Artemis Resources reports bonanza gold-silver assays from surface sampling at Titan prospect

Ground reconnaissance work by owner Artemis Resources (ASX: ARV) has highlighted the emergence of a broad mineralised area at the Titan prospect within its Karratha gold project in Western Australia.

Up to 97 surface samples collected from in-situ veining delivered bonanza assays exceeding 55 grams per tonne of gold, with newly-discovered silver grading more than 1,000g/t.

The distribution of significant surface rock chip gold assays across a broad area at Titan, along differing structural trends, could suggest a larger mineralised system than previously thought.

Best assays

The best results included 553.8g/t gold and 1,305g/t silver, 223.1g/t gold and 1,195g/t silver and 33.4g/t gold and 233g/t silver.

These new assays add to previous over-limit and high-grade results, including 692.6g/t gold and 3,000g/t silver, 471.9g/t gold and 1,775g/t silver and 45.1g/t gold and 344g/t silver.

They are believed to indicate the emergence of a broad mineralised quartz-iron oxide veining area covering 0.63 square kilometres, which is considered to remain open pending further exploration.

‘Highly-prospective region’

Executive director George Ventouras said Titan was emerging as a promising target within the Carlow tenement.

“These results, together with the previously reported gold, silver and copper results, point to Carlow being a highly-prospective region with the potential for a larger-scale gold system,” he said.

“The high-grade gold assays continue the trend found in our original rock chip discoveries at Titan emerging from quartz-iron veining and are therefore not analogous to conglomerate mineralisation.”

“We are looking forward to further gold exploration at Titan and over the greater Carlow tenement.”

Minimal exploration

The Titan prospect is located towards the northern part of the Carlow tenement in the state’s West Pilbara region.

Titan has been subject to minimal historic exploration, which included broad-spaced soil sampling and a constrained moving loop transient electromagnetic survey.

Artemis followed up preliminary ground reconnaissance completed in August with a second phase of sampling, which confirmed the earlier over-limit assays and identified further mineralised areas through the discovery of additional high-grade, previously untested quartz/iron-oxide veins.