Artemis Resources Limited - Commences Drilling At Yandal Gold Project In Western Australia

11:06 AEST Feb 18, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.

Sydney, Australia (ABN Newswire) - Australian resources company, Artemis Resources Limited (ASX: ARV) is pleased to announce the commencement of drilling at the 100% owned Yandal Gold Project in Western Australia.

The Yandal Gold Project is situated within the highly productive Yandal gold belt in Western Australia which has produced more than 12 million ounces of gold. The Yandal Project lies 90km south of the Jundee Gold Mine (5.4 million ounces) and 30km north of the Bronzewing Gold Mine (2.3 million ounces).

In 2010 independent mining consultants Southern Geoscience identified 12 gold targets at Yandal. Southern Geosience concluded that the Yandal Project has a high potential to host gold. The current programme is focused on testing the Lowlands gold target.

Drilling by previous explorers has shown the presence of good grades at Lowlands. Intersections from past drilling include:

- 24m at 3.2g/t Au (Hole L89)

- 5m at 10.0g/t Au (Hole L34)

- 8m at 6.3g/t Au (Hole L68)

- 14m at 4.0g/t Au (Hole L24)


The Yandal Project is host to the Lowlands, Slav Well, Forked Stick, 6 Mile Well and International gold deposits, each of which has been drilled by previous explorers. Gold mineralisation remains open at all deposits and the Company considers potential exists to increase the size of these deposits substantially with additional drilling.

The Yandal Project has a strategic location within 30km of a 3mtpa gold mine plant at Navigator Resources\' (ASX: NAV) (PINK: NAVZF) Bronzewing Mine.

The drilling is aimed at extending the known Lowlands gold mineralisation and also to test for repetitions of the Lowlands style gold mineralisation in the vicinity of the Lowlands prospect.

The drill programme will consist of 17 RC holes. One vertical hole to 250m will be drilled through the northeast corner of the deposit to test for stacked lenses in the footwall. Other tested surrounding sites have known gold within the same prospective sheared mafic host unit.

Subject to weather conditions, the drilling programme is expected to be completed by the end of March 2011.

The current drill programme will consist of 17 RC holes. One vertical hole to 250m will be drilled through the northeast corner of the deposit to test for stacked lenses in the footwall. Other tested surrounding sites have known gold within the same prospective sheared mafic host unit.

For the complete Artemis Resources Ltd announcement including figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/65259-ASX-ARV-529552.pdf


About Artemis Resources Limited:

Artemis Resources Limited (ASX:ARV) is a maturing resources exploration company with a focus on its prospective Mount Clement and Yandal gold projects in Western Australia. The Company also has exposure to rare earths through its Yangibana (Western Australia) and Buchanan's Creek (Queensland) projects and Uranium through its Mundong Well and TAG II/IV projects in Western Australian and West Africa respectively. Its projects were targeted because of their quality, exploration potential and close proximity to existing important deposits or producing mines.

The Mount Clement Gold project comprises three mining leases and two exploration licenses over 14.5km2 in the Ashburton area of Western Australia, approximately 35km from the operating Paulsen's Gold Mine owned by ASX-Listed Northern Star Resources Limited. As part of its recent acquisition of the nearby Paulsen's Gold Mine, Northern Star Resources also acquired a 20% free-carried interest (to Feasibility Stage) in the 3 Mining Leases at Mt. Clement.



Contact:

David W. Price
Executive General Manager
Tel: +61-2-8221-2255
Email: info@artemisresources.com.au
http://www.artemisresources.com.au