Announcement • Aug 22
Artemis Gold Reports Significant Mineralization Intercepts In First Two Diamond Drill Holes In Resource Expansion Program At Blackwater
Artemis Gold provided an update on the Company's resource expansion program, including assays for the first two diamond drill holes. BWDD-26-0001 intercepted 259m at 1.22g/t Au from 309m downhole, including 85m at 2.29g/t Au from 371m downhole. BWDD-26-0003 intercepted 191m at 0.95g/t Au from 163m downhole, including 93m at 1.33g/t Au from 228m downhole. The Blackwater deposit is open to the north, northwest, and at depth. The 2026 resource expansion program is testing the extensions of the deposit with approximately 25,000 metres of diamond drilling and an initial budget of CAD 10 million. The initial two drill holes of the program intercepted multiple significant mineralized zones as described in Tables 1 and 2. These drill holes extended below any previous drilling on the deposit and the results provide further confirmation of the significant scale and potential of the Blackwater deposit. The program started with two drill rigs in the second quarter, with a third diamond drill rig recently mobilized to site. Table 1 – BWDD-26-0001 Significant Intercepts: From 30.45m to 245m, interval 214.55m, Au 0.03g/t, Ag 17.8g/t, Zn 0.24%. Including 31m to 93m, interval 62m, Au 0.02g/t, Ag 46.0g/t, Zn 0.16%. From 309m to 568m, interval 259m, Au 1.22g/t, Ag 3.2g/t, Zn 0.49%. Including 371m to 456m, interval 85m, Au 2.29g/t, Ag 4.1g/t, Zn 0.80%. From 693m to 713m, interval 20m, Au 0.23g/t, Ag 2.6g/t, NSR. From 736m to 913.5m, interval 177.5m, Au 0.37g/t, Ag 11.6g/t, Zn 0.22%. Drill hole BWDD-26-0001 was drilled to a depth of 913 metres and was stopped within high-grade mineralization (>1g/t Au) due to drill constraints. The drill hole intercepted numerous zones of mineralization from the bedrock surface to the end of the drill hole. The high-grade mineralization appears mainly associated with the felsic volcanics and andesites consistent with the main orebody of the Blackwater deposit. Quartz-sericite alteration, locally intense, is frequently observed. Abundant sulphide mineralization occurs throughout the hole including pyrite, sphalerite, pyrrhotite, galena, and chalcopyrite. The drill hole intercepted a high-silver zone near surface within the existing reserve pit shell. The main mineralized zone that sits dominantly below the current reserve pit, starting at 309 metres downhole, showed high gold, silver and zinc values. The current processing facility at Blackwater does not produce any revenue for zinc but the Company is initiating metallurgical testwork to evaluate the potential to do so. The mineralized zone starting at 736 metres showed elevated silver and base metal values. Table 2 – BWDD-26-0003 Significant Intercepts: From 43.05m to 121m, interval 77.95m, Au 0.06g/t, Ag 34.2g/t, Zn 0.30%. Including 43.05m to 70m, interval 26.95m, Au 0.08g/t, Ag 77.6g/t, Zn 0.32%. From 163m to 354m, interval 191m, Au 0.95g/t, Ag 6.2g/t, Zn 0.70%. Including 228m to 321m, interval 93m, Au 1.33g/t, Ag 3.9g/t, Zn 0.70%. From 386m to 417m, interval 31m, Au 0.93g/t, Ag 2.8g/t, Zn 0.49%. Including 397m to 410m, interval 13m, Au 1.50g/t, Ag 3.5g/t, Zn 0.58%. From 444m to 458m, interval 14m, Au 1.56g/t, Ag 4.7g/t, Zn 0.55%. From 500m to 513m, interval 13m, Au 0.48g/t, Ag 5.5g/t, Zn 0.30%. From 524m to 542m, interval 18m, Au 0.55g/t, Ag 9.8g/t, Zn 0.13%. From 692m to 696m, interval 4m, Au 0.73g/t, Ag 1.9g/t, Zn 0.35%. From 815m to 845m, interval 30m, Au 0.31g/t, Ag 7.6g/t, Zn 0.15%. From 912m to 963m, interval 51m, Au 0.43g/t, Ag 3.8g/t, Zn 0.51%. From 1000m to 1016m, interval 16m, Au 0.41g/t, Ag 25.6g/t, Zn 0.11%. Drill hole BWDD-26-0002 was terminated due to drilling challenges and redrilled as BWDD-26-0003 to a depth of 1,134 metres. This is now the deepest drill hole on the Blackwater property. The drill hole was stopped 32 metres after encountering a felsic intrusive. The drill hole intercepted numerous zones of mineralization from the bedrock surface to 1,016 metres. The hole initially intersected felsic volcanics and andesites similar to those described in hole BWDD-26-0001 before encountering a sharp contact with an underlying intrusive granodiorite at 1,101 metres. The drill hole also intercepted a high-silver zone near surface within the existing reserve pit shell. The main mineralized zone, starting at 163 metres downhole, showed high gold, silver and zinc values. Between 386 and 963 metres, the mineralized zones were similar in nature to BWDD-26-0001 with elevated gold, silver and zinc. The intercept from 1,000 to 1,016 metres was notably high in silver, copper and gold, averaging 25.6g/t Ag, 0.22% Cu and 0.41g/t Au over the 16 metres. Two diamond drill rigs are currently operating in a two-shift operation on this resource expansion program. Due to the initial success, Artemis Gold has mobilized a third rig to site to speed up the progress of the program. The regional exploration drill program launched in October 2025 will include 15,000 to 25,000 metres of drilling in up to 150 holes, targeting prospective areas identified through a thorough desktop review of all available exploration data. Over 30 targets within trucking distance of the existing processing facilities have already been identified. The initial drill program is part of a broader and longer-term regional exploration strategy over the next 5 to 10 years to fully test the large and highly prospective land package. Through the end of Second Quarter 2026, 33 holes totalling approximately 5,100 metres have been completed in six targets within the Top Lake and Van Tine areas. Drilling has recommenced and updates will be provided as the program advances and results become available. Table 3: Drill Hole Summary: Drill Hole ID BWDD-26-0001, Easting 375,325, Northing 5,893,500, RL 1,515, Azimuth 180, Dip -75, EOH 914. Drill Hole ID BWDD-26-0003, Easting 375,420, Northing 5,893,500, RL 1,514, Azimuth 180, Dip -75, EOH 1,133. Samples from the resource expansion diamond drilling samples consist of half HQ and NQ drill core except for duplicates (and the duplicated samples) which are quarter core. Drill core was cut using a diamond blade core saw, collected into plastic sample bags and sealed by Artemis personnel at the Blackwater mine site. Samples nominally represent 1m downhole length. Blanks, duplicates and samples of certified reference material were introduced at regular intervals such that ~10% of the total sample stream represented quality assurance /quality control (QA/QC) samples. Samples were tagged with barcodes, placed in wooden crates and a laboratory dispatch form was completed.
