Weerianna Gold Project Resource Update

(firmenpresse) - Weerianna Gold Project Resource Update

Inferred, Shallow Resource of 975Kt (at) 2.0 g/t Au for 62,739 contained Oz Au

Artemis Resources Limited (Artemis or the Company) (ASX:ARV, Frankfurt, US OTC:ARTTF) is pleased to announce the latest resource estimate for the companys 80% owned Weeriana Gold Project in the West Pilbara region of Western Australia.

The October 2018 resource estimate is classified as Inferred (JORC 2012 Code for reporting Mineral Resources).
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Figure 1: Shallow Trenching at Weeriana

Artemis Chief Executive Officer Wayne Bramwell commented:

Artemis has drilled 37,000m across eight of its projects in the last 12 months to best determine which sites warrant more exploration expenditure.

Weeriana has only been drilled to an average depth of 69m and as a shallow, quartz vein style gold resource may have the potential to increase in scale with deeper drilling.

WEERIANNA GOLD PROJECT RESOURCE UPDATE

Artemis undertook a reverse circulation (RC) drilling program in 2018 comprising 19 drillholes for a total of 1,644m. Drilling tested for extensions to previously interpreted locations for mineralisation and to provide confirmation of previous results. This announcement provides an updated resource estimate incorporating both the Companys recent drilling data and drilling data collected during exploration previously undertaken by other companies.

The Weerianna Gold Project (Weerianna or the Project) is located in the West Pilbara region of Western Australia, approximately 25km east of Karratha and 5km west of Roebourne (Figure 2) and is adjacent to the North West Coastal Highway. Weerianna is situated on granted mining lease M47/223 (granted until 27 December 2031). M47/223 is 100% held by Western Metals Pty Ltd, an entity in which Artemis has an 80% interest (via its wholly owned subsidiary, Karratha Metals Pty Ltd). The deposit is 35km by road to the Radio Hill plant where a new gravity gold circuit has recently been installed.

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Figure 2: Weerianna Gold Project Location Map

RESOURCE MODELLING AND CLASSIFICATION

The October 2018 Weerianna resource estimate was performed by Mrs Fleur Muller, Director of Geostat Services Pty Ltd (Geostat), using Surpac software, utilising historic data and data from the recent RC drilling program completed by Artemis. Mrs Muller has over 22 years of experience in geostatistical resource estimation and meets the requirements for a Competent Person as defined by JORC guidelines.

A classified mineral resource for the Weerianna deposit was calculated by Geostat (as of 27th October 2018) to be 975,700 tonnes at 2 g/t Au for 62,700 ounces (above a cut-off of 1 g/t Au).

Tonnages were applied on a wet basis, as the resource density was derived from gamma density values measured downhole. Diamond density holes will allow the application of a dry tonnage to be applied, resulting in a slight reduction in the total tonnage. Classification of the resource involved several criteria, including drill hole spacing, sampling density, sampling locations, lode geometry, QAQC, bulk density and confidence in grade continuity.


Lodes were classified as Inferred on the basis of the above criteria. A wet density of 2.39t/m3 (oxide), 2.44t/m3 (transitional) and 2.87t/m3 (primary) was used to estimate resource block tonnage for all lodes.

No mining and metallurgical modifying factors have been applied. It is considered that the Mineral Resource may be practically mined by selective open cut mining methods using conventional mining techniques and equipment. It is expected that the various upgrades planned or in progress at the Radio Hill plant allow for processing the Weerianna material. However, no processing test work has been undertaken as yet. The reporting cut-off grade of 1.0g/t Au takes into account these conditions.

The classified Mineral Resource is tabulated in Table 1 as at 27th October 2018 and is reported beneath the topography surface using a 1g/t Au cut-off. Tonnage has dropped by approximately 3% from the previous reported estimate (refer ASX 26 June 2014) as the transitional density of 2.39 for the 2018 resource is lower than that of 2.6 used for the 2009 resource, and this material carries the bulk of the resource tonnage. Another contributing factor is that the recent WERC holes have generally reported lower grades.

Table 1 Inferred Mineral Resource Estimate - Weerianna Gold Project
(October 2018 -above a 1.0 g/t Au cut off)


Material Volume Tonnage1 Gold Grade Au Metal (oz
Type (cubic (tonnes) (g/t Au) )
metres)
1110001,000
)

Oxide 52,891 126,409 2.15 8,738
Transition 265,125 649,556 2.03 42,394
Fresh 69,594 199,734 1.82 11,687
Total 387,609 975,699 2.00 62,739
1 NOTE tonnage is calculated on a wet tonnage basis,.

DATA INFORMING THE ESTIMATE
Project Geology

The project area mainly comprises rock types belonging to the Roebourne Group of greenstones. Two formations can be distinguished: the basal Ruth Well Formation consisting of ultramafic and mafic volcanic rocks including metabasalt, serpentinised peridotitic komatiite, talc-chlorite schist, grey- and white-banded chert and black chert. Conformably overlying is the dominantly sedimentary unit, the Nickol River Formation. Major rock types include grey- and white-banded chert, ferruginous chert, BIF (Banded Iron Formation), fine-grained clastic sedimentary rocks, quartzite, felsic volcanic rocks, carbonate-rich sediments and also conglomerates (Figure 3).

The rock types present at Weerianna mainly consists of poorly outcropping ultramafic chlorite-serpentinite schists showing variable amounts of silicification and carbonate alteration. Moderately thick to narrow cherty intercalations representing interflow sedimentary rocks are frequently found within the ultramafic schist sequence.

