The new Inferred resource measures 7.7 million tonnes at 1.06 g/t gold, 0.51% copper and 0.08% cobalt.
Since January 2018, 12 diamond holes for 1,504 metres and 108 reverse circulation (RC) holes for 15,882 metres have been drilled.
Artemis CEO Wayne Bramwell said: “The 2018 Carlow Castle gold-copper-cobalt drilling program has significantly increased the inferred resource to 7.7 million tonnes.
“The growth in tonnage, in conjunction with our preliminary metallurgical program confirming Carlow Castle’s amenability to low cost processing technology now builds a platform to advance Carlow Castle in a systematic manner.
“The next round of diamond drilling will focus on improving the structural understanding of the resource and better inform proposed extensional drilling.”
READ: Artemis Resources confirms amenability of Carlow Castle gold, copper and cobalt to conventional processing
The results of the metallurgical test work program released last month and this resource update provides Artemis with a basis to plan and advance project development activities.
Development activities include:
• Resource delineation activity including improved definition of existing resources and conceptual mining studies;
• Structural and geotechnical drilling; and
• Generation of a representative metallurgical master composites to characterise existing and alternative low-cost process flow sheets.
Proactive spoke to Artemis last month about the flow sheet work.