viewArtemis Resources Ltd

Artemis Resources focusing on building gold ounces at Greater Carlow and drilling at Paterson Central


The company is pushing towards a resource update at Greater Carlow, which is expected to take place once the next round of extensional drilling has been completed.

Artemis Resources Ltd - Artemis Resources aims to build resource ounces at Greater Carlow Gold Project to more than 1 million ounces

Quick facts: Artemis Resources Ltd

Price: 0.072 AUD

Market: ASX
Market Cap: $81.85 m

Artemis Resources Ltd (ASX:ARV) (FRA:ATY) main priorities for the remainder of 2020 are to build resource ounces at the Greater Carlow Gold Project and drilling at Paterson Central in the highly sought-after Paterson Range.

At Greater Carlow, the company aims to delineate in excess of 1 million ounces that are capable of feeding the Radio Hill Plant

In a June update presentation to investors, Artemis outlined its key objectives for Greater Carlow in the West Pilbara as well as Paterson Central in the East Pilbara region of Western Australia.

Artemis is pushing towards a resource update at Greater Carlow, primarily from the Carlow Castle deposit, once the next round of extensional drilling has been completed.

Upcoming feasibility study

Carlow West will be drill-tested next, following up on geochemistry and rock chip campaigns with a further 16 sub-audio magnetic (SAM) targets to also be tested between Carlow Castle and Carlow West.

The company said that once new resources were calculated in the December quarter, a feasibility study for Greater Carlow would then begin.

Discussions with stakeholders including regulators are also well advanced.

In sought-after region

At Paterson Central, on the edge of the Great Sandy Desert and stretching from the East Pilbara to the southern Kimberley, the company is the only junior mining company that retains a 100% interest in its tenure.

This unexplored remote area has become one of the world’s most sought-after exploration provinces following the success by Rio Tinto Ltd (ASX:RIO) and Greatland Gold PLC (LON:GGP).

The only ‘significant’ operation in the region is Newcrest Mining’s (ASX:NCM) Telfer Mine, which has produced more than 12 million ounces of gold and copper since 1975.

Artemis believes that Greatland Gold’s Havieron Gold-Copper Project, at which Newcrest has a 40% earn-in interest and is operator, is possibly controlled by a regional fault and splay corridor that continues into the Paterson Central prospect on tenement E45/5276.

Much of the basin margin and apparent regional fault and splay setting that host Havieron also occur at Paterson Central.

Drilling planned

Systematic exploration of 13 targets across Paterson Central is underway with a clear strategy to discover Havieron-type deposits.

A drilling rig is being contracted now for a maiden drilling program to begin in July with steady news flow expected from the project for the remainder of 2020.

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