ASX / Media Announcement 12 February 2018 CSIRO AND ARTEMIS TO INVESTIGATE CONGLOMERATE HOSTED GOLD -KARRATHA, WESTERN AUSTRALIAArtemis Resources Limited (“Artemis” “the company”) (ASX: ARV) is pleased to announce that it is now working closely with the Australian Federal Government’s Commonwealth Scientific and Industrial Research Organisation (“CSIRO”) to investigate the origin of the new style of gold mineralisation found in the conglomerates on the Company’s extensive Karratha mining tenement package in the Pilbara Region of Western Australia. Ed Mead, Artemis’s Executive Director and head of exploration, commented; “The CSIRO is the pre-eminent research organisation in Australia and it is important that Artemis engage with independent leading industry specialists to seek a deeper understanding as to why the gold exists in the conglomerates south of Karratha and indeed how these unique “watermelon” seed nuggets were formed. Artemis has a significant land holding in the area and we are actively seeking to understand the genesis of this unusual type of gold. Gaining a better understanding of these key questions will enable refinement of our exploration and evaluation methods going forward.” The Western Pilbara Region, south of Karratha, has recently attracted significant exploration interest due to the abundance of unique “watermelon” seed shaped coarse gold nuggets found at or close to surface over extensive strike lengths. The gold is typically located within the Archean rocks of the Pilbara region around what is considered to be the unconformity between Mesoarchean Western Pilbara basement and overlying Neoarchean Fortescue Group rocks. The gold is thought to be hosted in metasediments and current exploration models for the region suggest that it could be a paleoplacer deposit, although no substantive independent research has been undertaken in this area. Much of the gold has been reported from conglomerate rock beds around the Mount Roe Basalt, suggesting a possible high energy environment for deposition. The gold nuggets themselves are typically rounded and “watermelon” seed shaped and surrounded by a halo of fine grained gold and the CSIRO study will focus on answering some of the below key questions regarding the location and origin of the gold deposits: • Which lithology/lithologies host the gold deposits? • What is the sedimentological setting of these units? • What is the relationship between host units, gold mineralisation and igneous intrusions/extrusives? • What is the background mineralogy and geochemistry of the host rocks? • What is the alteration mineralogy associated with gold mineralisation? • What evidence is there of high temperature vs low temperature microstructures in the gold nuggets? 2 | P a g e Addressing these questions will hopefully provide a better understanding of the geological background for the gold mineralisation and also tackle the formation mechanism of the gold nuggets. Artemis have chosen to initially focus on the ‘47 Patch’ area located 5km from the Radio Hill processing plant, with further research to expand into the Mt OscarWits area. The existing work at Purdy’s Reward will also be incorporated into the research as further information becomes available. This proposed research outlines an approach that will improve the understanding of the mineralogy, geochemistry, igneous and metamorphic petrology, and sedimentology of the mineralisation using multiscale characterisation from regional mapping to microanalysis. It makes use of CSIRO’s comprehensive team of researchers and advanced analytical techniques to decipher the origin of the Karratha gold and define its characteristics that can be used for conducting more effective exploration. The CSIRO research team that will work on this project is primarily comprised of: • Dr Mark Pearce (mineralogy and microstructures) • Dr Alistair White (geochemistry) • Dr Carsten Laukamp (hyperspectral geology) • Dr Sam Spinks (sedimentology) • Support by other CSIRO staff with experience in igneous geochemistry, economic geology and regional geology, will be available as required. CONTACTS: For further information on this update or the Company generally, please visit our website at www.artemisresources.com.au or contact:
ARV Price at posting:
17.5¢ Sentiment: Hold Disclosure: Held
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