Artemis Resources (ASX: ARV) has provided an update on mineral exploration activities at its 100%-owned Paterson Central Project located in the East Pilbara region of Western Australia.
HIGHLIGHTS:
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First Artemis drilling campaign completed at Paterson Central Project located next to the Newcrest Mining / Greatland Gold Havieron gold deposit in the Paterson Province, WA.
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Three deep diamond holes were drilled only 2.5km to the east of Havieron in the Nimitz Prospect area for a total of 3,012m, with 1,151m drilled into Proterozoic bedrock of the Lamil Group, which is the host rock to the Havieron and Telfer gold deposits.
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Drilling has provided core samples which provide visual indications that rocks in the Nimitz prospect area have potential to host gold and copper mineralisation.
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Two drillholes (GDRCD001 and GDRCD003) testing Lamil Group rocks in the west (Nimitz South) are considered the best because they returned multiple zones of particularly intense hydrothermal alteration, with breccias flooded by carbonatesericite and quartz-carbonate-chlorite veining, all associated with hematite and trace to minor pyrite and chalcopyrite.
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All three holes drilled encountered intervals of intense hydrothermal alteration of upper Lamil Group rocks in close proximity to Havieron. This suggests that causative effects of alteration surrounding such a large gold system as seen at Havieron extend into, and occur on, the adjacent Artemis lease directly to the east. This supports the Company’s belief that the Paterson Central licence is very fertile and prospective for large intrusive related gold and copper deposits.
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Selected intervals of core were recovered during drilling for immediate assaying and petrological analysis based on visual estimates of alteration and brecciation. Results are from initial field samples are expected to be available early in the New Year, with larger sections of core analysis to follow.
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Given these highly encouraging preliminary drilling observations, the Company is now planning an expanded 2021 multi-rig drill programme to cover the top priority Apollo and Atlas targets, follow-up drilling at the Nimitz group of targets, and to test the Enterprise targets to the South.
Alastair Clayton, Executive Director commented: “These three drill holes, our first at the Paterson Central Project, are a watershed in our understanding of the potential for significant mineralised systems across our 605 sq km tenement footprint. The Nimitz group of targets were selected to be drilled in 2020 given relatively easy access from an existing Havieron main track, however, in reality, our highest priority ranked targets, Apollo and Atlas, will be drilled as soon as possible in 2021.
“It is exceptionally significant that drilling has intersected large intervals of intensely hydrothermally altered breccias that are in places hematite overprinted and with trace to minor pyrite and chalcopyrite enrichment from our very first holes, with those testing the Nimitz South area seen as having the most potential. These are precisely the geological textures and features we are targeting and we are looking forward to receiving the first sets of assay and petrography results early in the New Year.
“We are confident that we are generating the correct targets using a combination of geophysics, geochemistry and structural models and the drill core to date clearly demonstrates the geology at Nimitz is indeed fertile for intrusive related gold-copper deposits. By retaining 100% ownership of our licence we provide our shareholders with uniquely unencumbered leverage to continued exploration success in the Havieron area of the Paterson Province. Industry leading consultants Resource Potentials, led by Dr Jayson Meyers, undertook all of the field work during the programme and DDH1 were the drilling contractor.”