Other lithologies present include BIF and a substantial amount of mainly white quartz veins varying in thickness between 1cm and several metres.
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Figure 3: Project Geology and Tenement Plan

Drill holes intersected ultramafic rock types in excess of 80m thick and in several of these holes, wide zones of distinctly spinifex textured ultramafics were found. These schists are found mainly north of a prominent ridge of banded chert which forms the backbone of impressive ridges between Weerianna and Carlow Castle, 7km to the SW. However, ultramafics intercalations are also present within this main chert sequence but these are very poorly outcropping as they are often covered by thick chert scree shedding off the ridges.

Recent investigations by the GSWA found these cherts to be much brecciated and totally silicified mafic cataclastic rocks. These outcrops are associated with shearing and mylonitization along the Regal Thrust. At Weerianna this chert is an almost black, cherty microbreccia that is net-veined by quartz with local gossanous lenses.

The 500m wide zone of ultramafic schists and cherts lies between two relatively competent basaltic terrains. The northern basalt is poorly outcropping but the southern forms substantial hills comprising dark coloured basaltic rock types. These basalts are intruded by gabbroic rocks belonging to the Andover Intrusive Complex which is the largest differentiated Intrusive Complex in the West Pilbara.

Relatively late fresh undeformed micro dolerite intrusions have been intersected in several holes.

The chert-ultramafic sequence at Weerianna represents portions of both the Ruth Well and Nickol River Formation of the Roebourne Group of greenstones. The southern basalt forms part of the Ruth Well Formation. The identity of the northern basalts is not certain, but these are likely to belong to the Regal Formation.

At Weerianna, the dominant structural and lithological trend is north-easterly with a generally moderate to steep south-easterly dip. The schistosity is parallel to the bedding and controls the quartz veining. At places the schistosity and quartz veins are folded.

The depth of weathering as found during drilling varies but is generally around 50 to 60 m in mineralised areas.

Mineralisation

Epigenetic gold (with or without copper) within the West Pilbara is almost invariably associated with shearing and faulting in a variety of geological settings. Favourable settings including sheared units are associated with the Regal Thrust (including Weerianna), splay faulting associated with the Sholl Shear Zone and also around the edges of several mafic/ultramafic intrusions.

At the Weerianna Mining Centre gold mineralisation is associated with quartz veining within chlorite-serpentine schists which have undergone variable degrees of silicification and carbonate alteration. Sulphides including pyrite, arsenopyrite and chalcopyrite are sometimes present in substantial amounts.

The gold deposits are hosted by strongly sheared schists of the Roebourne Group within or immediately beneath the Regal Thrust. The quartz veins generally strike between N and E-NE and the main ore zone dips 70° to the south east.

Other nearby gold prospects within a similar geological setting are found at Carlow Castle, Sing Well, Camper Day and No. Six Well. They are all close to the brecciated chert horizon (Regal Thrust) and are either hosted by schists or are found as small discontinuous quartz veins in basalts. This gold belt can be traced for more than 20km.

Drilling

Artemis recently completed an RC drilling program at Weerianna of 19 RC drillholes, totalling 1,644m. Artemis drilling combined with exploration drilling done by previous companies totals 163 RC holes, 3 percussion holes and 5 diamond drillholes for 11,827m. Drill hole depths vary from 30m to 180m, averaging 69m.The hole collar listing for all holes and downhole surveys for Artemis holes can be found in Appendix 1 and Appendix 2.

Sampling and Assay

The majority of samples are derived from RC drilling where 1m downhole samples were collected via a cyclone and passed through either a riffle splitter (historic drilling) or cone splitter (Artemis) to yield a subsample of 2-4kg for assay.

Several assay procedures have been employed with the historic drillholes, which in summary include aqua regia digest followed by AAS of Au followed by fire assay with AAS finish if the gold values were above a defined threshold e.g. 0.5g/t. In addition, when the fire assay exceeded 5g/t another fire assay was done on a split from the original coarse residue.

Samples from Artemis drillholes were assayed for gold by 50g fire assay with AAS finish. Additionally, multi element (33) analyses by 4 acid ICP AES was performed on samples taken by Artemis.


QAQC procedures included, insertion of blanks and reference materials, field duplicate sampling and analysis of historical coarse residue resplits and lab pulp repeats. Geostats assessment of 2018 QAQC results for standards was fair, with several values reporting outside the 3SD threshold. The results for blanks indicate the laboratory had acceptable processes in place to minimise sample to sample contamination. Field duplicate results show a fair correlation with a slight bias at higher grades.

Geostat notes that no firm conclusions could be made with respect to historical field duplicates due to differing sample preparation methods. Similarly, for coarse residue analyses the absence of using the same standards and blanks at all three laboratories makes it impossible to draw definite conclusions.

Geological Model

The Weerianna deposit is located within a chert-ultramafic schist sequence, on the overturned eastern limb of an ENE trending syncline. Mineralisation at Weerianna is associated with quartz veins, which are controlled by the schistosity present.

Four distinct mineralisation zones comprise the deposit, with an overall east-west trend and steep dip of approximately -80° towards grid south. 18 wireframes were delineated from sectional outlines to represent all mineralisation within these zones. A combination of assays and lithology were used to define these wireframe envelopes, with a cut-off of approximately 0.5 g/t Au to separate mineralisation from waste.

