Artemis Resources Limited (ASX:ARV) Mt Clement High Grade Gold, Silver, Copper Mineralised Zone Doubled
Sydney, Feb 14, 2011 AEST (ABN Newswire) - Australian resources company, Artemis Resources Limited (
ASX:ARV) (80%), as operator of the Mt Clement JV with Northern Star Resources Ltd. (20%) (ASX:NST), is pleased to announce that recent long sections generated at the Mt Clement Gold Project highlight the successful extension of gold and silver mineralization achieved from the recently completed drilling program. The high grade gold and silver has been intersected more than 100m south of previous intersections and increases the prospectivity of the high grade mineralised zone for much greater extension possibilities in all directions.
Recent drilling at the Mt Clement Gold Project in Western Australia has at least doubled the high grade sulphide-rich mineralised zone associated with the Mt Clement Adit Fault. This north-south fault has been responsible for emplacement of high grade gold, silver and copper. There are at least 2 more high-grade faults identified and confirmed by drilling, with the potential for 5 high grade faults within the Mining Leases at Mt Clement.
Figure 1 (see link at the bottom of the release) illustrates the knowledge of the high grade zone following the Company's first round of drilling in July 2010. At the completion of this first phase of drilling and prior to the second phase of drilling in November 2010, the understanding of the high grade zone was based on only 2 drill holes at depth; namely ARMCRC001 and ARMCRC002. Figure 1 (see link at the bottom of the release) shows the proposed holes which were planned to increase the dimensions of the high grade zone, particularly towards the south. The drill holes drilled as part of the Phase 2 drilling program in November 2010 succeeded in intersecting very pleasing results, including 11m @ 4.90g/t gold which increased the high grade gold, silver and copper by more than 100m towards the south.
Figure 2 (see link at the bottom of the release) demonstrates the results of the second phase of drilling and the success this phase had in extending the high grade gold, silver and copper mineralization significantly. Each hole drilled by ARV succeeded in intersecting the lode and has resulted in a large increase in the dimensions of the mineralization (100m southerly extension). The results from this second phase of drilling open up a large target for in-fill and extension drilling in all directions. The limits to the Adit Fault have not yet been encountered and the high grade gold, silver, copper zone remains open in all directions.
Figure 3 (see link at the bottom of the release) shows the location of the north-south longitudinal section which is centered on the high grade gold-, silver-, copper-rich Adit Fault. Two long sections have been generated looking towards the east at the location of the Adit Fault. These long sections clearly show the increased dimensions of the high grade Adit Fault and the continuing potential to the north, south and at depth.
On Figure 3 (see link at the bottom of the release), two additional high-grade faults are also shown. These additional two high grade faults have not been thoroughly explored and offer the potential for large increases in tonnage and corresponding gold ounces.
The Company is targeting a large mineralized north-south trending, high grade fault. Gold grades and the width of the fault along its length are expected to vary. This is seen in Figure 2 (see link at the bottom of the release) where hole ARMCDD001 encountered 1m @ 2.40g/t gold and hole ARMCRC001 encountered 6.0m @ 8.80g/t gold. These 2 holes are 24m away from each other and display typical variation expected in most gold deposits.
Executive General Manager of Artemis, Mr David Price says "The continuing success of the Artemis drill holes in intersecting gold, silver and copper is highly encouraging and demonstrates that the Mt Clement mineralized body is consistent and continuous". Exciting targets for further drilling have been exposed from the results of the second phase of drilling and the Company is aiming to continue extending mineralisation at Mt Clement.
For the complete Artemis Resources Limited announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/65215-ASX-ARV-528813.pdf
About Artemis Resources Ltd
Artemis Resources Limited (ASX:ARV) (FRA:ATY) is a resources exploration and development company with a focus on its prospective West Pilbara (gold, base metals, platinum and platinum group elements) and Mt Clement-Paulsens (gold) project in Western Australia. On 16 December 2016, Artemis announced the signing of a binding conditional agreement with Fox Resources Limited for a 3 month exclusive option to buy their fully permitted AGIP 425,000tpa Radio Hill nickel and copper operations, processing plant and associated mining and exploration tenements with significant existing JORC 2004 and 2012 compliant resources of Nickel, Copper and Zinc situated within a 15 km radius of the Radio Hill plant, for a total consideration of $3.5 million. The Radio Hill Plant is located 35 km south of Karratha in the Pilbara Region of Western Australia.
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