Following the announcement on 10 August 2022 in which the Company stated that the review of recently received drill results from the 100%-owned Greater Carlow Castle Project (the “Carlow Project”) was incomplete, Artemis ordinary shares were temporarily suspended from trading on AIM pending a further announcement.
The Company has now completed its review of the new drill results and is pleased to provide investors with additional information which is outlined below. Assay results are pending for drill hole ARC 395 and ARC396 and a further announcement of the assay results for those drill holes will be made when those assays are received.
On the basis that this announcement represents a full update to the market and that the Company are satisfied that the outstanding assay results for drill hole ARC 395 and ARC 396 are not considered material in relation to the Carlow Project, the Company has requested that suspension of the Company’s ordinary shares from trading on AIM be lifted with effect from 7.30 a.m. today and, accordingly, trading in the ordinary shares on AIM will be restored at 8.00 a.m. today.
· Additional drill results for the Carlow Project have been received
· Crosscut Zone drill results have identified an offset mineralised load to the west, and mineralisation remains open to the north
· Crosscut Zone results include:
o 8m @ 2.44% Cu, 0.24g/t Au, 0.868% Co from 97m Hole ARC403
§ Including 3m @ 3.41% Cu, 0.29g/t Au, 1.257% Co from 100m
o 2m @ 4.71% Cu, 1.01g/t Au, 0.008% Co, from 108m Hole ARC404
§ Including 1m @ 8.78% Cu, 1.91g/t Au, 0.011% Co from 109m
· Carlow West Zone drill results have intersected two areas of mineralisation, one being the Carlow West Zone, while the other a new northwest trending structure
· Carlow West Zone results include;
o 9m @ 2.07g/t Au, 1.22% Cu, 0.050% Co from 95m Hole ARC398
§ Including 2m @ 5.3g/t Au, 4.26% Cu, 0.097% Co from 99m
§ Including 1m @ 5.33g/t Au, 1.67% Cu, 0.044% Co from 103m
o 3m @ 7.57g/t Au, 1.71% Cu, 0.140% Co from 158m Hole ARC401
§ Including 1m @ 19.70g/t Au, 3.97% Cu, 0.274% Co from 160m
o 2m @ 7.07g/t Au, 2.89% Cu, 0.136% Co from 158m Hole ARC402
§ Including 1m @ 12.75gt/ Au, 3.89% Cu, 0.208% Co from 159m
o 12m @ 2.43g/t Au, 0.53% Cu, 0.117% Co from 137m Hole ARC399
§ Including 1m @ 3.11g/t Au, 1.06% Cu, 0.426% Co from 143m
§ Including 2m @ 8.70g/t Au, 1.02% Cu, 0.233% Co from 146m
o 8m @ 2.44g/t Au, 0.24% Cu, 0.868% Co from 97m Hole ARC403
§ Including 3m @ 3.41g/t Au, 0.29% Cu, 1.257% Co from 100m
o 7m @ 1.93g/t Au, 0.41% Cu, 0.011% Co from 112m Hole ARC403
§ Including 1m @ 6.75gt/ Au, 0.57% Cu, 0.020% Co from 118m
· Drill results are in line with management expectations and are expected to contribute to the upcoming new Carlow Project mineral resource estimate. Assay results for holes ARC 395 and 396 are yet to be received and will therefore not be included in the upcoming new Carlow Project mineral resource calculation.
Crosscut and Carlow West Zones
The Crosscut Zone has been interpreted to be a series of north-south striking, high-grade repeating en echelon structures constrained by northwest striking bounding structures. These northwest structures appear to be penetrative structures that cut through the Carlow East Zone.
These structures trend to the north, continuing through the silicified hills and into the plains as shown in Figure 1.
Drill holes ARC403 and ARC404 have tested northern extensions of the Crosscut Zone and intersected grade, confirming that mineralisation continues and is open to the north of the Crosscut Zone.
This intersection confirms that the mineralised envelops had ‘stepped’ over to the west, in true en echelon form.
Additional drilling is proposed to follow this northwest structure.
Drill collars are shown in Figure 1 along with the structures to the north of Crosscut.
Figure 1: Location of drill collars for ARC393 to ARC404. Of particular interest is the location of the mineralisation in holes ARC403 and 404.
Table 1: Significant Intersections for the holes drilled in the Crosscut Zone of the Carlow Project deposit. Intersections cut on Cu% 0.3%, 2m internal dilution.
Alastair Clayton, Executive Director commented “These results from holes designed to test for further extensions of the known mineralised footprint at Crosscut and Carlow West are very pleasing and we look forward to completing and releasing the new Carlow Project resource model in the near future.”
For more information, please visit www.artemisresources.com.au
For further information on the Company, please visit https://artemisresources.com.au/ or contact:
Artemis Resources Limited
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