Paterson Central

A highly prospective gold-copper project a world-class gold-copper province.

Paterson Central Gold-Copper Project

Tier One Potential – The Paterson Central Project

The Paterson Central Project is located at the centre of a discovery revival in the remote Paterson Province of Western Australia. Hosting the massive 27Moz Telfer Gold mine, Rio Tinto’s exciting Winu Copper Discovery and the huge Newcrest/Greatland Gold Haverion Gold Copper Discovery now under development, the Eastern Flank of the Paterson Province is now amongst the most desirable global exploration destinations for companies seeking potential Tier 1 discoveries in the safe and secure jurisdiction of Western Australia. With this in mind, Artemis has chosen to explore its ground whilst retaining 100% ownership of its landholding thus providing exceptional leverage to exploration success to its shareholders.

Background to the Paterson Central Project

The Paterson Central Gold-Copper Project covers 605 km2 and is located in the Yaneena Basin of the Paterson Province, which hosts large scale mineral deposits, such as the World class Telfer Gold-Copper Mine, recently discovered Winu copper-gold deposit, Nifty Copper Mine, and the rapidly growing Havieron gold and copper deposit. The Company’s Paterson Central project forms a 100% owned exploration tenement E45/5276, which surrounds the Havieron gold deposit on three sides, and covers the same continuous geological domain (Figures 1 and 2).

The geology of the project area consists of Canning Basin sediments, primarily Permian siltstones in this part of the basin, which overlie Proterozoic meta-sedimentary basement rocks which form the main host rocks to large mineral deposits in the region. The sedimentary cover is 300m thick in the western part of the project area and is interpreted to deepen to over 800m in the far east. The Havieron gold and copper deposit is associated with a strong magnetic anomaly and sits under about 450m of sedimentary cover. Mineralisation at Havieron extends over deep intervals to at least 600m below the base of sedimentary cover, where the mineralisation starts, and it continues to remain open at depth. The Company is exploring the Paterson Central Project for both Havieron and Telfer styles of gold and copper mineralisation.

Figure 1: Paterson Central Tenement E45/5276 (yellow outline) with 7 new target areas proposed for drilling, overlying main geological units, and showing locations of major gold and base metal deposits.

Summary of New Targeting at Paterson Central

A detailed review of all Artemis data by Perth based Resource Potentials, led by Dr Jayson Meyers, has led to a revision of initial targets and identification of new targets, to come up with 7 key target zones to each be tested by a single deep drillhole: Juno, Voyager, Enterprise East, Enterprise West, Nimitz, Atlas and Apollo (Figures 2 to 5).

Figure 2: Paterson Central Tenement E45/5276 (yellow outline), with 7 target areas for proposed drilling (yellow dots), interpreted bedrock geology units and structures, on top of a merged magnetic anomaly image, and location of 2D seismic reflection survey line shown in Figure 4.

Phase One Drill Programme

The Company’s Phase One Drill Programme is targeting the completion of 7 holes of about 800m depth each for circa 5,600 total metres. Given the wildcat nature of the drilling, the Company may choose to further extend the scope of the drill programme pending initial results. Given the predominance of E-W parallel sand dunes in the region (Figure 3), access to the northern targets of Juno and Voyager may require extra time and attention. As such, drilling is likely to commence around the more southerly targets located only several kilometres from the Havieron discovery. The Company will report back to shareholders as and when material data is generated from the Paterson Central Project.

Figure 3: Digital terrain model of the Paterson Central tenement (yellow outline) and proposed 7 high priority targets with drillhole locations (yellow dots). An extensive array of linear sand dunes appear as lines trending roughly East-West, with elevation highlighted by hotter colour attributes. The linear sand dunes range in height from between 5 to 15 metres above the relatively flat landscape.

The maiden Paterson Central programme aims to make discoveries of both gold and copper, as well as demonstrate that the mineralising structures and events that led to the formation of the outstanding Havieron discovery are active across the Company’s tenement, which surrounds Havieron on three sides (Figures 2 and 3).

Basis of Targeting – Geochemical Anomaly Corridor

A geochemical target trend has been defined to occur just to the north of Havieron by an extensive ionic leach sampling program, which was completed following initial trial surveys and specialised data analysis by Artemis geologist Allan Younger, who compared duplicate results between ionic leach and mobile metal ion (MMI) methods.  The ionic leach method was then chosen for assaying 456 samples collected in a grid pattern to the north of Havieron, and results from this survey have also been used to target drilling on the Atlas target zone, which also sits over the same North-South trending mafic dyke that extends north from Havieron (Figure 4).

Figure 4: Ionic leach geochemical survey area north of Havieron, consisting of 456 samples collected in a 100×400 metre grid pattern, with a multi-element (Ag, As, Au and Cu) geochemical anomaly trend highlighted (yellow outline) and multi-element anomaly highs (purple outlines), on a colour image of elevated gold, all overlain on a magnetic anomaly image. Locations of planned Artemis drillholes are shown as yellow dots, with their downhole traces projected to surface as black lines.

As reported previously, Artemis sought to undertake a more comprehensive geochemical sampling programme on a grid pattern, however this was curtailed by a significant rain event, with only 456 of the planned ~1,500 samples retrieved before activities ceased.  The Ionic leach process appears to be successful for generating geochemical anomalies that are coincident with structures and geophysical anomalies which are already of interest. The Company will now undertake to complete the unfinished portion of the planned geochemical sampling programme and likely extend its footprint as a future targeting tool over other prospective geological trends at Paterson Central.

