Artemis Resources increases Mt Clement

THE DRILL SERGEANT: Gold-focused exploration company Artemis Resources has announced a JORC-compliant resource estimate for the Mt Clement gold project located in Western Australia.

Artemis is the operator of the Mt Clement in a joint venture with Northern Star Resources (20%).

The new estimate indicates a total Inferred Resource of 1,131,600 tonnes at 1.77 grams per tonne gold and 17.0 grams per tonne silver containing 64,400 ounces of gold and 620,000 ounces of silver, for a total of 80,000 ounces gold equivalent.

Artemis said this represents a 58% increase in contained gold over the historical resource estimate for the project, and a doubling of the precious gold and silver metal content.

“The resource increase at Mt Clement is a major step forward and we anticipate further resource increases with additional drilling,” Artemis Resources chief operating officer Guy Robertson said in the company’s announcement to the Australian Securities Exchange.

The company has previously reported relatively high-grade mineralisation at depth associated with the Adit Fault from drilling programs that have been carried out this year.

As things currently stand around 125,000 tonnes at 2.71g/t gold, for 10,900 contained gold ounces, and 75.6g/t silver, for 304,000 contained silver ounces, of the total inferred resource are related to this structure.

Artemis said it has confirmed four targets remain within the immediate resource area, which it considers to have potential to increase the resource and warrant further exploration.

The company is planning a VTEM electromagnetic geophysical survey over the area surrounding mineralisation it has already defined.

The aim of the survey is to characterise the known high-grade sulphide zone and to identify immediate drill targets and potentially additional resources.

The survey is to be carried out over the whole of the Mt Clement project area.

“If this survey proves successful in delineating either extensions to the currently defined high grade sulphide-rich mineralised zone or potential repetitions of this mineralisation, then the company will consider conducting additional resource definition drilling at Mt Clement,” Artemis said.