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HIGH GRADE COBALT, COPPER & ZINC DRILLED AT WHUNDO Karratha, Western Australia

Highlights:

  • Drilling confirms high grade copper, zinc and cobalt mineralisation at Artemis’s Whundo Copper Mine.
  • Potential to substantially enhance resources at Whundo.
  • 36 drill holes drilled for 2,928m.
  • Significant intercepts:
    • 10m at 0.39% Cobalt from 87m (AWRC025) (Incl. 1m at 1.75% Cobalt from 88m)
    • 6m at 6.55% Zinc from 42m (AWRC022)
    • 13m at 3.18% Copper and 3.95% Zinc from 48m (AWRC021)
    • 8m at 1.38% Copper from 77m (AWRC025)
    • 17m at 0.99% Copper from 97 metres in (AWRC025)
    • 5m at 4.24% Zinc from 18m (AWRC027)
    • 12m at 4.46% Zinc from 34m (AWRC027)
    • 12m at 7.17% Zinc from 46m (AWRC027)
    • 13m at 1.98% Copper from 50m (AWRC052)
    • Update on outstanding POWs with the DMIRS.

David Lenigas, Artemis’s Chairman, commented;

“We have now confirmed the presence of significant widths of high grade copper, cobalt and zinc zones at our Whundo Copper Mine, which is located only 15 km from the Radio Hill Plant. These holes will be incorporated in to a new JORC compliant resource estimate prior to the Radio Hill Plant being recommissioned. We also have 7 key POWs in the system with the DMIRS that, on approval, will allow us to move forward with key projects the Company is seeking to do in the next month, including the first meaningful bulk sampling programme for gold at Artemis’s 47 Patch.”

Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV) is pleased to announce that further drilling (Figure 1) to advance the Whundo copper project continues to deliver excellent grades within and also outside the existing resource estimate wireframes. The drilling has been designed to allow gamma gamma density logging of copper rich and zinc rich zones. The drilling is also designed to test extensions to mineralisation where the existing resource model indicated additional potential to delineate new mineralisation within and adjacent to the existing open pit.

A total of 36 angled drill holes (Figure 1 and 2) have been drilled for 2,928 metres.

Mineralisation intercepts are listed in Table 1. Table 2 lists all drill hole information.

The drilling aims to validate historical drill results from vertical drill holes and confirm assay grades from previous drilling, allow downhole density measurements for resource estimation and test mineralisation that potentially exists outside current resource models.

The high grade intercepts occur to the north and east of the old Whundo copper open pit operated by Whim Creek Consolidated in 1977.

Once all assays have been received Artemis will then proceed to revise the existing JORC resource estimate and upgrade it to be compliant with JORC 2012. This will be done prior to the restart of operations at the Radio Hill processing plant.

Click HERE to download this announcement in full, including appendices.
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