The wireframed lodes extend over a distance of 600m along-strike, with a maximum down-dip extent of 120m.

Statistics

Log histograms and probability plots of all elements exhibit mixing of populations, likely caused by the presence of both structural and vein related mineralisation. Top-cuts of either 10g/t Au or 20g/t Au were applied to selected lodes in order to constrain extreme values and reduce their impact on estimated grades. Upper inflexion points in probability distribution plots and a high coefficient of variation were used as a guide to determining top-cuts for these wireframes.

Variography

Variography analysis using lognormal variograms was completed on combined composites to supply variogram parameters for grade interpolation. A strike of 090° was interpreted, with a dip of -80° towards 180°. No plunge was detected with the current data levels. A moderate nugget effect is inherent, with 30% of the total variability. Maximum spatial continuity ranges indicate a range of continuity of up to 200m along-strike and 22m down-dip. Downhole variograms are of reasonable quality and indicate a downhole lode width of up to 5m. Quality of down-dip variograms are poor and illustrate the need for infill drilling in this direction.

Block model

A block model of parent cell size 4m (N) x 12.5m (E) x 5m (RL) sub celled to 1m x 6.25m x 2.5m was constructed for the Weerianna deposit. The resource was estimated using ordinary kriging interpolation for all lodes. A minimum of 4 composites and a maximum of 25 composites were used in interpolation of grades into blocks. Search ellipses for initial interpolation of grades comprised 75m x 25m x 10m.

A second subsequent interpolation pass was employed with expanded search ellipses in order to fill blocks in areas of sparse drill density within the lodes. Lodes were classified as Inferred on the basis of drill hole spacing, sampling, lode geometry, bulk density and confidence in grade continuity.

The JORC Code, 2012, Table 1 Sections 1, 2 and 3 are appended at the end of this announcement.

LOOKING FORWARD

Further exploration at Weeriana will be ranked, reviewed and prioritised in 2019.

For further information on this announcement 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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COMPETENT PERSONS STATEMENT

The information in this announcement that relates to the Weerianna Project Mineral Resource is based on on information compiled or reviewed by Mrs Fleur Muller, who is a Member of The Australian Institute of Mining and Metallurgy and a member of the Australian Institute of Geoscientists. Mrs Muller is a consultant working for Geostat Services Pty Ltd who was engaged by Artemis Resources to prepare the report and undertake the resource estimation for the Weerianna Project for the period ending 27 October 2018. Mrs Muller has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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.

Mrs Muller consents to the inclusion in the announcement of the matters based on her information in the form and context in which it appears.

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, PGEs 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.

