Artemis Resources (ASX:ARV) has received rock chip assays from the Titan prospect, as part of the Karratha Gold Project in Western Australia, which exceeded 10,000 grams per tonne gold.
As part of a ground reconnaissance program, three rock chip samples recorded over 10,000g/t gold, and one rock chip recorded 6,520g/t gold.
The ground reconnaissance work was designed to map the prospective surface veins and identify additional fertile structures that may contain gold and copper mineralisation.
Artemis Resources, which has a market capitalisation of $19.16 million, says not only did the ground team uncover and trace several “large-scale” vein trends, they also identified a vein zone with abundant coarse visible gold at Titan.
Executive director George Ventouras says the next steps will allow the company to refine the zones, delineate bona-fide prospects, and work towards more targeted exploration efforts.
“We remain excited by the gold prospectivity that our tenements continue to deliver,” Ventouras says.
“The re-focus of exploration efforts and strategy on a tenement-wide scale is continuing to deliver evidence of multiple new zones for gold mineralisation, which we believe could contain the potential for large-scale deposits.”
Artemis Resources adds that the potential upside remains “large”, not only for Titan, but for tenement-wide prospectivity, as the company believes Titan is not a sole occurrence, but instead a part of a “larger” gold mineralised system.
Further, the company believes that the mineralisation likely extends beyond the Carlow tenement and these trends persist across the Silica Hills and Osborne tenements, leading towards the Lulu Creek prospect, which was recently the receipt of a government grant for co-funded drilling.
The Titan prospect is considered a greenfields discovery and lies within the Carlow tenement and 2km from the Carlow Project, which has a mineral resource of 374,000 ounces of gold.
Write to Aaliyah Rogan at Mining.com.au
Images: Artemis Resources
