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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (66647)	8/31/2010 9:51:34 AM
From: LoneClone	Read Replies (1) \| Respond to of 194794

Artemis Resources shares rise on more high grade gold at Mt Clement proactiveinvestors.com.au Sydney-based Artemis Resources (ASX: ARV) has reported, as operator of the Mt Clement JV in Western Australia with Northern Star Resources Ltd. (20%), that recent drilling has intersected more gold, silver and copper over a 20m long interval. Mt Clement is located 35km from the operating Paulsen’s Gold mine. Hole ARMCRC007 intersected 20.0m @ 7.32g/t gold, 395g/t silver and 0.78% copper. The intersection includes 11.0m @ 10.69g/t gold, 11.0m @ 318g/t silver, and 11.0m @ 1.07% copper. It also includes 2.0m @ 1,535g/t silver (49 ounces per tonne). Drilling continues to strengthen the average grade of the Mt Clement mineralisation. The intercept is further enhanced by an internal interval of 5.0m @ 14.34g/t gold, 412g/t silver and 1.15% copper at 91m depth. David Price, executive general manager. said “the drilling programme at Mount Clement is exceeding expectations, with the latest high-grade results showing quite extraordinary values." “This is an exciting time for the company as our drilling continues to increase the average grade of, as well as our understanding of the high-grade zone, which we now know to have an impressive average true width of 5m,” he added. Hole ARMCRC007 was drilled from east to west and was aimed at gaining information in the third dimension to establish a true width in close proximity to an historical drill hole (CD004 drilled by BHP in 1979). The hole was deliberately drilled across the high grade zone identified by holes ARMCRC001 and ARMCRC002 to gain a 3-dimensional understanding of the high grade geometry. The hole was designed to cross the high grade lode close to hole CD004, which intersected 8.5m @ 5.8g/t Au and this aim was successfully achieved. Hole ARMCRC007 has confirmed and strengthened the grade of gold in close proximity to CD004 and has increased the 3-dimensional knowledge of the high grade lode. The successful intercept in this hole improves the understanding and geometry of the high grade zone, as well as demonstrating that the gold, silver and copper mineralisation average grade is improving with each hole drilled. With this new 3-dimensional knowledge of the high grade zone, the average true width of the high grade gold zone is now known to be 5m. Each of the 7 holes drilled so far by Artemis has intersected gold mineralisation. The drilling completed so far by Artemis has identified previously unknown and untested targets and the company’s geological team is confident that additional drilling aimed at these targets will continue to grow the size of the known mineralised area. Further drilling to be completed this calendar year will be aimed at establishing a JORC-compliant resource at Mt Clement.