- Artemis Resources (ARV) releases an inferred mineral resource estimate for its Greater Carlow gold-copper-cobalt project in WA’s Pilbara region
- The project’s open pit and underground resource make up a combined inferred MRE of 8.74 million tonnes at 2.5 g/t gold equivalent for 704,000 ounces of gold
- Artemis says it’s pleased to have delivered “robust” MRE results even when considering the recent cost increases in the industry
- The company plans to continue exploration work at Greater Carlow to grow the resource even further
- Artemis shares are down 19.23 per cent to trade at 4.2 cents at 2:35 pm AEDT
Artemis Resources (ARV) has released an inferred mineral resource estimate (MRE) for the Greater Carlow project in Western Australia’s Pilbara region.
The gold-copper-cobalt project has a total inferred MRE of 8.74 million tonnes at 2.5 grams per tonne (g/t) gold equivalent for 704,000 ounces of gold.
This comprises an open pit resource of 7.25 million tonnes at 2.4 g/t gold equivalent for 557,000 ounces using a 0.7 g/t cut-off grade, and an underground resource of 1.49 million tonnes at 3.1 g/t gold equivalent for 146,000 ounces using a two g/t cut-off grade.
Executive Director Alastair Clayton said the company had established a “robust, credible, high-grade multi-metal resource” that it planned to continue growing.
“Importantly, this resource has taken into consideration recent industry cost escalation and still returned robust results. There is an adage used in mining that ‘grade is king’; we believe this is as relevant today as it ever was,” Mr Clayton said.
“The next phase at Greater Carlow is to drill and add more high-grade tonnes to the open pit and underground resources, including the high-grade Keel Zone, which is not included in this resource statement.”
The high-grade resource remains open in multiple directions, and further exploration will focus on growing the open pit and underground resources further.
Artemis shares were down 19.23 per cent to trade at 4.2 cents at 2:35 pm AEDT.