Artemis Resources Limited (ASX: ARV) has reported first results from RC exploration drilling completed in May 2021 at its Carlow Castle Gold-Copper-Cobalt Project, returning “excellent” gold and copper mineralisation.
Results were reported for the first 6 holes of the 9-hole drilling program, with all results occurring externally to the preliminary 2021 resource update shells:
Carlow Castle Project
The Carlow Castle Project is located in the West Pilbara region of Western Australia, ~45 km by road from the city of Karratha.
Important prospects within the project include Carlow Main, Quod Est, Cross-Cut, Good Luck, and Little Fortune prospects.
New exploration drilling campaign
- A new 11,000m RC program is currently underway at Carlow Castle project, which has the potential to substantially enhance the project. The program was planned based on new interpretations for Carlow Castle Main Zone, Quod Est, and Crosscut Area.
- The new program will focus on further expanding several western high-grade shoots, growing the Crosscut deposit, and testing the Good Luck and Little Fortune mineralised systems several kilometres to the south of the main Carlow Project Area.
- Around 2,800 metres are planned to be drilled in Good Luck and Little Fortune areas.
What’s next?
Assays for the remaining three RC exploration drill holes and 6 diamond drill infill holes from the May 2021 program are expected soon.
Further work (RC and diamond drilling) to locate extensions to mineralisation both at depth and along strike is being planned.
“Exploration drilling at the Carlow Project has once again returned some fantastic results and highlights the remarkable overall prospectivity of this large mineralised system”
Management comments
ARV’s Executive Director Alastair Clayton said: “Exploration drilling at the Carlow Project has once again returned some fantastic results and highlights the remarkable overall prospectivity of this large mineralised system to host substantial shoots of very high-grade gold and copper.
Resource work has highlighted the need to better understand the nature and controls on the mineralisation in order to target drilling, such that it grows the project not only in terms of tonnes but in doing so maintains or increases the grade of the Au-Cu resource.
The exploration results from the May programme and the new RC drill exploration campaign now underway are aiming to achieve just that and with multiple areas yet to be drill tested, I am confident substantially more high-grade zones will be identified.
With our Paterson Central access and heritage plans rapidly advancing and Carlow back on track, our shareholders should expect very substantial progress for the remainder of 2021.”
Images: Artemis Resources Limited
