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Artemis Resources designs geochemistry program for targets around the Havieron discovery

The Paterson Central project covers 605 square kilometres and is located 40 kilometres east of the Telfer gold-copper mine and is contiguous to the Havieron gold and copper discovery.

Artemis Resources Ltd - Artemis Resources designs geochemistry program for targets around the Havieron discovery
The geochemistry program will cover seven targets around Havieron and commence mid-March

Artemis Resources Ltd (ASX:ARV) has updated plans for its activities in the Paterson Range, with a new geochemistry program designed to cover seven targets around Newcrest Mining Limited’s (ASX:NCM) discovery at Greatland Gold PLC’s (LON:GGP) Havieron Project.

Artemis executive director Alastair Clayton said: “Our 100%-owned Paterson Central Project surrounds the outstanding Havieron Gold-Copper discovery on three sides.

“The planned geochemical programme over seven priority geophysical targets should help generate our very first drill targets.

“We envisage first drilling at our 100%-owned Paterson Central to begin sometime in the second quarter of this year.”

Supported by Newcrest’s data

Reprocessing of the Moodoo 1987 Seismic line, which coincidently covers the company’s wholly owned Paterson Central project, has shown folding and complexity in the basement which has been supported by drilling information released in Newcrest’s December Quarterly report.

Clayton said: “As well as pure proximity, structural interpretation of Havieron released by Newcrest on 30 January supports our belief that not only do regional fault and splay structures that transect Havieron continue into Artemis ground but deformed and folded basement features, as suggested by seismic data, also are possibly present.

“The recent release of the Newcrest model for Havieron is, we believe, highly significant for our Paterson Central project.”

Newcrest and Greatland Gold have set the precedent which Artemis intends to follow by successfully using geochemistry to identify drilling areas at Havieron.

The proposed Geochemistry program target areas are highlighted on the right-hand side.

Proposed program

A soil sampling program has been designed for the area and will be conducted in two parts:

Over the known magnetic and gravity targets a short set of X-Y traverses over three of the targets will be completed; and

The samples will be dispatched for analysis by both mobile metal ions (MMI) and ionic leach techniques.

Greatland Gold uses 200 metres by 200 metres square sampling grid in their work and Artemis’s sample density will be similar.

As soil sampling is low impact exploration, neither heritage or government approval is required.

Potential outcomes

The company expects potential outcomes could include clear geochemical anomalies corresponding to any or all the geophysical anomalies that would strongly enhance the prospectivity and profile of the tenement.

There’s also the chance that ambiguous or negative geochemical responses would continue the current perspective of the area as the soil program will be attempting to obtain signatures of mineralisation greater than 400 metres below surface and has a high risk of failure.

Preparation for groundworks is underway with a crew to be dispatched as soon as ground conditions allow.

Artemis expects the geochemistry program to commence in mid-March.

Quick facts: Artemis Resources Ltd

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