Artemis Resources Ltd (ASX:ARV) has completed a reverse circulation (RC) drilling program at Carlow West and the new nearby SingSix target at which broad zones of significant shearing and alteration zones were intersected.
The RC program at Carlow West, which around 11 kilometres southeast of Karratha in Western Australia’s Pilbara region, consisted of 126 holes for 3,694 metres completed across 1.9 kilometres of strike length of the gold target area.
Holes ranged in depth from 24 to 50 metres with the aim of testing beyond the base of weathering to sample representative basement geology.
New priority target
Additionally, a new high-priority area recently identified by Artemis geologists named SingSix, which is halfway between Carlow West and Carlow Castle, was RC drilled for 14 holes for 376 metres.
Samples have been despatched to ALS in Perth for analysis and the company expects the results from both the Carlow West and SingSix drill programs to be available in around three weeks.
Artemis Resources’ Karratha area project locations.
Munni Munni JV
The company’s non-core Munni Munni Project, which is unrelated to the Greater Carlow or Paterson Central projects, is in the process of being divested.
Artemis has been served a writ of summons issued by the Supreme Court of Western Australia as filed by Platina Resources Limited (ASX:PGM), its 30% joint venture partner for this project.
Platina claims that the company and its wholly-owned subsidiary, Munni Munni Pty Ltd, breached the heads of agreement with Platina relating to the Munni Munni Joint Venture as a result of the company entering into an agreement with Empire Metals Ltd (LON:EEE), for the sale of 51% of its interest in Munni Munni.
The company intends to vigorously defend its position and will explore all its options in view of Platina’s claims.