Join our daily newsletter At The Bell to receive exclusive market insights
- Artemis Resources (ARV) completes drilling program, hitting “highly encouraging” geology at its Apollo program in Western Australia
- Four holes have been completed to lengths of between 623 metres and 810 metres with a fifth hole lost at 240 metres depth still in Permian cover will restart next rear
- The company says assays to determine the presence of gold are pending, however it believes the mineralisation is similar to that of a nearby mine development
- All core has now arrived at the Radio Hill core handling facility to be cut and logged and samples dispatched for assay early next year
- Shares are in the grey, trading at 7.5 cents at 10:20 am AEDT
Artemis Resources (ARV) has completed a drilling program hitting “highly encouraging” geology at its Apollo program in Western Australia.
The company says works will pause for the summer break, with rigs to likely recommence in late February or early March.
Four holes have been completed to lengths between 623 metres and 810 metres. A fifth hole lost at 240 metres depth to Permian cover will restart next year.
Hole GDRCD007 drilled from the Apollo AP3 pad intersected several zones of geology on the edge and within an approximate 84-metre interval of an altered diorite intrusion. The company says this hole has been plugged at 804 metres and will be re-entered and pushed deeper.
Assays are required to determine that gold is present in these drill cores, however the company believes mineralisation bears a strong resemblance to those at the nearby Havieron mine development.
The company says all core has now arrived at the Radio Hill core handling facility to be cut and logged and samples dispatched for assay early next year. The company also said selected core intervals will be sent for priority assay.
Shares are in the grey, trading at 7.5 cents at 10:20 am AEDT.