APPENDIX 1

WEERIANNA DEPOSIT
DRILLHOLE LISTING



HOLE-ID X Y Z DEPTH AZIMUTH DIP
WDH001 10916.069950.42 32.60 108.00 180.00 -60.00
WDH002 10787.3510015.5329.49 78.00 180.00 -60.00
WDH032 10895.0010080.4027.16 135.00 180.00 -60.00
WDH103 10850.0010121.9025.82 180.00 180.00 -60.00
WDH106 10949.6010069.8026.07 141.00 180.00 -60.00
WERC001 10897.4510004.1229.96 78.00 2.10 -60.50
WERC002 10846.2510083.3226.93 138.00 182.10 -61.10
WERC003 10848.5410016.3828.89 84.00 1.22 -60.80
WERC004 10698.1510083.4027.40 96.00 183.30 -61.20
WERC005 10700.7310016.2429.78 72.00 4.20 -61.30
WERC006 10700.8710000.1330.86 108.00 359.60 -61.30
WERC007 10674.7210082.4527.67 60.00 3.10 -61.20
WERC008 10675.1410059.6928.46 78.00 3.50 -60.30
WERC009 10646.1310065.3528.67 60.00 0.80 -60.00
WERC010 10646.5510049.4829.12 60.00 359.70 -60.80
WERC011 10597.7910097.1527.03 78.00 182.40 -60.00
WERC012 10599.3010057.9128.34 90.00 2.80 -60.60
WERC013 10548.8210108.2226.58 96.00 181.30 -60.70
WERC014 10549.8610080.0127.03 90.00 4.60 -60.50
WERC015 10549.9310064.6127.48 114.00 0.60 -75.10
WERC016 10524.3610108.4026.44 120.00 182.00 -61.40
WERC017 10524.6010089.2026.90 84.00 181.00 -61.90
WERC018 10495.6810079.4626.93 60.00 3.80 -60.90
WERC019 10496.0910060.2027.26 78.00 2.50 -60.60
WPH1 10750.0010040.0030.00 61.00 351.00 -60.00
WPH2 10900.009970.00 30.00 70.00 108.00 -60.00
WPH3 10960.0010000.0030.00 79.00 153.00 -60.00
WRC001 9798.80 10164.0025.50 75.00 183.00 -60.00
WRC002 9999.50 10194.4025.14 33.00 179.00 -60.00
WRC003 10001.8010017.0028.18 78.00 358.00 -60.00
WRC004 10200.1010025.5029.33 72.00 181.00 -60.00
WRC005 10199.2010155.0025.73 75.00 181.00 -60.00
WRC006 10300.1010099.8027.26 66.00 180.00 -60.00
WRC007 10300.2010059.1027.99 48.00 181.00 -60.00
WRC008 10300.1010019.9029.75 48.00 182.00 -60.00
WRC009 10305.609874.60 32.63 48.00 179.00 -60.00
WRC010 10301.209849.40 33.45 48.00 181.00 -60.00
WRC011 10505.0010079.4026.94 48.00 181.00 -60.00
WRC012 10710.3010049.8028.45 48.00 1.00 -60.00
WRC013 10700.309935.20 34.50 54.00 3.00 -60.00
WRC014 10799.709975.90 31.19 65.00 1.00 -60.00
WRC015 10800.4010211.2023.71 48.00 1.00 -60.00
WRC016 10800.0010050.7028.04 72.00 2.00 -60.00
WRC017 10799.0010010.9029.60 78.00 1.00 -60.00
WRC018 10897.0010059.8027.33 78.00 181.00 -60.00
WRC019 10899.8010030.3028.56 60.00 181.00 -60.00
WRC020 10899.8010000.3029.78 60.00 182.00 -60.00
WRC021 10899.809970.30 31.50 60.00 182.00 -60.00
WRC022 10893.709940.10 33.04 30.00 181.00 -60.00
WRC023 10599.7010035.8029.13 42.00 181.00 -60.00
WRC024 11500.2010165.2019.54 77.00 58.00 -60.00
WRC025 11000.009979.30 27.86 66.00 180.00 -60.00
WRC026 10999.909999.10 27.03 60.00 180.00 -60.00
WRC027 11000.0010019.1026.73 60.00 180.00 -60.00
WRC028 10999.9010039.1026.26 54.00 180.00 -60.00
WRC029 10940.0010005.3028.84 66.00 180.00 -60.00
WRC030 10939.7010019.9028.11 54.00 180.00 -60.00
WRC031 10954.9010039.7027.03 60.00 180.00 -60.00
WRC033 10849.709980.90 30.45 60.00 180.00 -60.00
WRC034 10849.9010000.8029.37 60.00 180.00 -60.00
WRC035 10850.0010020.7028.59 66.00 180.00 -60.00
WRC036 10850.1010040.8028.01 46.00 180.00 -60.00
WRC037 10850.3010060.9027.51 60.00 180.00 -60.00
WRC038 10794.8010001.6030.13 60.00 180.00 -60.00
WRC039 10794.8010020.8029.14 39.00 180.00 -60.00
WRC040 10794.8010041.4028.40 60.00 180.00 -60.00
WRC041 10795.0010061.3027.77 54.00 180.00 -60.00
WRC042 10750.0010001.1029.84 66.00 180.00 -60.00
WRC043 10750.4010021.4029.47 44.00 180.00 -60.00
WRC044 10750.5010041.7028.79 60.00 180.00 -60.00
WRC045 10750.8010061.7028.14 62.00 180.00 -60.00
WRC046 10794.609980.80 30.95 60.00 180.00 -60.00
WRC047 10800.4010031.2028.61 37.00 360.00 -60.00
WRC048 11049.509979.70 25.67 69.00 180.00 -60.00
WRC049 11049.709999.80 25.06 60.00 180.00 -60.00
WRC050 11052.7010019.9024.77 60.00 180.00 -60.00
WRC051 11052.1010039.6024.94 60.00 180.00 -60.00
WRC052 10925.5010030.8027.90 57.00 180.00 -60.00
WRC053 10875.1010040.2028.26 49.00 180.00 -60.00
WRC054 10875.3010060.2027.59 62.00 180.00 -60.00
WRC055 10825.009991.10 30.40 60.00 180.00 -60.00
WRC056 10825.2010010.8029.66 63.00 180.00 -60.00
WRC057 10825.3010031.1028.69 60.00 180.00 -60.00
WRC058 10825.5010051.1027.90 60.00 180.00 -60.00
WRC059 10825.5010070.8027.18 60.00 180.00 -60.00
