Artemis Resources (ASX: ARV) has discovered exceptionally high-grade gold in veins at the Titan prospect as part of its recent ground reconnaissance programme at its Karratha Gold Project, in the Pilbara region of Western Australia.
“We remain excited by the gold prospectivity that our tenements continue to deliver. The re-focus of exploration efforts and strategy on a tenement wide scale is continuing to deliver evidence of multiple new zones for gold mineralisation, which we believe could contain the potential for large scale deposits,” Executive Director, George Ventouras, said.
“The next steps will allow us to refine these zones, delineate bona-fide prospects and work towards more targeted exploration efforts.”
Ground reconnaissance recently completed as a follow up to the previous reported work has delivered further gold occurrences in areas that were previously only lightly explored. This work was designed to map the prospective surface veins and identify additional fertile structures that may contain gold & copper mineralisation.
Not only did the ground team identify and trace several large-scale vein trends, they were also successful in identifying a vein zone with abundant coarse visible gold at the Titan prospect.
The Titan prospect is essentially a greenfields discovery as previous work conducted at this location was limited to broad spaced soil sampling and a constrained moving loop transient electromagnetic survey (MLTEM) programme without any follow up exploration. Titan is located within the company’s Carlow tenement and approximately 2km from the Carlow project where there is a current JORC 2012 compliant Mineral Resource of 374,000oz Au (Au Eq total mineral resource of 704,000 oz AuEq).
Recent work by the company which focussed on the identification of prospective surface veins has resulted in the discovery of a fertile region around the Titan prospect, including a highly mineralised sub vertical quartz-iron vein zone with abundant visible gold. This work involved taking rock chips from surface and exposing the veining below very shallow cover.
The Titan mineralised trend has been tracked for approximately ~700m and appears to remain open under shallow cover. Furthermore, recent field observations suggest it also occurs on a much larger and strike extensive structural zone.
Multiple hard rock gold samples were extracted from the quartz-iron veining with the largest being an estimated 10cm x 4cm.
Importantly, these gold samples are not analogous to the conglomerate hosted mineralisation, Witwatersrand style of watermelon seed gold nuggets as per the Purdy’s Reward and other previously reported discoveries. Instead, these gold occurrences originate from a hard rock source which indicates we are potentially looking at large gold structures, at surface with potential to extend along strike and at depth.
Sampling work was conducted around the Titan prospect with around 300kg material removed. This material was sorted, crushed, separated, gold extracted and a gold bar weighing 10.4 ounces was subsequently produced.