8 Targets Identified Near Havieron Discovery - Paterson Ranges
(firmenpresse) - 8 Targets Identified Near Havieron Discovery - Paterson Ranges
Highlights:
- Artemis Armada Prospect covers an area of ~600km2 in the highly prospective Paterson Province of Western Australia, surrounding Greatland Gold Plcs Havieron Project to the north, south and east (Figure 1).
- Artemis airborne magnetic surveying has identified eight (8) compelling areas of interest within 22 km radius of Havieron.
- Greatland Gold Plc have released the following drilling results to date:
- HAD005 - 275m at 4.77g/t gold and 0.61% copper from 459m, including:
- 118m at 3.08g/t gold and 0.84% copper from 459m, and
- 157m at 6.04g/t gold and 0.44% copper from 660m. *
- HAD001 - 121m at 2.93g/t gold and 0.23% copper from 497m.**
- HAD003 - 21m at 3.79g/t gold and 0.44% copper from 418m***, including
- 1m at 29.12g/t gold and 0.4% copper from 428.5m.
- KZINTI target is directly along strike from Havieron and based on this survey the magnetic unit is ~1km long.
- Gravity survey planned to assist with drill targeting.
17 January 2019 - Artemis Resources Limited (Artemis or the Company) (ASX: ARV, Frankfurt: ATY, US OTC: ARTTF) is pleased to provide this update on a recently completed airborne magnetic survey conducted on its 100% owned 605 km2 Armada Prospect (ELA 45/5276) within the highly prospective Proterozoic Paterson orogen, located approximately 40km east of the multi-million-ounce Telfer Gold-Copper mine, and contiguous to the Haverion gold and copper discovery (Havieron) by Greatland Gold Plc, in the East Pilbara region of Western Australia.
Ed Mead, Artemis Executive Director, commented;
The drilling results from Greatland Gold on their Havieron gold copper discovery near Telfer are quite extraordinary.
The latest airborne survey undertaken by Artemis has now identified a large number of very prospective exploration targets surrounding Havieron, with the Kzinti Target as close as only 2.5 km away and on the Greatland/Artemis tenement boundary. Artemis surrounds Havieron on three sides and right now we see this project as one of the most exciting in the Companys extensive Pilbara tenement portfolio.
*HAD005 - Announced by Greatland Gold on 19th November 2018
**HAD001 - Announced by Greatland Gold on 25th June 2018
***HAD003 - Announced by Greatland Gold on 4th July 2018
OVERVIEW
The recent airborne survey covers the western 47% of the Armada tenement and was flown in late November 2018. This survey consisted of 3,311 line-kilometres with a line spacing of 100m at a nominal flight height of 35m and has provided high quality data for our geophysical consultants, Southern Geoscience to process. The survey has identified eight (8) targets within a 22 km radius of Havieron with these targets arbitrarily ranked on magnetic signature/structural character (Figure 1).
https://www.irw-press.at/prcom/images/messages/2019/45659/ARV EM Results Havieron_Final EMPRcom.001.jpeg
Figure 1: Artemis Aeromagnetic data, reduced to pole - 1st vertical derivative merged with Greatland Gold Plc magnetic data.
Southern Geoscience Consultants initial review have identified the following targets:
KAZON (Priority 1) - This magnetic unit is ~1km long, striking ~ENE-WSW, terminating against the extensive ~NNW-SSE striking magnetic unit on eastern end (directly along strike from Havieron), structural complexity striking ~ENE-WSW and ~NW-SE.
FERENGI (Priority 1) - A magnetic unit is ~2km long, striking ~NE-SW - curvilinear in nature, possibly along strike of KAZON structural complexity striking ~NW-SE and ~N-S (terminating eastern end of this magnetic unit?).
BOLIAN (Priority 1) - This magnetic unit is ~1-1.5km long. Distortion/flexure in the extensive overall ~N-S striking magnetic unit (directly along strike from Havieron) from ~N-S to ~NNW-SSE, some apparent thickening or circular zonation in the magnetic unit, structural complexity striking ~NW-SE.
