Artemis Resources (ASX: ARV) (Artemis or the Company) is pleased to report a high-grade gold intersection in the first RC hole testing an interpreted NE trending shear zone at the Titan East Prospect, 1.5km west of the Carlow gold-copper resource1.
Highlights
- First Reverse Circulation (RC) drill hole to test an interpreted shear zone at the Titan East Prospect produced an outstanding intersection of 5m @ 13.1g/t gold from 132m down hole in 25ARRC006. There is no previous drilling along the shear zone.
- The high-grade gold intersection is associated with vein quartz within a 20m mineralised interval which includes other elevated gold assays between 0.1g/t Au up to 0.78g/t gold.
- Assay results awaited from a second RC hole, 25ARRC024, drilled 50m east of 25ARRC006 which intersected several intervals of vein quartz starting from 28m depth.
- The interpreted NE trending shear zone which hosts the gold intersected in 25ARRC006 is covered by transported sediments and is parallel to the Regal Thrust, which outcrops as a prominent chert ridge 300 metres to the south.
- Diamond drilling is planned to start late November to determine orientation of the quartz veins and potential for extensions along the interpreted shear zone.
Significant intersection – 25ARRC006 (all assays received):
- 5m @ 13.1 g/t Au from 132-137 m, including 3m @ 20.9 g/t Au from 133m.
- The high-grade gold intersection is associated with abundant vein quartz.
- High-grade gold occurs within a 20m interval of elevated gold values from 131m.
Step-out hole – 25ARRC024 (assays pending):
- Several intervals of vein quartz identified between approximately 28m and 57m.
- Vein quartz occurs within altered and sheared ultramafic, mafic and sedimentary units.
- Hole 25ARRC024 also appears to have drilled through the interpreted shear zone.
Jozsef Patarica, Executive Director, commented:
“Titan East is a brand-new, shear-hosted gold target just 1.5km from Carlow. Hitting 5m @ 13.1 g/t Au in the first RC hole is an excellent start and supports our strategy to build scale around Carlow by finding additional, nearby gold resources. Given the very encouraging gold intercept we have arranged for diamond drilling to begin in late November to define the true widths and orientation.”
“While we await more assays from the RC drilling, these results have greatly increased our confidence in the potential at Titan and the wider Carlow area. Apart from the three diamond holes drilled in the March quarter which returned a very promising result of 1m @ 16.6g/t Au and the recent 18 RC drill holes, Titan is completely untested.”
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