viewArtemis Resources Ltd

Artemis Resources to begin high impact exploration at Carlow Castle Gold-Copper Project

A scoping study will be undertaken following the updated resource estimate with the study aimed for completion by mid-December.

Artemis Resources Ltd - Artemis Resources begins high impact exploration drilling at the Carlow Castle Gold Copper Project
Carlow Castle is a 7.7 million tonnes resource gold and copper dominant orebody with cobalt credits

Artemis Resources Ltd (ASX:ARV) will shortly begin high-impact exploration at the Carlow Castle Gold-Copper Project in WA aimed at exposing the near-surface ore body.

A plan of work has been approved and a bulldozer is expected on the site within a couple of weeks.

CSA Global’s structural team has been engaged to map the exposed ore body which will be integrated into a new geological interpretation.

The interpretation will form the basis for an updated resource estimation with the estimate expected within eight weeks from structural mapping.

Processing plant 80% complete

Artemis’ executive director Ed Mead said: “We have been working hard to determine the optimal strategy for the advancing Carlow Castle gold and copper project.

“With the ore body almost outcropping at surface, a decision has been made to fully expose the mineralisation through bulldozing.

“Exposing the ore body will assist in the delineation of the ore body as well as potentially lowering the cost of the drilling required to further understand this exceptional high-grade deposit.

“The processing plant is now 80% complete for gravity gold and copper concentrate and the gold price is pushing all-time highs – the focus is on fast-tracking Carlow Castle towards production.

“The 425,000 tonnes per annum fully permitted and approved Fox Radio Hill processing plant is a key asset for Artemis and will significantly reduce the cost and time-line to production.”

Carlow Castle is a 7.7 million tonnes JORC resource gold and copper dominant ore body with cobalt credits.

Mead added: “Work with CSA Global is showing that the Carlow Castle resource is potentially amendable to simple high grading without the commensurate drop off in tonnes.

“We are looking to demonstrate a sizeable high-grade, near-surface gold and copper resource with potential strong cobalt credits.”

Scoping study planned

A scoping study at Carlow Castle will be undertaken following the updated resource estimate, with the study aimed for completion by mid-December

A mining tenement application over the resource area will be submitted within the next two weeks and a sub-audio magnetics (SAM) interpretation is also nearing completion with results expected in about a week.

SAM surveying has previously been successfully utilised at Carlow Castle, providing an additional vector to go with geochemical sampling and geological interpretation.

Management is confident that the results of the SAM survey will indicate that mineralisation at Carlow Castle extends to the west and southwest of the resource.

Quick facts: Artemis Resources Ltd

Price: 0.08 AUD

Market: ASX
Market Cap: $82.71 m

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