Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Artemis Resources will commence high impact exploration at its Carlow Castle gold and copper project.
  • The announcement comes after a structural review of the project area was conducted by CSA Global, revealing the main ore body is almost breaking through the surface.
  • In addition to the CSA assessment, Artemis Resources has completed a Sub-Audio Magnetics (SAM) survey in the area surrounding the Carlow Castle prospect.
  • Following the surveys, the company is expected to submit a Mining Licence application within the next two weeks.

Artemis Resources will commence high impact exploration at its Carlow Castle gold and copper project.

The Karratha-based project, solely owned by Artemis, will undergo surface bulldozing within the next two weeks after its Programme of Work received government approval.

The announcement comes after a structural review of the project area was conducted by CSA Global. The assessment revealed mineralisation at Carlow Castle is almost breaking through the surface, covered only by a very thin veneer of barren clay.

As a result of the CSA report, Artemis Resources has decided to upgrade the resource categorisation, bulldoze the barren clay and expose the main ore body so structural mapping can take place.

CSA Global will also be responsible for mapping the exposed resource and creating a more precise model of the main ore. Once complete, a scoping study will be conducted to accumulate all knowledge of the Carlow Castle resource for any future drilling programs.

Prior to the assessment, Artemis had made plans to move forward with a two-stage Diamond Drilling Program later this year. The exploration would have included 10 000 metres and 36 drilling holes, following on from a Reverse Cycle Drilling Program conducted in 2018.

Artemis Resources Executive Director Ed Mead said the company had been working hard to find the best way to advance with the Carlow Castle Project following the CSA’s findings.

“Exposing the orebody will assist in the delineation of the ore body as well as potentially lowering the cost of the drilling required to further understand this exceptional high-grade deposit,” Ed said.

In addition to the CSA assessment, Artemis Resources has completed a Sub-Audio Magnetics (SAM) survey in the area surrounding the Carlow Castle prospect. The company conducted the assessment in July to determine if additional gold, cobalt and copper deposits exist beyond the current project area.

While survey results are yet to be released, Artemis has communicated confidence in the results indicating the presence of mineralisation extending to the west and south-west of the resource.

Following the CSA and SAM surveys, the company is expected to submit a Mining Licence application for the Carlow Castle project within the next two weeks.

The announcement made minimal impact on Artemis’ share price, which remained flat at $0.027 as of today’s market close.

ARV by the numbers
More From The Market Herald
MetalsGrove Mining (ASX:MGA) - Managing Director, Sean Sivasamy

" MetalsGrove Mining (ASX:MGA) begins soil sampling at Upper Coondina

MetalsGrove Mining (ASX:MGA) has begun a soil sampling program at its Upper Coondina lithium project in…
Bryah Resources (BYH) - CEO, Ashley Jones

" Bryah Resources (ASX:BYH) raises $1.4m via placement

Bryah Resources (ASX:BYH) has received firm commitments from sophisticated and professional investors to raise $1.43 million…
The Market Herald Video

" Meeka Metals (ASX:MEK) banks fresh capital on sale of Gecko North

Meeka Metals (ASX:MEK) completes the sale of its Gecko North project in Western Australia to LithGold…
Godolphin Resources (ASX:GRL) - Managing Director, Jeneta Owens

" Godolphin Resources (ASX:GRL) receives final assays from Cyclops

Godolphin Resources (ASX:GRL) has received the final assays from the two-hole drilling and soil sampling program…