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Artemis Resources fields better than expected ionic leach sample assays that highlight Apollo and Atlas potential within Paterson Central

Mobilisation for drill testing of the top ranked Apollo and Atlas targets, as well as other targets, potentially in early Q2 2021.

Artemis Resources Ltd -
Selected core photographs from Artemis deep diamond holes at the Paterson Nimitz prospect

Artemis Resources Ltd (ASX:ARV) has received better than expected ionic leach soil sample assays further highlighting the large, top-ranked Apollo and Atlas targets within the wider Paterson Central Project in Western Australia, north of the Havieron gold-copper discovery.

During a drilling program at Nimitz prospect last year, the exploration team also carried out soil sampling by walking along 18 survey lines oriented to parallel sand dunes.

Samples were collected at 942 locations within inter-dune swale areas with an average line spacing of 750 metres and along line sample spacing of 100 metres.

The company also received assays from 71 core grab samples taken r-side from 1,151 metres of basement diamond core at the Nimitz prospect during the December quarter of 2020.

Results include:

  • Sample 89042 - 0.79 g/t gold, 476ppm copper, 59.5ppm bismuth and 2.56ppm tellurium, a 5-centimetre quartz-carbonate vein hosted in dolerite from 829 metres;
  • Samples 89015 & 89016 - 0.26 g/t gold, 1,565ppm copper, 45.5ppm bismuth and 4.26ppm tellurium, an 11-centimetre quartz-carbonate vein calcarenite sandstone from 614 metres; and
  • Sections of diamond drill core from GDRCD002 and GDRCD003 are being cut around these and other anomalous zones with assays expected in 6-8 weeks from core despatch.

“Proximal to a large mineralising system”

Executive director Alastair Clayton said: “The 71 grab sample values reported are very much in line with our expectations.

“In-field initial core observations and subsequent petrographic analysis suggested that Nimitz drilling was proximal to a large mineralising system, possibly related to the event causing Havieron 2.5 kilometres to the west.

“Our exploration team took these 71 grab samples back in November and December whilst drilling to provide some more immediate data.

“Most Nimitz drill core and all of hole GDRCD003 only arrived at Radio Hill from the remote drill site in early January.”

Data to assist next drilling program

He said the one interesting result in sample number 89042 had resulted in Artemis core-cutting and sampling around that interval to see if any further gold was present.

“This additional data will also assist the planning of drill vectors for the next program at Nimitz and provide useful geological baseline data for all other Paterson Central targets.”

Soil sample ionic leach assay results

Soil samples were collected using protocols designed by ALS so that samples could be assayed using their proprietary Ionic Leach method for extremely low-level element detection from deep sources

The ionic leach geochemical anomalism corresponding to the Apollo, Atlas and Enterprise East and West prospects provides additional confidence on the potential of these high priority prospects for deep drill testing.

Any new and significant geochemical anomalies from extending ionic leach sample surveying further south in the upcoming field season will also be considered for drill testing.

The ionic leach gold anomalism evident over the company’s two highest-ranked structural and geophysical targets at Apollo and Atlas has prioritised them for the next round of drill testing.

“Primed for large exploration campaign”

Clayton continued: “Pleasingly the expanded ionic leach soil geochemical program has returned some excellent coincident gold, silver and copper anomalies which are evident over our two highest-ranked structural and geophysical targets at Apollo and Atlas further de-risking these large, compelling targets.

“Two new soil geochemical targets have been identified at Viking and Lexington and look comparable to Enterprise West and East.

“We have yet to grid test the northerly targets at Juno and Voyager or areas to the south of Enterprise with soil sampling, and this will be undertaken in Q2 2021.

“The Paterson Central Project is now primed for a large 2021 exploration campaign as soon as all approvals and logistics are in place.

“Our exploration team has now acquired valuable local experience which will help optimise and accelerate the 2021 drill program.”

Quick facts: Artemis Resources Ltd

Price: 0.098 AUD

Market: ASX
Market Cap: $111.4 m

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