KZINTI (Priority 1) - Based on the recent detailed magnetic survey data this magnetic unit is ~1km long. Distortion/strike change in the extensive overall ~N-S striking magnetic unit (directly along strike from Havieron) from ~NE-SW to ~N-S, structural complexity striking ~NW-SE.
ARCADIAN (Priority 2) - Low amplitude, broader magnetic unit perhaps at deeper bedrock level, >2km length, striking ~NNE-SSW, structural complexity striking ~NE-SW and ~N-S.
EDOSIAN (Priority 2) - Adjacent to the tenement boundary, based on our recent detailed magnetic survey data this magnetic unit is >1km long although may extend W/NW off tenement, terminating against the extensive ~NNW-SSE striking magnetic unit on eastern side (directly along strike from Havieron), structural complexity striking ~NW-SE.
OCAMPA (Priority 2) - Low amplitude, linear magnetic unit perhaps at deeper bedrock level, >2km length, striking ~ENE-WSW, structural complexity striking clearly ~NE-SW and ~N-S.
VIDIIAN (Priority 2) - Based on the recent detailed magnetic survey data and surrounding regional magnetic data, this magnetic unit is ~3-4kms long, striking ~NW-SE, structural complexity on the western and eastern ends. Likely a SE extension of the Greatland Gold - Scally Wag linear/extended magnetic trend.
Artemis has also undertaken reprocessing of open file seismic data collected from the Moodoo seismic survey line NC87-13. This data was acquired 1987, processed and initially interpreted to determine the hydrocarbon prospectivity of the Mesozoic sediments overlying the Proterozoic Patterson Province geology.
Since then there have been significant advances and improvements made in processing techniques which appreciably enhance and improve resolution of stratigraphy and more importantly structures. Full results of this depth reprocessing will be available later in January. The information obtained is not expected to have direct exploration application but will provide valuable additional information on structures, thickness of cover which can be integrated with the gravity data to improve modelling of targets.
This line passes approximately 2.5km southeast of Greatland Golds Havieron Prospect.
LOOKING FORWARD
Further processing/inversion and interpretation of the magnetic data is underway, and a gravity survey has been recommended to further assist with drill targeting and ranking of the targets. Planning is underway for this gravity survey.
The proposed gravity survey will assist in defining the highest-ranking targets, where gravity anomalism is defined coincident/proximal to the AMAG anomalism. The possibility exists that finding gravity anomalies with no/very subtle magnetic signatures will also be identified.
The magnetic inversion modelling and interpretation will proceed as soon as possible and the gravity data will be merged as it becomes available.
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
ed.mead(at)artemisresources.com.au
T: +61 407 445 351
Wayne Bramwell
Chief Executive Officer
wayne.bramwell(at)artemisresources.com.au
T: +61 417 953 073
David Tasker
Chapter One
Media Contact
T: +61 433 112 936
https://www.irw-press.at/prcom/images/messages/2019/45659/ARV EM Results Havieron_Final EMPRcom.002.jpeg
COMPETENT PERSONS STATEMENT
The information in this announcement that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Allan Younger, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Younger is a consultant to the Company. Mr Younger 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 Younger consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.
COMPETENT PERSONS STATEMENT
The information in this announcement that relates to Geophysical Exploration Results is based on information compiled by Mr Russell Mortimer, who is employed as a consultant to the company through geophysical consultancy Southern Geoscience Pty Ltd. Mr Mortimer is a member of the Australian Institute of Geoscientists and a member of the Australian Society of Exploration Geophysicists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Mortimer consents to the inclusion in the report of matters based on 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 and 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.
Leseranfragen:
Datum: 17.01.2019 - 12:56 Uhr
Sprache: Deutsch
News-ID 586457
Anzahl Zeichen: 13126
contact information:
Town:
Wien
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 155 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"8 Targets Identified Near Havieron Discovery - Paterson Ranges
"
steht unter der journalistisch-redaktionellen Verantwortung von
Artemis Resources Ltd. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
