This
announcement contains inside information for the purposes of
Article 7 of the UK version of Regulation (EU) No 596/2014 which is
part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended ("MAR"). Upon the publication of this announcement
via a Regulatory Information Service, this inside information is
now considered to be in the public domain.
5 February 2024
SignIficant new LITHIUM pegmatite discoverY on 100% owned
Artemis resources tenement
ROCK CHIP
ASSAYS RETURN PEAK OF 1.82% Li2O
MINERALISATION CONFIRMED AS SPODUMENE
FURTHER
EXPLORATION PROGRAMS UNDERWAY
_______________________________________________________________________________
Highlights:
·
Ground reconnaissance sampling from 100% owned Artemis Resources tenement
E47/1746 delivers positive assay results including:
o 23AR01-17
- 1.82%
Li2O
o 23AR01-16
- 1.62%
Li2O
o 23AR01-15
- 0.78%
Li2O
·
Mineralisation confirmed by XRD (x-ray
diffraction) as being Spodumene
·
Further reconnaissance and follow-up sampling to
be undertaken across E47/1746
Artemis Resources Limited ('Artemis' or the
'Company') (ASX/AIM:
ARV) is pleased to provide
this update to shareholders on its recent ground reconnaissance
program which has resulted in a significant lithium pegmatite discovery
at the Mt Marie Lithium Prospect.
Executive Director George Ventouras commented "These rock chip
results are a vote of confidence in the new technical team and the
methodologies they've employed to explore for lithium bearing
pegmatites on our 100% owned tenements. Importantly for the Company
and the region, this discovery is further evidence of a potential
corridor of lithium mineralisation extending beyond 40km in the west Pilbara region,
where Artemis' tenements are located.
We
are further encouraged by the geological structure of the
pegmatites which appear to be coarse grained and feature
large spodumene crystals
and may parallel the Azure Minerals Andover discovery. We are
excited by this development and looking forward to undertaking
further work on our 100% owned tenement package".
Mt
Marie Lithium Prospect
A small program of ground
reconnaissance was undertaken towards the end of 2023 and targeted
several key areas as identified by the new technical team. Our
ground team was deployed and through the use of new on-ground
techniques, the team was able to target and test various
pegmatites.
Figure
1. Artemis Resources West Pilbara
tenements
In total, 24 new target areas in the
northern and central sector of tenement E47/1746 have been
identified and the Company will continue to systematically explore
these to determine which are host to lithium bearing
pegmatites.
Figure 2
Mt Marie Lithium Prospect
Aerial surveying via the use of
drones has commenced to fully map these areas and to assist with
follow up sampling plans and will be completed shortly. Following
this, further rock chip sampling will be undertaken across the
tenement.
Figure
3. Pegmatite outcrop at Mt Marie
Lithium Prospect
The initial rock chip assays have
delivered encouraging results and include the following;
· 23AR01-17 -
1.82%
Li2O
· 23AR01-16 -
1.62%
Li2O
· 23AR01-15 -
0.78%
Li2O
· 23AR01-21 -
0.65%
Li2O
· 23AR01-22 -
0.50%
Li2O
Two of the rock chip samples were
tested for mineralogy type at Curtin University. This analysis has
confirmed that the host mineral for the lithium is spodumene. The spodumene crystals are
large (figure 5) and do not exhibit deformity to the extent of
other nearby discoveries. These samples and their subsequent
structure would appear to parallel the geological fingerprint of
the pegmatites at the Andover project of Azure Minerals where they
have reported an exploration target of 100-240mt @ 1.00-1.5%
Li2O1. Azure Minerals is currently
subject to a takeover proposal via a joint bid with SQM and Hancock
Prospecting2.
The lithium bearing pegmatite at the
Mt Marie prospect occurs along a mirrored or similar NE structural
trend to pegmatites discovered by Azure Minerals some 20km to the
east.
Figure
4. Spodumene crystals in Pegmatite
from the Mt Marie Lithium Prospect
1ASX Announcement, Azure Minerals Ltd, 7 August 2023
2ASX Announcement, Azure Minerals Ltd, 19 December
2023
Figure
5. Spodumene crystal from the Mt
Marie Lithium Prospect
Figure
6. Pegmatite outcrop at the Mt Marie
Prospect
Further work on the tenements
including drone surveying, rock chip sampling, soil sampling and
other appropriate ground reconnaissance techniques will continue in
the coming weeks to determine the extent of the mineralised
envelope.
In addition, further work is being
planned on the Osborne Lithium
Project which is a joint venture with Greentech Metals
(ASX:GRE) (ARV:49%-GRE:51%).
This announcement was approved for
release by the Board.
Artemis Resources Ltd
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George Ventouras, Executive
Director
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george.ventouras@artemisresources.com.au
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WH
Ireland Limited (Nomad & Broker)
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|
Antonio Bossi / James
Bavister
/ Isaac Hooper
|
Tel: +44 20 7220
1666
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About Artemis Resources
Artemis Resources (ASX/AIM: ARV;
FRA: ATY; US: ARTTF) is a gold, copper and lithium focused
resources company with projects in Western Australia. The Mt Marie
Lithium Prospect, the Osborne Lithium JV (Artemis 49%; GreenTech
Metals (ASX:GRE) 51%) and the Carlow Castle gold-copper-cobalt
project in the West Pilbara; and the Paterson Central Gold/Copper
project in the Paterson Province (located adjacent to Greatland
Gold / Newcrest's recent gold-copper discovery at
Havieron).
Artemis also owns the Radio Hill
processing plant, located only 35km from Karratha.
For more information, please
visit www.artemisresources.com.au
Competent Person
Statement
Adrian
Hell, BSc (Hons), MSc, an advisor and consultant to the Company, is
a Member of the AUSIMM, and has sufficient experience which is
relevant to the style of mineralisation and type of deposit under
consideration to qualify as a Competent Person as defined in the
2012 edition of the 'Australasian Code for Reporting of Exploration
Results, Mineral Resources and Ore Reserves'. Adrian Hell consents
to the inclusion in the report of the information in the form and
context in which it appears.
Dr Martin Wells (PhD). The sample
testing was carried out in the John de Laeter Centre at Curtin
University. Spodumene was identified using a proprietary automated
mineralogy technique and confirmed using x-ray diffraction (XRD)
analysis by Dr Martin Wells (PhD). Dr Wells is a Research Fellow
(Mineralogy/Petrology) and an authority in lithium ore deposits as
evidenced by his authorship of the 2023 Geological Survey of
Western Australia Report 228 (The geology,
mineralogy and Geometallurgy of EV materials deposits in Western
Australia;
https://dmpbookshop.eruditetechnologies.com.au/product/mriwa-report-m532-geology-mineralogy-and-metallurgy-of-ematerial-resources-in-wa.do).
Dr Martin Wells consents to the inclusion in the
report of the information pertaining to sample analyses undertaken
at the John De Laeter Centre in the form and context in which it
appears.
Significant Results > 0.5%
Li2O
Sample Id
|
Easting_m
|
Northing m
|
Cs ppm
|
Li ppm
|
Li2O%
|
Nb ppm
|
Rb ppm
|
Ta ppm
|
23AR01-015
|
497743.00
|
7696974.00
|
81.2
|
3650
|
0.78%
|
48.3
|
856
|
84.4
|
23AR01-016
|
497750.00
|
7696969.00
|
46
|
7510
|
1.62%
|
46.1
|
1695
|
61.8
|
23AR01-017
|
497758.00
|
7696969.00
|
33.2
|
8440
|
1.82%
|
123.5
|
823
|
104
|
23AR01-021
|
497820.00
|
7696984.00
|
214
|
3020
|
0.65%
|
28.4
|
3970
|
38.6
|
23AR01-022
|
497804.00
|
7696984.00
|
70.2
|
2330
|
0.5%
|
25.9
|
2720
|
44.9
|