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Artemis Resources identifies potential gold-rich conglomerates in west Pilbara super-deep drill hole

Alteration minerals, bleaching and several quartz and pegmatitic veins have been observed.

drill rig in operation
The super-deep hole is destined to reach a depth of over 3,300 metres

Artemis Resources Ltd (ASX:ARV) (FRA:ATY) has further defined the geology surrounding its west Pilbara super-deep vertical target with the hole reaching a depth of 1,348.5 metres.

Initial interpretation shows the basement hard rock is undulating and dips north from the drill hole, with sediments filling in the topography that once would have been hills and valleys.

This means there are potential fertile sites and areas across the Fortescue Basin topography where mafic gold-rich conglomerates can form.

READ: Artemis Resources receives first approval for upgrade to Radio Hill gold processing plant capacity

Artemis will begin a second drill hole, ASD-2, to be drilled by DDH-1 Pty Ltd using a larger 5000 diamond core drill rig.

ASD-2 is expected to provide further understanding of the geology and the nature of contacts between sedimentary rocks and felsic intrusions or basement geology.

A drill site 3.6 kilometres to the west of the first hole has been selected and will initially test to see if the diorite-granodiorite exists in this location, and if not, drill to the basement.

The company's tenements in the Karratha area


READ: Artemis Resources hits varied intrusive bodies in super-deep drill hole

At a depth of 595 metres, the first drill hole entered the Hardey Formation, a series of interbedded sediments and tuffs.

The lithology of the rock changed unexpectedly at a depth of 644.4 metres with an intermediate-felsic intrusive being intersected.

This change from the Hardey Formation at such a shallow depth was unexpected.

At a depth of 901.6 metres the geology changed again to narrow dolerite dykes intersecting the intermediate-felsic intrusive.

The super-deep hole is designed to test the many rock sequences in the Pilbara Basin from surface, reaching a depth of over 3,300 metres.

These rock sequences are not known or are interpreted or inferred to exist based on sparse data that does not explain observed surface mineralisation for diamonds, cobalt, zinc, lead and gold.

Quick facts: Artemis Resources Ltd

Price: 0.031 AUD

Market: ASX
Market Cap: $32.05 m

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