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Artemis Resources (ASX:ARV) - Executive Director, Alastair Clayton - The Market Herald
Executive Director, Alastair Clayton
Source: The Market Herald
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  • Artemis Resources (ARV) has continued to receive encouraging results from drilling conducted at its Carlow Castle Project in Western Australia
  • Drilling yielded grades of up to 9.26g/t gold, 4.94 per cent copper and 0.98 per cent cobalt
  • The miner has recently begun a 10,000-metre drilling program at Carlow Castle which is aimed at extending mineralisation and testing new exploration targets
  • Importantly, Artemis is progressing towards a resource upgrade in the first half of the year
  • Company shares ended the day in the grey at 13.5 cents

Artemis Resources (ARV) has provided an update on drilling at its Carlow Castle Project in the west Pilbara region of Western Australia.

In the first week of the year, Artemis announced it would begin a 10,000-metre drilling program at Carlow Castle to extend the 1.2-kilometre mineralised strike as well as the mineralised extensions to the main zone both down dip and to the east.

A portion of the program is also testing new exploration targets generated from an induced polarisation (IP) survey that is in process.

However, the company is continuing to receive pleasing results from reverse circulation (RC) and diamond drilling conducted last year.

Latest results from the new northern discovery zone include five metres at 4.36g/t gold, 2.67 per cent copper and 0.49 per cent cobalt from 32 metres including two metres at 9.26g/t gold, 4.94 per cent copper and 0.98 per cent cobalt from 33 metres.

At the resource area, infill diamond holes include 21 metres at 1.05g/t gold and 0.49 per cent copper from 190 metres and six metres at 3.42g/t gold, 0.64 per cent copper and 0.43 per cent cobalt from 177 metres including two metres at 7.17g/t gold, 1.43 per cent copper and 0.93 per cent cobalt from 177 metres.

Lastly, Artemis received results from shallow RC holes drilled to the east of the main Carlow Castle resource. These include three metres at 1.52g/t gold and 2.79 per cent copper from three metres and two metres at 1.06g/t gold and 0.11 per cent copper from 43 metres.

"Drilling for resource step-outs, the Northern Discovery Zone and resource infill programmes are all delivering strong gold, copper and cobalt assay results," Executive Director Alastair Clayton said.

"We are working towards a significant resource upgrade later in the first half of 2021, with a further resource upgrade likely before the end of 2021," he added.

Artemis is also set to begin a 1000-metre diamond drilling program tomorrow and once assaying has been completed, CSA Global will conduct an updated structural model for Carlow Castle.

Company shares ended the day in the grey at 13.5 cents.

ARV by the numbers
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