West Australian gold explorer Artemis Resources (ASX: ARV) has provided a revised activities report for the period ending 30 June 2020.
HIGHLIGHTS:
Carlow Castle Au-Cu-Co Project
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Depth extensions to the Carlow Castle gold-copper-cobalt mineralisation in the West Pilbara include:
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43m @ 1.1 g/t Au, 1.13% Cu, 0.12% Co from 86m, ARC 221,
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including 5m @ 4.17 g/t Au, 2.63% Cu, 0.51% Co from 90m;
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3m @ 4.0 g/t Au, 0.36% Cu, 0.19% Co from 201m, ARC216;
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4m @ 2.21 g/t Au, 0.98% Cu, 0.06% Co from 163m, ARC217;
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7m @ 2.89 g/t Au, 0.34% Cu, 0.04% Co from 142m, ARC219; and
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3m @ 4.31 g/t Au, 0.47% Cu, 0.21% Co from 188m, ARC219.
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Carlow Castle western extension drilling of sub-audio magnetic (SAM) targets 1-4 intersected mineralisation at SAM target 4:
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2m @ 1.75 g/t Au, 0.3% Cu, 0.08% Co from 15m, ARC208.
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DHEM successfully acquired mineralisation signature for Carlow Castle.
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A full review of all geology and geophysics is planned before more drilling is undertaken to further grow the mineralised footprint.
Carlow West, Au Project
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Drilling commenced at Carlow West Gold Project, with RC drilling of 11 holes on a single 400m north-south traverse coincident with a series of rock chip assays that ranged between 0.05 – 9.89g/t Au (ASX release 5 November 2018).
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Assays submitted to ALS Global in Perth and expected soon.
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Post quarter end further RC drilling completed at a Carlow West, and over the greater Carlow Castle area. Initial results due soon.
Patersons Central, Au-Cu Project
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Detailed geophysics and structural interpretation commenced including geophysical data reprocessing by industry experts Resource Potentials. Detailed plans for 6-8 hole maiden drill programme across numerous targets on the Paterson Central licence near completion and will be released to the market soon.
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Post-period pre-drilling aerial surveying and mapping and detailed preparation for ground works underway with ground crews to be dispatched as soon as planning phase complete.
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Post-period drill contract signed with DDH1 for Paterson Central with drilling forecast to commence in August.
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Geochemical orientation samples for both MMI and Ionic LeachTM have been received from the respective assay laboratories. Ionic LeachTM has been selected as the preferred assay technique.
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457 samples were taken to the north of Havieron before the geochemistry program was interrupted by wet weather, and these samples are now being processed at ALS Global using Ionic LeachTM assaying technique.
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Further geochemistry to be considered once the 457 samples have been assayed and the results interrogated. Geochemistry has been used successfully at Havieron and regionally and helped identify the area being drilled by Newcrest and Greatland Gold.
Munni Munni PGE Project
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12 hole, 1,928m RC drilling program completed at Munni Munni, with assay data from ALS Global pending.
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The program was designed to:
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Extend primary reef mineralisation and test historical assay grades from diamond drilling using RC drilling.
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Test for the presence of a second reef below the primary PGE reef.
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Generate data that may contribute to a JORC 2012 Mineral Resource Estimate in the future.
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High resolution air-photography to provide detailed images for future project planning purposes.
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Detailed survey of the holes drilled in this program will be completed plus re-survey of approximately 10% (20 holes) of historical holes to validate hole data assisting in JORC 2012 Mineral Resource Estimate.
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Proposed transaction announced to ASX on 28 April 2020 (“Empire Transaction”) is still in progress.
Corporate
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Post-period Capital raise of $5.6m completed in July with the Company issuing 79,992,856 shares at 7 cents each.
