Artemis Resources (ASX: ARV) is targeting a major gold zone at its Yandal Project which has a geological setting similar to the 2.3 million ounce Bronzewing and 5.4 million ounce Jundee gold deposits.
The Yandal Greenstone Belt has produced approximately 10 million ounces of gold in the last 20 years, mainly from three mining centres – Bronzewing, Jundee and Darlot.
Artemis has completed a review of the geological setting, geophysics and drilling data from its Yandal project which has identified a number of new target areas that have not previously been tested.
To test the validity of the Bronzewing model at Yandal, the company will carry out several induced polarisation traverses across the Lowlands Prospect, the main palaeodrainages and the nickel gossan area which will be completed in January.
This technique has been successful in identifying deeper seated large gold mineralised systems at various places including Bronzewing and Darlot.
Interpretation of imagery from Artemis’ detailed airborne magnetic survey has identified a number of prominent north-south striking Archaean mafic/ultramafic units immediately north and east of Lowlands.
Archaean mafic rocks, which include dolerites, in areas of known gold mineralistion, such as at Lowlands, have proved to be excellent hosts for large high grade orogenic gold deposits including the Golden Mile Dolerite at Kalgoorlie, the Barton Dolerite at Jundee and the Great Fingall Dolerite at Cue.
Magnetic data also shows the existence of two large palaeochannels which lie over the intersections of these northwest and northeast-striking brittle structures.
These favourable structural settings are often the locus for gold bearing fluids and attendant alteration.
In many cases in the Eastern Goldfields, the primary gold deposits are hidden below depressions containing transported overburden, palaeochannels, and deeper zones of weathering.
Examples include Bronzewing, located within a 50 kilometre radius of Yandal, and the 1.8 million ounce Mt McClure.
A comprehensive drilling program testing the various targets is planned for March.