Artemis Resources (ASX:ARV) has seen its shares jump 23% – albeit to reach a price of 1.6cps – in the first hour of trade on gold rock-chip results.
Those chip samples, it seems, have stood out – first and foremost, because one of them has come in at 553,754g/t gold and 1,305g/t silver.
Another sample came in at 223,056g/t gold and a third at 33,389g/t gold.
While it’s not unusual for rock-chips to turn over very high grade assays – given their nature, and the nature of human fieldwork, only those samples with visible mineralisation are collected – but having rock chip grades in six digits territory is fairly unusual.
While other chip samples came in with grades far more down to earth – including 5.7g/t gold; 1.2g/t gold and 2g/t gold – the company’s emerging prospective area of interest, by its estimations, covers 63ha.,
Grades previously reported from the Titan prospect have included six digit figure gold grades, too. But those were subject to revision – one of which came back, verified, at 692,579g/t gold.
A second, revised, now reads 471,937g/t gold from a previous sampling run.
Management pointed to the lucrative nature of the West Pilbara.
“These results, together with the previously reported gold, silver and copper results, point to the Carlow tenement being a highly prospective region with the potential for a larger scale gold system,” company chief George Ventouras said.
But there was one geotechnical note for investors to consider on Thursday.
“These high-grade gold assays continue the trend found in our original rock chip discoveries at Titan1 by emerging from quartz-iron veining and are therefore not analogous to conglomerate mineralisation,” Ventouras added.
ARV last traded at 1.6cps.
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