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Artemis Resources Ltd.
Summary
| Project: | West Pilbara | |
|---|---|---|
| Deposit: | Whundo | |
| Location: | Australia | |
| Commodities: | Copper-Zinc | |
| Date: | 10/26/2018 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 26-10-2018: Artemis Resources Ltd. announces a Resource Estimation report for its Whundo deposit at the West Pilbara project. Amended previous amendment of mineral resource estimate at the project. Artemis Resources Limited (“Artemis” or “the Company”) (A | |
| Resources: | (Resource, Ind.): 2.669Mt @ 1.14% Cu, 1.12% Zn | |
| CP/QP: | [Resources]: Phillip Jones (Al Maynard & Associates Pty Ltd.) | |
| ABSTRACT: | Artemis Resources Limited (“Artemis” or “the Company”) (ASX:ARV, Frankfurt:ATY, US OTC:ARTTF) is pleased to announce a significant improvement in this latest JORC 2012 resource estimate for the company’s 100% owned Whundo Copper Mine in the West Pilbara region of Western Australia. The October 2018 resource estimate is classified to JORC 2012 compliant Indicated category. Artemis’ Chief Executive Officer Wayne Bramwell commented: “Thisresource upgrade hasseen a circa 30% uplift in the Whundo sulphide resource to 2.2Mt and contained copper and zinc metal tonnes has grown significantly to ≈50,000t combined. The shallow oxide resource is entirely new. Whundo was shut down in 2008 due to low copper and zinc prices. It is a valuable asset, considering it is an approved Mining Lease and is so close to our Radio Hill processing plant. The oxide grade of 1.75% Cu is tantalizing and with thiszone extending from nearsurface to ≈40m below surface, Artemis is evaluating the integration of SX-EW processing at Radio Hill. In addition, the larger sulfide zone could provide an additional blending source that could supplement Carlow Castle ore and further enhance copper grade to the Radio Hill Operations.” The Whundo Copper Project is in the West Pilbara region of Western Australia, ≈50 km by road south of the city of Karratha (Figure 2). Access is via the Karratha - Tom Price sealed road and then mine access tracks. Whundo is on a fully approved mining lease and is located only 7 km from Artemis’ 100% owned Radio Hill Processing Plant. Whundo was the last ore to be processed through Radio Hill prior to the sulphide plant being placed into care and maintenance in 2008 due to low copper prices. Artemis recently completed RC drilling of the Whundo Copper deposit, aiming to verify older drilling and to increase the drill data available in the upper levels of the mineralisation. Previous drilling comprised 870 drill holes including open hole percussion, RAB, RC and diamond drilling for a total of approximately 52,586 metres. Artemis has drilled another 64 Reverse Circulation (“RC”) drill holes and 7 diamond drill holes for an additional 5,490 metres in 2018. | |
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