Artemis Resources is planning to drill a super-deep +3,300m diamond drill hole on its Balmoral area, about 50km south of its Radio Hill mine and processing plant in the Pilbara.
The aim of the hole(ASD-1) is to test the source of identified rock chip samples and VTEM conductors.
ASD-1 will be drilled in the area where Fox Resources completed a VTEM survey that resulted in the discovery of six new clusters of base metal targets: LEGENDRE, MILLERS WELL, HARDING, BALMORAL, ROSEMARY and MATEBORE2 and 5.
Each of the six clusters identified contain between two and eleven base metal targets, totalling 31 targets overall.
Fox Resources also returned, from very limited exploration, a surface rock chip sample grading 1.93% zinc, 1.58% lead and 0.29% copper near the Harding cluster.
ASD-1 will be drilled ~11km north-west of CRA Exploration Pty Ltd’s diamond drill hole DDH84MF#1, drilled in 1984/85 to a total depth of 2,270 metres intersecting 10.67g/t gold over 0.5m from 1,756m.
“This is a very exciting super-deep hole for Artemis and the drilling of this hole should help answer many questions surrounding the geology and rock sequences in the Pilbara Basin,” Artemis’ Executive Chairman David Lenigas said.
The Pilbara Region of Western Australia is one of the most resource rich areas in Australia and there has been very little exploration at depth. In essence, Western Australia has been spoilt for choice for shallow mineral wealth.
“It’s time that someone started looking for the source of a lot of mineralisation in the Western Pilbara that has fed the many surface deposits of Cobalt, Nickel, Copper, Zinc, Gold and PGE’s, within Artemis’ extensive tenement package south of Karratha.
“It will also be very interesting to see if we can find continuity of the gold recorded at around 1,756m in the nearby CRA hole1 that was drilled back in 1984/85 as we drill this hole to test for the potential of base metals, gold and diamonds,” he added.
Artemis plans to complete a number of down-hole electro-magnetics (EM) surveys to test for conductors whilst the hole is being drilled.
The drill site for ASD-1 will be finalised over the coming weeks and the hole will be drilled to test for base metals, cobalt, gold and diamonds.
Artemis is working through the necessary approvals required to commence drilling and drilling rigs are available in Western Australia capable of drilling holes to this depth.
Artemis was last trading at 20.5c on Wednesday afternoon.