- Minerals explorer Artemis Resources (ARV) has confirmed extensions to the gold-copper-cobalt mineralisation at its Carlow Castle project in the Pilbara
- The project has already shown some promise across a 1200-metre strike zone, and has now been extended at depth
- The zone is still open to the south and east, where exploration has been delayed pending heritage approvals
- Artemis will now continue with further electromagnetic surveying and drilling across Carlow Castle and the new Carlow West area
- The company will also advance metallurgical studies and high-level process flow sheets to create a pathway to viable gold, copper and cobalt production
- Artemis Resources closed 3.2 per cent lower on Wednesday, with shares trading for three cents each
Minerals explorer Artemis Resources (ARV) has confirmed extensions to the gold-copper-cobalt mineralisation at its Carlow Castle project in the Pilbara.
Carlow Castle
The project has already shown some promise across a 1200-metre strike zone.
The reverse circulation (RC) drilling program was aimed at extending the known mineralised zone at depth and down dip to add ounces to future resource updates.
A highlight of the extension drilling was a 43-metre sample with 1.1 grams per tonne gold (g/t), 1.13 per cent copper and 0.12 per cent cobalt, including five metres at 4.17 g/t gold, 2.63 per cent copper, 0.51 per cent cobalt.
The zone is still open to the south and east, where exploration has been delayed pending heritage approvals from the local Ngarluma Aboriginal Corporation, and the approval of the programme of works from the Department of Mines, Industry Regulation and Safety.
Western extension drilling of four sub-audio magnetic (SAM) targets also intersected mineralisation at one target, including two metres at 1.75 g/t gold, 0.3 per cent copper and 0.08 per cent cobalt.
Artemis Resources Executive Director Alastair Clayton says the company is happy with the results so far.
“The first drill programme at the Carlow Castle resource area under Project One
Million has yielded excellent results,” Alastair said.
“As planned, these results increase the mineralised envelope at depth and down dip. This data will be added to a resource update planned for later in the year, following the next phase of RC and diamond drilling,” he added.
Next steps
Artemis will now continue with further electromagnetic surveying and drilling across Carlow Castle and the new Carlow West area.
This program will include follow-up reverse circulation and diamond extension drilling to the south and west of Carlow Castle, pending permit approvals.
A further program of aircore drilling totalling around 6000 metres will also be conducted on 16 more SAM targets at Carlow Castle, plus shallow gold anomalies at Carlow West – pending heritage survey completion for the two areas.
An area-wide structural model by CSA Global is under consideration by Artemis, and is to be completed before further RC or diamond drilling is undertaken.
The company will also advance metallurgical studies and high-level process flow sheets to create a pathway to viable gold, copper and cobalt production.
Artemis Resources closed 3.2 per cent lower on Wednesday, with shares trading for three cents each.