Basis of Targeting – Structural, Geophysical and Seismic Data

The majority of the basis for targeting and drill planning has been to follow structural trends in Neoproterozoic bedrock, sitting below thick Permian cover sediments, interpreted from geophysical data sets, including a deep penetrating 2D seismic reflection survey line acquired for oil and gas exploration in the 1980s, and subtle gravity and magnetic highs from features occurring below the sedimentary cover; including a deep sourced ionic leach multi-element geochemical anomaly trend as mentioned above.

Figures 2 and 5 show how the interpretation of geological structures occurring in bedrock below Canning Basin Permian siltstone cover has likely identified a non-magnetic and low density granitic intrusive body, which would have likely been intruded during the regional Crofton Granite event (650-600 Ma).  The location of this interpreted granite also shows up as a non-reflective seismic transparent zone (Figure 5).  This interpreted NW-SE trending granitic intrusion is in close proximity to Havieron (Figure 2), and could be the main source of heat for driving hydrothermal alteration and local skarn-like metamorphism associated with gold and copper mineralisation found at Havieron.  Low angle, West-dipping thrust faults and late brittle cross faults have also been interpreted in the 2D seismic reflection data (Figure 5), as well as in both gravity and magnetic data sets to offset folded Neoproterozoic (850-820 Ma) metasediments of the Lamil Group, which host the Telfer Gold deposit located about 45 km to east, and which are also the likely host rocks to Havieron.

Two target zones in the northern part of the project area, Juno and Voyager, have primarily been identified as strong magnetic anomaly targets located 12 km to the north of Havieron.  They sit on the northern edge of the interpreted granite intrusion, and form along a Northeast trending structural corridor that crosses the Northwest to North-South trending bedrock units, and the North-South trending fault and dyke trend that cross though Havieron to the south (Figure 2).

Figure 5: 3D view looking to the northwest from the South-eastern part of Paterson Central Tenement E45/5276 which surrounds the Havieron magnetic body on three sides, with other magnetic source bodies within E45/5276 identified by constrained modelling of geological sources from below sedimentary cover. A depth converted 2D seismic reflection profile (location in Figure 2) is shown with interpreted layer reflectors (green lines), thrust faults (blue lines), and late brittle faults (red lines), with a seismic transparent zone highlighted in pink, which corresponds to a magnetic and gravity low anomaly zone, and this zone is interpreted to be caused by a granitic intrusion. Note how the Havieron Thrust fault, interpreted from magnetic and gravity anomaly patterns, has also been interpreted in the seismic reflection profile, with the Enterprise East drillhole planned to run parallel to the footwall of this thrust fault in order to test the southern extension of an interpreted structure extending from Havieron. The 4 other planned drillholes surrounding Havieron are designed to test a major Northwest-Southeast trending fold and thrust system along strike from Havieron, late brittle structures, and the mafic dyke extending from Havieron, as well as subtle gravity and magnetic high zones, and an ionic leach geochemical anomaly.

Post mineralisation mafic dykes, such as the North-South trending dyke crossing through Havieron (Figure 2), appear to have intruded along the interpreted late brittle faults, and these faults may have also formed local host structures for gold mineralisation.  The gold mineralised zone at Havieron is interpreted to follow a broad anticlinal fold structure, containing smaller parasitic folds, that extends to the Southeast into the Artemis tenement, and is bounded to the west by the Havieron Fault and to the east by the interpreted granite batholith (Figures 2 and 5).  These coinciding major geological features are considered to have large scale control on gold mineralisation, and interpretation of these major features, and minor mineralisation related structures, has been used to generate targets and design of initial drillholes to test each of the 7 target zones within the Artemis tenure.

Deep Drilling Program

First Artemis drilling campaign completed at Paterson Central Project located next to the Newcrest Mining / Greatland Gold Havieron gold deposit in the Paterson Province, WA.Three deep diamond holes were drilled only 2.5km to the east of Havieron in the Nimitz Prospect area for a total of 3,012m, with 1,151m drilled into Proterozoic bedrock of the Lamil Group, which is the host rock to the Havieron and Telfer gold deposits.

Drilling has provided core samples which provide visual indications that rocks in the Nimitz prospect area have potential to host gold and copper mineralisation. Two drillholes (GDRCD001 and GDRCD003) testing Lamil Group rocks in the west (Nimitz South) are considered the best because they returned multiple zones of particularly intense hydrothermal alteration, with breccias flooded by carbonate-sericite and quartz-carbonate-chlorite veining, all associated with hematite and trace to minor pyrite and chalcopyrite.

All three holes drilled encountered intervals of intense hydrothermal alteration of upper Lamil Group rocks in close proximity to Havieron. This suggests that causative effects of alteration surrounding such a large gold system as seen at Havieron extend into, and occur on, the adjacent Artemis lease directly to the east. This supports the Company’s belief that the Paterson Central licence is very fertile and prospective for large intrusive related gold and copper deposits.

Selected intervals of core were recovered during drilling for immediate assaying and petrological analysis based on visual estimates of alteration and brecciation. Results are from initial field samples are expected to be available early in the New Year, with larger sections of core analysis to follow. Given these highly encouraging preliminary drilling observations, the Company is now planning an expanded 2021 multi-rig drill programme to cover the top priority Apollo and Atlas targets, follow-up drilling at the Nimitz group of targets, and to test the Enterprise targets to the South.