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Artemis Resources to commence 4,000-metre drill program

Drilling will assist in generating an Exploration Target and increasing the scale and size of the Carlow Castle resource.

Artemis Resources Ltd - Artemis Resources to commence 4,000-metre drill program
Drilling will commence this month and aim to complete by mid-March

Artemis Resources Ltd (ASX:ARV) has designed a 4,000-metre reverse circulation (RC) drill program for its Carlow Castle Gold-Copper-Cobalt Project in Western Australia.

2,400 metres will focus on the SAM survey targets testing strike extensions while the remaining 1,600 metres will test around the resource area to test for depth extensions.

The four SAM anomalies to be drilled are located immediately to the west of the existing inferred resource and notably the original resource was discovered using SAM surveys.

Part of the Project One Million strategy

The drilling program is part of Project One Million, which is a strategy aimed at growing the resource base of the Carlow Castle Project.

Artemis’s executive director Alastair Clayton said: “Project One Million is about to commence. The team is confident of proving up the potential of Carlow Castle as we target growing the already substantial inferred resource at Carlow Castle.”

“As has been recently witnessed with the results out of De Grey Mining with their Hemi prospect in the west Pilbara, exploration drilling in particular is sometimes one of the simplest and effective ways to create shareholder value.

Holes to be tested with DHEM

CEO Ed Mead added: “I am extremely happy to resume drilling at Carlow Castle later this month, with the work program of RC drilling and downhole electromagnetics designed to increase the scale of the project for strike and dip extensions.

“The program has the potential to add ounces to the project before committing to diamond drilling to increase the JORC category to indicated.”

Quick facts: Artemis Resources Ltd

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ASX:ARV
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Market Cap: $21.5 m
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Full interview: Artemis Resources increases gold resource by 60% at Carlow...

Artemis Resources Limited (ASX:ARV) executive director Edward Mead updates Proactive on an upgraded mineral resource estimate (MRE) at the company’s 100%-owned Carlow Castle Project in WA with grade and tonnage boosted. The gold resource alone increased by 60% with copper up 25% and cobalt by...

on 20/11/19

2 min read