Artemis Resources Provides Exploration Update

Artemis Resources (ASX:ARV) provided this update on processing of Moodoo NC87-13, a 1987 Seismic line which coincidently covers the company’s wholly owned Armada Prospect (E45/5276) within the highly prospective Proterozoic Paterson orogen in Western Australia’s East Pilbara region.

As quoted in the press release:

Commenting on the seismic data, Artemis Resources Executive Director Ed Mead said: “The Artemis Board sees the Paterson Ranges as highly prospective and the Armada project as a high value but greenfield area.

“Artemis has defined seven priority targets worthy of follow up that provide a pathway forward, that includes further geophysics, geochemistry and drilling, that could create significant value for Artemis shareholders.

“The reprocessing of the 1987 Moodoo Seismic line focusing on the nearer surface portion of the Seismic data indicates structures of interest, in relation to the HaverIon Project being drilled by Newcrest and around the location of the Orion and Romulan targets identified by Artemis.

“Results from reprocessing are encouraging as they indicate folding within the basement that could be a site for trapping mineralised hydrothermal fluids. A Programme of Work (PoW) application has been lodged for approval to drill these seven priority targets, subject to heritage surveys being conducted.

“Further work will assess the best path forward and further drill results from Havieron will provide more information to generate better target selection.”

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