WRC060 10780.109991.10 30.53 60.00 180.00 -60.00
WRC061 10777.3010010.8029.72 60.00 180.00 -60.00
WRC062 10775.9010031.2029.00 60.00 360.00 -60.00
WRC063 10776.2010050.9028.23 60.00 360.00 -60.00
WRC064 10725.009990.70 30.88 60.00 180.00 -60.00
WRC065 10725.1010010.5029.99 66.00 180.00 -60.00
WRC066 10725.1010026.2029.48 60.00 360.00 -60.00
WRC067 10698.6010030.5029.15 60.00 360.00 -60.00
WRC068 10675.3010070.9028.11 60.00 360.00 -60.00
WRC069 10675.3010050.6028.78 60.00 360.00 -60.00
WRC070 10675.1010030.7029.52 60.00 360.00 -60.00
WRC071 10624.1010070.8028.15 60.00 360.00 -60.00
WRC072 10624.6010050.5028.79 60.00 360.00 -60.00
WRC073 10198.9010059.3028.11 59.00 180.00 -60.00
WRC074 10198.7010079.0028.10 63.00 180.00 -60.00
WRC075 10198.6010099.1027.45 44.00 180.00 -60.00
WRC076 10399.4010039.8028.11 44.00 180.00 -60.00
WRC077 10399.4010059.7027.63 70.00 180.00 -60.00
WRC078 10399.2010079.4027.43 64.00 180.00 -60.00
WRC079 10399.2010099.7027.26 58.00 180.00 -60.00
WRC080 10494.7010020.3028.11 60.00 180.00 -60.00
WRC081 10495.1010039.9027.70 60.00 180.00 -60.00
WRC082 10495.3010059.9027.21 60.00 180.00 -60.00
WRC083 10496.0010100.4026.56 60.00 180.00 -60.00
WRC084 10496.2010120.0026.29 55.00 180.00 -60.00
WRC085 10699.6010010.2029.97 60.00 180.00 -60.00
WRC086 10700.209990.40 31.39 60.00 180.00 -60.00
WRC087 10499.2010049.5027.59 64.00 360.00 -60.00
WRC088 10502.0010139.8025.96 48.00 360.00 -60.00
WRC089 10502.0010119.3026.35 48.00 360.00 -60.00
WRC090 10494.209982.20 28.48 65.00 360.00 -60.00
WRC091 10548.409960.00 30.28 50.00 360.00 -60.00
WRC092 10564.209994.00 29.55 60.00 360.00 -60.00
WRC093 10599.409899.20 34.32 65.00 360.00 -60.00
WRC094 10599.509919.60 33.37 60.00 360.00 -60.00
WRC095 10148.8010120.0026.09 60.00 180.00 -60.00
WRC096 10198.9010120.0026.53 65.00 180.00 -60.00
WRC097 10249.4010119.8026.79 65.00 180.00 -60.00
WRC098 10249.7010099.6027.19 65.00 180.00 -60.00
WRC099 10299.2010119.9026.93 50.00 180.00 -60.00
WRC100 10326.6010097.9027.05 65.00 180.00 -60.00
WRC101 10278.0010037.5028.96 65.00 180.00 -60.00
WRC102 10800.3010091.7026.82 60.00 180.00 -60.00
WRC104 10899.8010111.0025.72 60.00 180.00 -60.00
WRC105 10925.3010100.2026.00 64.00 180.00 -60.00
WRC107 10899.709935.80 34.05 60.00 180.00 -60.00
WRC108 10852.309922.00 34.84 60.00 180.00 -60.00
WRC109 10951.709963.10 30.56 65.00 180.00 -60.00
WRC110 10951.909982.90 29.26 60.00 180.00 -60.00
WRC111 10975.709969.40 29.35 65.00 180.00 -60.00
WRC112 10978.109949.60 30.61 65.00 180.00 -60.00
WRC113 10850.409941.60 33.46 60.00 180.00 -60.00
WRC114 10475.0010070.1027.07 65.00 360.00 -60.00
WRC115 10475.2010049.8027.56 60.00 360.00 -60.00
WRC116 10523.2010069.2027.21 60.00 360.00 -60.00
WRC117 10525.6010049.4027.60 65.00 360.00 -60.00
WRC118 10399.809870.30 31.41 60.00 180.00 -60.00
WRC119 10356.809880.70 31.86 60.00 180.00 -60.00
WRC120 10356.609900.60 30.87 60.00 180.00 -60.00
WRC121 10302.509861.70 32.81 60.00 180.00 -60.00
WRC122 10198.809849.30 34.16 60.00 180.00 -60.00
WRC123 10197.509889.90 33.17 60.00 180.00 -60.00
WRC124 10197.009907.50 33.24 60.00 180.00 -60.00
WRC125 11540.3010137.7019.71 60.00 353.00 -60.00
WRC126 11729.5010240.4018.16 60.00 360.00 -60.00
WRC127 11538.6010177.5019.60 60.00 360.00 -60.00
WRC128 9754.10 9625.80 39.38 60.00 360.00 -60.00
WRC129 10540.109905.50 30.73 60.00 360.00 -60.00
WRC130 10256.209904.00 32.07 60.00 180.00 -60.00
WRC131 10154.509891.80 32.16 60.00 180.00 -60.00
WRC132 10249.7010073.7027.74 56.00 180.00 -60.00
WRC133 10850.0010060.0029.00 119.00 180.00 -60.00
WRC134 10550.009930.00 30.50 120.00 0.00 -60.00
WRC135 10800.009940.00 32.50 120.00 0.00 -60.00
WRC136 10800.009980.00 31.00 120.00 0.00 -60.00
WRC137 10752.009940.00 29.50 119.00 0.00 -60.00
WRC138 10750.009980.00 29.50 120.00 0.00 -60.00
WRC139 10700.009940.00 34.50 120.00 0.00 -60.00
WRC140 10700.009980.00 31.50 120.00 0.00 -60.00
WRC141 10555.009860.00 31.50 144.00 0.00 -60.00
WRC142 10550.0010062.0027.50 80.00 1.00 -60.00
WRC143 10500.009860.00 29.50 101.00 358.00 -60.00
WRC144 10500.009900.00 29.50 80.00 358.00 -60.00
WRC145 10500.009940.00 29.00 80.00 358.00 -60.00
WRC146 10502.0010020.0028.00 120.00 0.00 -60.00
WRC147 10600.009940.00 29.00 120.00 0.00 -60.00

