Gold nuggets

So more research guys into our neighbors at Sherlock,

Mt OscarWits (Au, Fe)
We noticed conglomerate gold and wondered if this could be the same vein as the Purdy’s Reward conglomerate zone – so we bought the tenement and renamed it Mt OscarWits - in dedication to the Witwatersrand gold.


The focus on Radio Hill is clearly on the processing plant, but the plant used to run a nickel/copper mine – we now have these resources as well:The Mt Oscar tenement (E47/1217) is interesting, it’s primarily been explored for iron ore, but we noticed conglomerate gold and hypothesised if this could be the same vein as the Purdy’s Reward conglomerate zone – so we bought the tenement and renamed it Mt OscarWits in dedication to the Witwatersrand gold. This tenement is separate to the JV with Novo Resources, hence 100% owned by Artemis Resources.

We’ve completed our due diligence and identified significant gold bearing sedimentary sequences. We think these are part of the Archean aged Fortescue Group and hence can be correlated with the Purdy’s Reward sequence of mafic sediments and polymictic conglomerates located 21km to the south-west.

The Mt OscarWits sedimentary sequences extend over an east-west strike length of 14km with true widths up to 75m thick in outcrops at the Churnside Prospect, with gold currently proven toward the eastern and western ends. The central zone does not appear to have been explored for gold. The conglomerates at Mt OscarWits are quartz rich and ‘cleaner’ than the Purdy’s Reward mafic rich conglomerates. We think this is because the Mt OscarWits matrix “glue” within the conglomerates is primarily quartz sand and the conglomerate fragments consist of quartz and chert pebbles and boulders. The sedimentary sequences at Mt OscarWits appear to have been folded and faulted creating duplication with four units being mapped in several places over the significant strike length. Exploration has focused on the magnetite iron ore and we have a JORC Resource of 126Mt @ 33.8% Fe grade.

The Fairmont prospect has returned the highest gold assay in rock chips of 21.5 g/t Au, this is from a ferruginous pebble conglomerate. We’ve submitted an exploration project to the Department of Mines, Industry Regulation and Safety (DMIRS) for approval; this is for 3,067 metres of trenching, 48,000 tonnes of disturbed tonnage and an initial 840 metres of RC drilling and 250 metres of diamond drilling.

As part of the Mt OscarWits iron ore rock-chip exploration, geologists sampled a conglomerate unit at White Quartz Hill with a peak gold assay of 6.38g/t Au. The conglomerate unit at the Churnside Prospect was sampled with a peak assay result of 10.93 g/t Au (average of 13.9 g/t Au primary and 7.96g/t Au repeat). The 10.93g/t Au sample was recovered from a coarse-grained clast supported cobble conglomerate and likely represents a primary placer style form of mineralisation in a high-energy environment with a high coarse gold component. The mineralised unit is bounded by a larger matrix supported pebbly conglomerate. A significant volume of conglomerates exists within the Mt OscarWits. Based on the recent field inspections, Artemis interprets the conglomerate sequence to be analogous to the Purdy’s Reward prospect and being at the base of the Fortescue Group. This is contrary to the governmental mapping on the Roebourne 1:100,000 mapsheet, which interprets the sequence to be at the base of the older Whim Creek Group and part of the regional Pilbara Supergroup.

Fortuitously, the entire prospective sequence of the Mt OscarWits Project falls entirely within the 117.8km2 Mt OscarWits tenement. There are numerous repetitions of the prospective horizons evident. These horizons appear to have been caused by folding and faulting substantially increasing the prospective strike length.