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Artemis Resources Limited — Capital/Financing Update 2011
Dec 7, 2011
10429_rns_2011-12-07_e1733d4e-3db8-4962-afcf-7d5ab018cbae.pdf
Capital/Financing Update
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ASX Announcement 8 December 2011 YANDAL GOLD PROJECT UPDATE
About Artemis Resources
Artemis Resources is an ASX-listed mineral exploration company with a focus on gold:
Key Gold Projects
Mt Clement (WA) Yandal (WA)
Artemis’ corporate strategy is to maximise shareholder returns through a combination of exploration success and quality project acquisition.
The Company's focus on gold is viewed as an important growth strategy for the company.
Australian Securities Exchange
Code: ARV
Artemis Contact
Guy Robertson Executive Director Tel: +61 2 9078 7670
Tony Dawe Investor Relations Tel: +61 8 9388 0944 Mob: 0405 989 743
A comprehensive review of available Yandal data is nearing completion. This review has already identified a number of new target areas that have not previously been tested by drilling.
Artemis Resources Ltd (ASX: ARV) is presently undertaking further supporting geophysical work at its Yandal project.
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Figure 1. Artemis Yandal Project, Location Plan
The current work includes Induced Polarisation (IP) over areas of known mineralisation with the objective of locating large deeper seated gold mineralised systems. This method has been successful in various areas within the Yandal Belt including Bronzewing and Darlot.
A complete analysis of the ground work currently being undertaken and a detailed plan of the drilling program scheduled for the first quarter of 2012 will be released in January 2012.
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Artemis Resources Limited ABN: 80 107 051 749 Telephone: +61 2 9078 7670 | Facsimile: +61 2 9078 7661 | Email: [email protected] Level 10, 1 Margaret Street, SYDNEY NSW 2000 | PO Box R933 Royal Exchange, NSW 1225 Australia
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YANDAL NICKEL TARGET AT SANDALWOOD
Whilst Artemis is focussed on major gold targets at Yandal, during the year a nickel gossan was discovered at the Sandalwood prospect (Figure 2).
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Figure 2. Sandalwood Magnetic Image Showing Magnetic Komatiite and Location of Nickel Gossans
Samples taken from the Sandalwood gossanous outcrops returned highly elevated nickel and associated chromium values of up to 3670ppm and 4370ppm respectively.
Follow-up ground TEM survey over the gossan area and associated magnetic high outlined four conductors. These conductive bodies might represent economic amounts of nickel sulphides.
The conductors have been modelled and several drill holes have been proposed to test these bodies.
The Company plans to carry out the test drilling in the first quarter of 2012.
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ABOUT ARTEMIS RESOURCES
Artemis Resources Limited is a resources exploration company with a focus on its prospective Mount Clement and Yandal gold projects in Western Australia. These projects have significant exploration potential and close proximity to existing important deposits or producing mines. Artemis aims to develop a significant gold inventory through exploration and acquisitions which have the potential to become mines and create shareholder value.
For further information, please contact:
Guy Robertson Artemis Resources Ltd Tony Dawe Office: +612 9078 7670 Professional Public Relations Email: [email protected] +61 8 9388 0944 Web Site: www.artemisresources.com.au Email: [email protected].
The information in this document that relates to Exploration Results is based on information compiled by Mr Frans Voermans, who is a Fellow of The Australasian Institute of Mining and Metallurgy.Mr Voermans has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Voermans, who is a non-executive Director of the Company, consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
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