APPENDIX 2

WEERIANNA DEPOSIT
DOWNHOLE SURVEYS



HOLE DISTANCE GRID DIP METHOD
AZIMUTH

WERC001 0 2.1 -60.5 Gyroscope
WERC001 30 2.2 -59.5 Gyroscope
WERC001 60 2.9 -57.9 Gyroscope
WERC001 72 4 -57.1 Gyroscope
WERC002 0 182.1 -61.1 Gyroscope
WERC002 30 181.2 -60.8 Gyroscope
WERC002 60 182.4 -60.9 Gyroscope
WERC002 90 183.5 -61.1 Gyroscope
WERC002 120 184.6 -62.4 Gyroscope
WERC002 132 184.9 -62.1 Gyroscope
WERC003 0 1.22 -60.8 Gyroscope
WERC003 30 2.19 -60.5 Gyroscope
WERC003 60 0.45 -59.3 Gyroscope
WERC003 78 2.43 -57.6 Gyroscope
WERC004 0 183.3 -61.2 Gyroscope
WERC004 30 185.1 -61.3 Gyroscope
WERC004 60 184.8 -62.8 Gyroscope
WERC004 90 185.1 -62.8 Gyroscope
WERC005 0 4.2 -61.3 Gyroscope
WERC005 30 3.1 -61.2 Gyroscope
WERC005 60 2.3 -62 Gyroscope
WERC006 0 359.6 -61.3 Gyroscope
WERC006 30 1.4 -61 Gyroscope
WERC006 60 359.7 -61.4 Gyroscope
WERC006 90 3 -61.3 Gyroscope
WERC006 102 1.7 -61.7 Gyroscope
WERC007 0 3.1 -61.2 Gyroscope
WERC007 30 2.5 -60.4 Gyroscope
WERC007 54 5 -59.3 Gyroscope
WERC008 0 3.5 -60.3 Gyroscope
WERC008 30 4.3 -58.9 Gyroscope
WERC008 60 4.8 -57.4 Gyroscope
WERC008 72 4.8 -56.7 Gyroscope
WERC009 0 0.8 -60 Gyroscope
WERC009 30 0.8 -58.5 Gyroscope
WERC009 54 0.5 -57.5 Gyroscope
WERC010 0 359.7 -60.8 Gyroscope
WERC010 30 0.8 -69.5 Gyroscope
WERC010 54 359.7 -57.7 Gyroscope
WERC011 0 182.4 -60 Gyroscope
WERC011 30 182.7 -58.9 Gyroscope
WERC011 60 183 -57.6 Gyroscope
WERC011 72 184.4 -56.4 Gyroscope
WERC012 0 2.8 -60.6 Gyroscope
WERC012 30 3.1 -59.4 Gyroscope
WERC012 60 2.9 -59.5 Gyroscope
WERC012 90 3 -57.2 Gyroscope
WERC013 0 181.3 -60.7 Gyroscope
WERC013 30 181.7 -59.8 Gyroscope
WERC013 60 182.1 -60.3 Gyroscope
WERC013 90 184.1 -60.4 Gyroscope
WERC014 0 4.6 -60.5 Gyroscope
WERC014 30 3.8 -59.4 Gyroscope
WERC014 60 4.6 -58.9 Gyroscope
WERC014 90 5.5 -58.5 Gyroscope
WERC015 0 0.6 -75.1 Gyroscope
WERC015 30 1.3 -74.5 Gyroscope
WERC015 60 1.5 -73.7 Gyroscope
WERC015 90 5.9 -73.4 Gyroscope
WERC015 108 7.4 -73.5 Gyroscope
WERC016 0 182 -61.4 Gyroscope
WERC016 30 182.1 -60.8 Gyroscope
WERC016 60 184.5 -60.7 Gyroscope
WERC016 90 185 -60.4 Gyroscope
WERC016 120 188 -60 Gyroscope
WERC017 0 181 -61.9 Gyroscope
WERC017 30 182 -61.3 Gyroscope
WERC017 60 183.4 -61.9 Gyroscope
WERC018 0 3.8 -60.9 Gyroscope
WERC018 30 4.2 -60.5 Gyroscope
WERC018 60 4.6 -59.9 Gyroscope
WERC019 0 2.5 -60.6 Gyroscope
WERC019 30 3.3 -60.1 Gyroscope
WERC019 60 3.4 -59.5 Gyroscope
WERC019 78 3 -58.6 Gyroscope

APPENDIX 3

WEERIANNA DEPOSIT
JORC TABLE 1



APPENDIX
JORC Code, 2012 Edition - Table 1: Weerianna
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections.)
CriteriJORC Code explanation Commentary
a

Samplin· Nature and quality of · Reverse circulation
g sampling drilling was used to
techni ( obtain 1m drill chip
ques e.g. cut channels, samples from which a
random chips, or sample was collected
specific specialised for submission to the
industry standard laboratory for
measurement tools analysis. Diamond
appropriate to the
minerals under drillholes were
investigation, such as sampled at 1m
down hole gamma intervals and half
sondes, or handheld core splits sent to
XRF instruments, the
laboratory.
etc). These examples
should not be taken as · Samples from each RC
limiting the broad interval were
meaning of collected in a
sampling. cyclone and split
using a
· Include reference to
measures taken to 3-level riffle
ensure sample splitter. Wet samples
were grab sampled for
representivity and the assay and the
appropriate residual sample left
calibration of any to dry for later
measurement tools or resampling if gold
systems values were returned
used. in the initial grab
sample.
· Aspects of the
determination of · For 2018 RC
mineralisation that drilling,
are Material to the (
Public drillholes WERC001-
Report. WERC019) 1m samples
were collected for
· In cases where each metre drilled
industry standard via a rig mounted
work has been done cyclone/cone splitter
this would be combination.
relatively simple
( · Several drill
e.g. reverse campaigns were
circulation drilling conducted and samples
was used to obtain 1 m submitted under
samples from which 3 different
kg was pulverised to conditions:
produce a 30 g charge
for fire assay). In · WRC001-WRC024:
other Composite samples
over 4m were
cases, more explanation submitted for Au
may be required, such (20gm AAS) at SGS
as where there is Laboratories, Perth.
coarse gold that has Anomalous 4m
inherent sampling composite samples
problems. Unusual were then re-run by
commodities or fire assay of the
mineralisation types individual 1m
( samples.
e.g. submarine nodules)
may warrant disclosure · WRC025-WRC046 had 1m
of detailed samples sent to SGS
information. Labs for analysis by
AAS determination on
20gm samples after
aqua

regia digestion.
Samples > 0.5 g/t Au
were repeated by fire
assay using a 50gm
sample.

