RE:RE:RE:RE:Artemis Deep Hole ProgressAthelstan wrote: I suspect that DL/ ARV are thinking that the CRA hole did not go deep enough - and in fact did not actually reach granitoid-greenstone basement as they interpreted the drill core at the time. DL said as much on video back in November. They are mining very high grade auriferous conglomerate at a depth of 4km in the Wits basin in RSA. I suspect DL is hoping that the 3.3km drill hole will confirm this and hopes to find additional layers of Au conglo deeper down
Comments?
First off let me say that for a company that doesn't have $69 million in exploration funds on hand, Artemis is bonkers for spending money drilling a deep hole when they have so many other supposed targets to bring to the PEA level. That aside, the hole is in the center of 8 magnetic anomalies and they can run the drill from the mother hole outward to check what's causing the anomalies in addition to seeing if they can find some conglomerate gold. I suspect that in order to get the government help and funding, Artemis had to agree to go deep. In other words, it's mostly a scientific endevor.
Let's say Artemis hits conglomerates the same age as Comet Wells at 2,000 meters. That might indicate that conglomerates are continuous from Comet Wells to the deep hole and dip at a rate of 10% or less to the south. The obvious next step is to drill every 5 kilometers or so north northeast hoping to trace the conglomerates at depth. However, if the nuggets only condition exists region wide, then the deep hole won't hit any gold and they won't know if their wasting their money drilling back towards Comet Wells. Not sure who owns the tenements between the deep hole and Comet Wells. Looks like nobody is interested in drilling along that corridor any time soon so it all looks like a big waste of money to me. Buy what do I know, Artemis's SP has sky rocketed to $0.175 based on the deep hole news.