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Artemis hits multiple minerals at depth in Pilbara

Artemis Resources’ Carlow Castle project in the Pilbara is arguably one of the most intriguing finds this year with the latest drill results now indicating strong potential for a multi-mineral ore body at depth.

The latest results returned a notable 25 metre intersection grading 3.38 grams per tonne gold, 0.24% cobalt and 0.77% copper from 228 metres down-hole including 5m @ 9.62g/t gold, 0.65% cobalt and 0.79% copper.

Other shallower results include 43m @ 0.99g/t gold, 0.16% cobalt and 1.05% copper from 66m down-hole, 34m @ 1.27g/t gold, 0.06% cobalt and 1.34% copper from 47m down-hole and 9m @ 3.45g/t gold, 0.21% cobalt and 0.83% copper from 50m down-hole.

Further assays are still pending from the current campaign and will be released over coming weeks.

Artemis Chief Executive Officer Wayne Bramwell said: “The latest results continue to support our view that there are multiple mineralising events and deeper extensions existing within the larger Carlow Castle system.”

“Artemis is on track for a resource update in Q4 and post this, additional extensional and in-fill drilling is planned to define the broader scale and the internal controlling structures of this emerging Au-Co-Cu deposit.”

The company plans to carry out more diamond drilling to assist with future structural and geotechnical studies.

Future drilling following the resource update will target further strike extensions and seek to infill some sections to define the major controlling structures of the ore body.

Earlier this month, the company discovered a 17m intersection grading 1.86g/t gold, 0.61% cobalt and 0.05% copper from 88m down-hole at the Quod Est prospect

Infill and extensional drilling at the Carlow Castle South East and Carlow Castle South prospects also returned more wide, high-grade ore intercepts.

At Carlow Castle South East, new results include a solid 33m, multi-commodity intersection going 2.68g/t gold, 0.28% cobalt and 2.11% copper from 117m down-hole, including 3m @ 14.83g/t gold, 1.04% cobalt and 5.95% copper from 138m.

Over at Carlow Castle South, two new intersections of strongly mineralised gold-cobalt-copper were reported in separate holes, including 7m @ 10.65g/t gold, 0.15% cobalt and 0.72% copper from 101m down-hole and 11m grading 5.12g/t gold, 0.43% cobalt and 2.07% copper from 109m down-hole.

Carlow Castle continues to spit out significant multi-element numbers each time Artemis sinks the drill bit.

It will be very interesting to see just where this project ends up and which mineral ultimately takes centre stage in this very interesting polymetallic find.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 28/09/18

1 year TSR5 year TSR
540thBerkeley Energia-18%25%
547thArtemis Resources-19%14%
691stTriangle Energy Global-43%-18%
720thEmpire Resources-50%-5%
739 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

01/12/17
$0 Issued
01/12/17
$0 Issued
Total value as at the date of the transaction
Source: Morningstar

Revenue

52nd↑Empire Resources$19.1m
53rd↑Artemis Resources$19.0m
55th↑Berkeley Energia$15.9m
56th↑Triangle Energy Global$13.8m
510 listed resources companies ranked by revenue.
Source: Morningstar

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