· WRC047-WRC086 were
subject to a similar
laboratory analysis
as above, with
initial AAS
determination after
aqua

regia digestion,
followed by fire
assay analysis on
samples >0.5 g/t Au.
Samples returning >5
g/t Au were
re-checked by fire
assay using a
re-split from the
original coarse
residue.

· WRC087-WRC132 had 1m
samples sent to AAL
for analysis by 50gm
fire
assay.

· Analysis procedure
for WRC133-WRC147 is
not detailed in
technical reports,
however, it is
believed that 1m
samples were
submitted for 50gm
fire
assay.

· WERC001-WERC019 had
1m samples sent to
ALS Perth laboratory
for analysis by ICP
and fire
assay:

o 33 element ICP AES,
4 acid digest, method
code ME-ICP61,
various lower
detection
limits

o Ore grade elements
ICP AES, 4 acid
digest method code
ME-OG62, various
lower detection
limits

o Ore grade As , ICP
AES four acid digest
method code As-OG62,
0.01% lower detection
limit

o Ore grade Au, 50g
fire assay with AAS
finish, method code
Au-AA26, 0.01ppm
lower detection
limit.

Drillin· Drill type (e.g. core,· According to
g reverse circulation, historical annual
techni open-hole hammer, reports, RC drilling
ques rotary air blast, utilised a nominal 4½
auger, Bangka, sonic, inch diameter
face-sampling
etc) and details (e.g. c hammer.
ore diameter, triple or
standard tube, depth · For the drilling
of diamond tails, campaign conducted in
face-sampling bit or 2018, RC drilling
other type, whether utilised a
core is oriented and
if so, by what method, 5.25-inch diameter
drill bit for
etc). down-the-hole hammer
drilling.

· Diamond drillholes we
re drilled using the
HQ triple tube
method.

Drill · Method of recording · Recoveries for
sample and assessing core and diamond holes (DDH)
recove chip sample recoveries were recorded by the
ry and results geologist in the
assessed. field at the time of
drilling/logging.
· Measures taken to
maximise sample
recovery & ensure · Recoveries for
representative nature diamond holes are
of the variable but
samples. generally
poor.
· Whether a
relationship exists · As only 5 diamond
between sample holes were drilled,
recovery and grade and analysis was not
whether sample bias conducted to
may have occurred due determine any
to preferential relationships between
loss/gain of sample recovery and
fine/coarse grade.
material.

Logging· Whether core and chip · Systematic logging
samples have been describes the
geologically and
drill hole lithology
geotechnically logged and quartz veining to
to a level of detail a level of detail to
to support appropriate support appropriate
Mineral Resource Mineral Resource
estimation, mining estimation.
studies and
metallurgical · Qualitative logging
studies. of samples included
(but was not limited
· Whether logging is to) lithology,
qualitative or mineralogy, veining
quantitative in and
nature. Core (or weathering.
costean, channel,
· Geological logging
etc) photography. is qualitative in
· The total length and nature, quantitative
percentage of the logging is not
relevant intersections available.
logged.
· Every metre (100%)
of RC and DD drilling
was geologically
logged and
sampled.

Sub-sam· If core, whether cut · Details of core
pling or sawn and whether sampling have not yet
techni quarter, half or all been found in
ques core historical
and taken.
sample
prepar· If non-core, whether · All pre-2018 RC
ation riffled, tube sampled, samples were
rotary split, collected in a
cyclone and split
etc and whether sampled using a
wet or
dry. 3-level riffle
splitter to maximise
· For all sample types, and maintain a
the nature, quality consistent and
and appropriateness of representative
the sample preparation sample. The majority
technique. of samples were dry.
Wet RC samples were
· Quality control grab
procedures adopted for sampled.
all sub-sampling
stages to maximise · 2018 RC sampling 1m
samples were
representivity of collected from a cone
samples. splitter attached to
a cyclone yielding a
· Measures taken to sample of 2-4kg,
ensure that the
sampling is
representative of the · RC sampling methods
were to industry
in-situ material standard and appear
collected, including appropriate for the
for instance results style of
for field mineralisation.
duplicate/second-half
sampling. · Limited field
duplicates and coarse
· Whether sample sizes residue
are appropriate to the
grain size of the resplits were
material being collected and
sampled. analysed.


