ASX / Media Announcement 30 January 2018
High grade Nickel/Copper/Cobalt Project Licence Granted
- Karratha, Western Australia-
Highlights:
• Ruth Well Nickel/Copper/Cobalt Project licence approved by DMIRS.
• 11 metres @ 4.3% nickel, 1.5% copper, 0.13% cobalt, from 55m (RWRC218),
? including 3 metres @ 13.1% nickel, 1.0% copper, 0.35% cobalt from 59m;
• 3 metres @ 6.0% nickel, 1.2% copper, 0.18% cobalt from 69m (RWRC230),
? including 1 metre @ 13.8% nickel, 1.7% copper, 0.41% cobalt, from 70m;
• 4 metres @ 5.4% nickel, 3.0% copper, 0.17% cobalt from 79m (RWRC220),
? including 1 metre @ 15.9% nickel, 6.7% copper, 0.49% cobalt from 81m
• Located 12km north of Artemis’s Radio Hill Nickel/Copper/Cobalt treatment
plant.
David Lenigas, Artemis’ Executive Chairman, commented;
“The Ruth Well Nickel/Copper/Cobalt deposit was one of the key assets acquired by
Artemis in December last year as part of the Elysian transaction1
. The fact that Ruth
Well is only 12 km from our Radio Hill base metals plant, which is scheduled for re-start
in June this year, makes it very strategic. Our plans are to get drilling here as quickly as
possible and see if we can add Ruth Well in to the Radio Hill plant feed schedule.
Previous drilling has intersected high grade nickel/copper and cobalt close to surface
making it amenable to open pit mining if the economics add up.”
Artemis Resources Limited (“Artemis”) (ASX: ARV) is pleased to announce that the
Western Australian Government’s Department of Mines, Industry Regulation and
Safety (“DMIRS”) have granted the 27.39 km2 Ruth Well Exploration Licence 47/3487.
The Ruth Well nickel deposit is situated only 12 km from the Company’s Radio Hill
treatment plant (refer Figure 1 for location of Ruth Well and Radio Hill).
Drill intersections of high grade nickel mineralisation have been previously reported
by Fox Resources Ltd in November 20072
, are as follows:
• 11 metres @ 4.3% nickel, 1.5% copper, 0.13% cobalt, from 55m (RWRC218),
? including 3 metres @ 13.1% nickel, 1.0% copper, 0.35% cobalt from 59m;
• 3 metres @ 6.0% nickel, 1.2% copper, 0.18% cobalt from 69m (RWRC230),
? including 1 metre @ 13.8% nickel, 1.7% copper, 0.41% cobalt, from 70m;
• 4 metres @ 5.4% nickel, 3.0% copper, 0.17% cobalt from 79m (RWRC220),
? including 1 metre @ 15.9% nickel, 6.7% copper, 0.49% cobalt from 81m.