Search

Artemis racks up more high grade assays in Pilbara

ASX listed Artemis Resources has followed up recent spectacular results from its Carlow Castle project east of Karratha in the Pilbara with another set of super impressive gold, cobalt and copper drilling results.

New intercepts include 22 metres grading 6.1 grams per tonne gold, 0.55% cobalt and 2.35% copper from 133m down-hole, including 4m @ 15.07g/t gold, 1.08% cobalt and 4.34% copper from 143m.

Other solid results included a 6m intersection grading 7.89g/t gold, 1.14% cobalt and 1.21% copper from 149m down-hole.

This result was returned from the Carlow Castle South East prospect and mineralisation is still open down-plunge and along strike to the east and west.

Other exceptional results reported included 31m @ 1.65g/t gold, 0.11% cobalt and 0.47% copper from 37m down-hole, incorporating a 4.73m intersection at 7.39g/t gold, 0.44% cobalt and 1.42% copper from 60.27m deep.

The latter result was returned from the Carlow Castle South prospect, 780m west and along strike to the west of Carlow Castle South East.

According to the company, the new drilling at Carlow Castle South shows that mineralisation is still open down-plunge.

The ore zones at Carlow Castle are partly oxidised above 20m and primary sulphide zones – including chalcopyrite, cobaltite and pyrite – then extend to depth.

The main strike of the mineralisation at Carlow Castle is east-west and it is currently defined over a distance of 1.2km.

The high-grade Quod Est prospect mineralisation lies about 200m north and Artemis is seeking to incorporate the three separate high-grade prospect areas into one large mineral resource estimate.

The company will attempt to achieve this by step out and infill drilling to test extensions and continuity of the ore system’s width and grades.

A recent result from Quod Est returned an impressive 6.5m @ 23.44g/t gold, 2.32% cobalt and 10.35% copper from 47m down-hole, which underwrites Artemis’ belief in the broader Carlow Castle project mineralisation becoming economical.

CEO Wayne Bramwell said: “Shallow drilling by Artemis continues to define impressive widths and grades of gold, copper and cobalt at Carlow Castle.”

“Though not fully defined yet, Carlow Castle looks to be a part of a larger mineralised system that is open at depth and along strike. Drilling along strike and at depth could quickly add resource tonnage here.”

The project is located just 35km by road from Artemis’ 100%-owned Radio Hill processing plant, where it will install a new gold processing facility after all approvals are obtained.

In January, the company reported a JORC-compliant indicated and inferred mineral resource for Carlow Castle of 2.3 million tonnes grading 1.3g/t gold, 0.11% cobalt, 0.5% copper and 1.6g/t silver, however that estimate only included small tonnages from Quod Est and Carlow Castle South East, due to the lack of drilling at that time.

The recent high-grade results will go a long way towards consolidating the mineral resource position for the Carlow Castle project and shareholders will no doubt be keen to absorb an updated estimate for the deposits, once the current infill and extensional drilling is completed and all assays are received.

Add your comment

BNIQ sponsored byLPC cresa

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
8thAzure Minerals1650%-24%
86thArtemis Resources146%0%
583rdEmerald Resources-15%42%
632ndKibaran Resources-25%14%
722 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

136th↑Artemis Resources$629k
171st↑Emerald Resources$296k
172nd↑Kore Potash$295k
174th↓Kibaran Resources$285k
175th↓Azure Minerals$272k
507 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Artemis Resources

776thEdward Mead$141k
1081stGuy Robertson$68k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer