ASX / Media Announcement 15 February 2018
High Grade Gold Results from Purdy’s Reward - Karratha, Western Australia-
Highlights: • Basal conglomerate bulk sampling returns gold grades including 87.7g/t, 46.1g/t, 17.7 g/t, 15.7 g/t and 10.6g/t. • Basement (Dolerite) bulk sampling, below the conglomerates, returned gold grades up to 4.1 g/t. • Bulk sample size has now increased to ~6 tonnes per sample from typically ~300 kg per sample with first results from these larger bulk samples expected shortly.
Ed Mead, Artemis’s Executive Director, commented;
“These excellent bulk sampling results, as received from Novo, clearly show very high grade gold results. The result is from the first of the shallow trenches dug at Purdy’s Reward, near the topographic basement high point for the area, where exposure of the gold bearing units daylight. The 2018 exploration season has now started in earnest.
Gold results from the basement dolerite unit grading up to 4.1 g/t are an extremely interesting development and further work is required to determine the ultimate significance of gold in the zone below the gold bearing conglomerates.
With an improved understanding of the extreme nugget effect at the Purdy’s Reward, increasing the bulk sampling size and a new reliable and consistent processing path now availbale through SGS Minerals, a lot more bulk sampling can be achieved in a shorter timeframe. Once we have the ability to quickly determine gold grade content, we can more accurately define the extent of the gold mineralisation in these conglomerates and the surrounding rocks.
Artemis is also pleased to see Novo’s comments with respect to their Powerline area on their adjacent Comet Well tenement, and the video link of the project within the text of the below release. This is seen as highly encouraging for the prosopectivity of our adjacent Elysian tenements immediately to the west of Comet Well.”
Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARV) is pleased to provide the following update by Novo Resources Corp. (“Novo”) on the Purdy’s Reward Conglomerate Gold Project. Novo is the manager of this project under the 50/50 joint venture arrangements. Purdy’s Reward is located south of Karratha in the Western Pilbara Region of Western Australia.
The relevant parts of the Novo news release (including figures) published on 14 February are shown below, with the addition of the JORC ‘Table 1’ appended to this release to comply with ASX requirements. Novo’s release can be read in full on its website.