drill type (e.g. core· Drilling not being reported
techniq, reverse circulation,
ues open-hole hammer,
rotary air blast,
auger, Bangka, sonic,
etc.) and details
(
e.g. 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.).
Drill · Method of recording · Not drilling results.
sample and assessing core
recover and chip sample
y 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.
Logging · Whether core and · Detecting sites were gps
chip samples have located and
been geologically and photographed.
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.
Sub-samp· If core, whether cut · No sub sampling as no
ling or sawn and whether drilling related
techniq quarter, half or all samples.
ues and core
sample taken.
prepara
tion · 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
in-situ 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.
Quality · The nature, quality · Not Analysed
of and appropriateness
assay of the assaying and
data laboratory procedures
and used and whether the
laborat technique is
ory considered partial or
tests 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
(
e.g. standards,
blanks, duplicates,
external laboratory
checks) and whether
acceptable levels of
accuracy (i.e. lack
of bias) and
precision have been
established.
Verifica· The verification of · No verification sampling has
tion of significant been undertaken.
samplin intersections by
g and either independent or
assayin alternative company
g 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.
Location· Accuracy and quality · Grid system used for
of of surveys used to sampling is MGA 94 (Zone
data locate drill holes 50)
points (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.
Data · Data spacing for · Randomly spaced
spacing reporting of reconnaissance metal
and Exploration detecting.
distrib Results.
ution
· Whether the data · Not for ore resource
spacing and estimation.
distribution is
sufficient to · No compositing applied.
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.
Orientat· Whether the · No orientation of data. All
ion of orientation of surface
data sampling achieves sampling.
in unbiased sampling of
relatio possible structures
n to and the extent to
geologi which this is known,
cal considering the
structu deposit
re 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.
Sample · The measures taken · The gold specimens remain in
securit to ensure sample the procession of the
y security. prospector.
Audits · The results of any · No audit of rock sampling
or audits or reviews of data has been completed to
reviews sampling techniques date
and
data.
Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)
Criteria JORC Code explanation Commentary
Mineral · Type, reference · See map elsewhere in this
tenement name/number, report for
and land location and locations.
tenure ownership including
status agreements or · Artemis holds a 70%
material issues with interest
third parties such in
as joint ventures, granted tenement E47/3343 whi
partnerships, ch
overriding is
royalties, native in good standing.
title interests, · Purdys Reward (E47/1745)
historical sites, subsequent to the gold
wilderness or recovery of gold nuggets
national park and shown in this release is now
environmental owned 50% owned by Novo
settings. Resources
Corporation.
· 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.
Exploratio· Acknowledgment and · Historical exploration data
n done by appraisal of is currently being
other exploration by other collated.
parties parties.
· Extensive exploration was
undertaken by Fox Resources
and other
parties.
Geology · Deposit type, · The Deposit type style
geological setting targeted is
and style of sedimentary.
mineralisation.
· The area has conglomerate
and paleoplacer style gold
mineralisation and potential
for shear zone gold
mineralisation.
· Morphology of gold mineralis
ation is
flattened nuggets which are
thought to be the result of
the detrital
nature.
·
Drill · A summary of all · No drill holes being
hole information material reported.
Informati to the understanding
on 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.
Data · In reporting · No aggregation methods used.
aggregati Exploration Results,
on weighting averaging
methods techniques, maximum
and/or minimum grade
truncations
(
e.g. 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.
Relationsh· These relationships · No mineralisation widths
ip are particularly are being
between important in the reported.
mineralis reporting of
ation Exploration
widths Results.
and
intercept· If the geometry of
lengths 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
(
e.g. down hole
length, true width
not
known).
Diagrams · Appropriate maps · Appropriate maps are
and sections (with available in the body of
scales) and this
tabulations of announcement.
intercepts should be
included for any
significant
discovery being
reported These
should include, but
not be limited to a
plan view of drill
hole collar
locations and
appropriate
sectional
views.
Balanced · Where comprehensive · Reporting of results in
reporting reporting of all this report is considered
Exploration Results balanced.
is not practicable,
representative
reporting of both
low and high grades
and/or widths should
be practiced to
avoid misleading
reporting of
Exploration
Results.
Other · Other exploration · First pass geological
substanti data, if meaningful mapping has been
ve and material, should completed.
explorati be reported
on including (but not · No other significant
data limited to): exploration work has been
geological done by
observations; Artemis.
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 · The nature and · Trenching around
work scale of planned prospective activity
further work continues.
(
e.g. tests for · Mapping has been completed
lateral extensions, and this will be integrated
depth extensions or with other exploration
large-scale step-out information.
drilling).
· A CSIRO research programme
· Diagrams clearly is underway in to the
highlighting the potential source of gold
areas of possible mineralisation and in to the
extensions, geological
including the main setting.
geological This programme is well
interpretations and advanced.
future drilling
areas, provided this · A Sub Audio Magnetics
information is not geophysical survey is
commercially underway.
sensitive.
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