· A sample size of
2-4kg was collected
and considered
appropriate and
representative for
the grain size and
style of
mineralisation

Quality· The nature, quality · Samples dried, jaw
of and appropriateness of and roll crushed,
assay the assaying and split and pulverised
data laboratory procedures in a steel mill.
and used and whether the Assays from earlier
labora technique is RC holes analysed by
tory considered partial or AAS determination on
tests total. 20gm sample after
aqua
· For geophysical
tools, spectrometers, regia digestion.
handheld XRF Samples >0.5g/t Au
instruments, repeated by fire
assay on 50g charge.
etc, the parameters Assays from later RC
used in determining holes were determined
the analysis including by 50g fire
instrument make and assay.
model, reading times,
calibrations factors · Assay and lab
applied and their techniques were
derivation, industry standard at
etc. the time of
collection and
· Nature of quality appropriate for the
control procedures style of
adopted mineralisation.
(
e.g. standards, blanks, · No geophysical or
duplicates, external hand-held tools were
laboratory checks) and reported as being
whether acceptable utilised for the
levels of accuracy drilling programs in
( question.
i.e. lack of bias) and
precision have been · Limited historical
established. field duplicates and
coarse residue

resplits were
collected and
analysed.


· For the 2018
drilling campaign,
reference standards
and blanks were
inserted by Artemis
at a rate of 1 in 20
samples and submitted
to ALS Perth
laboratory. Assay
results of these
standards and blanks
give confidence in
the accuracy and
precision of assay
data returned from
ALS Perth
laboratory.

· For the 2018
drilling program,
field duplicates were
also collected every
20
th sample and
submitted to ALS
Perth laboratory.
Results are within
acceptable limits.
Field duplicates were
collected directly
from the cone
splitter fitted to
the drill
rig

Verific· The verification of · A very small number
ation significant of coarse residue
of intersections by samples (40) were
sampli either independent or submitted to an
ng and alternative company umpire laboratory for
assayi personnel. independent analysis.
ng The dataset was
· The use of twinned considered too small
holes. for meaningful
conclusions to be
· Documentation of derived.
primary data, data
entry procedures, data · No twinning of holes
verification, data has been conducted to
storage (physical and date, according to
electronic) historical reports.
protocols.

· Discuss any · Limited verification
adjustment to assay was performed by
data.
Geostat Services at
the time of resource
estimation in
2009.

· No adjustments of
assay data have yet
been discovered in
historical
reports.

Locatio· Accuracy and quality · Historical drilling
n of of surveys used to was performed prior
data locate drill holes to 2000 and as such,
points (collar and down-hole hole locations were
surveys), trenches, surveyed by local
mine workings and contract surveyors,
other locations used and assumed to be
in Mineral Resource accurate.
estimation.
· Downhole surveys
· Specification of the using camera in rods
grid system for RC holes
used. WRC133-146.

· Quality and adequacy Downhole surveys using
of topographic Eastman camera for 4
control. diamond holes WDH002,
032, 103, 106.


· Downhole surveys
using a gyroscopic
instrument (tool
#EG0150 supplied by

Topdrill, operated by
ARV personnel) for
holes
WERC001-WERC019. A
north-seeking
gyroscope was used,
eliminating the risk
of magnetic
interference.

· Grid system used is
MGA 94 (Zone 50),
with conversion of
coordinates to a
local grid for
resource estimation
and
planning.

· Topography surface
generated from
surveyed drill
collars.


Data · Data spacing for · Holes drilled on a
spacin reporting of total of 18 drill
g and Exploration sections with an
distri Results. average 25m spacing
bution along-strike and 20m
· Whether the data across-strike.
spacing and
distribution is
sufficient to · Data spacing is
establish the degree considered sufficient
of geological and for the establishment
grade continuity and classification of
appropriate for the an Inferred resource
Mineral Resource and with respect to this
Ore Reserve estimation style of
procedure(s) and mineralisation.
classifications
applied. · WRC001-WRC024:
Composite 4m samples
· Whether sample were submitted for
compositing has been analysis. Anomalous
applied. 4m composite samples
were then re-run by
fire assay of the
individual 1m
samples. All later RC
holes were not
composited and were
sampled at 1m
intervals.

Orienta· Whether the · Most drill holes are
tion orientation of planned to intersect
of sampling achieves the interpreted
data unbiased sampling of mineralised
in possible structures structures/lodes as
relati and the extent to close to a
on to which this is known, perpendicular angle
geolog considering the as possible (subject
ical deposit to physical
struct type. access).
ure
· If the relationship · Drilling orientation
between the drilling and subsequent
orientation and the sampling is unbiased
orientation of key in its representation
mineralised structures of reported
is considered to have material.
introduced a sampling
bias, this should be
assessed and reported
if
material.

Sample · The measures taken to · As the historical
securi ensure sample drilling was
ty security. undertaken from
1986-1996, detailed
documentation of
chain of custody was
not widespread
industry standard at
that time.


· For 2018 drilling,
calico sample bags
were placed in

polyweave sacks, up to
5 bags per sack.
Sacks from individual
holes were placed
into bulk bags, with
each bulk bag

labelled with:
o Artemis Resources Ltd
o Address of laboratory
o Sample range
· Samples were
delivered on pallets
by Artemis personnel
to the transport
company in

Karratha.
· The transport
company then
delivered the samples
directly to ALS Perth
Laboratory.

Audits · The results of any · Comparisons were
or audits or reviews of made between aqua
review sampling techniques
s and regia and fire assay
data. (repeat) methods on
WRC025 to WRC086 to
assess reliability.
It was considered
that fire assays are
reliable and should
replace aqua

regia assays for
resource modelling
and other
applications.


· Comparison of 628
repeats with original
samples show a close
and acceptable
reconciliation.

· It is acknowledged
that there could be
variability imposed
by the use of three
different
laboratories over the
various programs and
minor variatio

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