Spectacular drill intercepts for Artemis in W.A.

ASX listed Artemis Resources has returned a knee trembling 132 metre intersection grading 4.89 grams per tonne gold, 0.25% cobalt and 1.11% copper from 98m down-hole in its latest drilling campaign at the emerging Carlow Castle project in the west Pilbara.

From 211 metres down-hole, the same intersection included a 16m hit going a whopping 18.78g/t gold and a scintillating 0.82% cobalt with 2.37% copper just for good measure.

Within that intersection there was a 5m stretch grading almost an ounce to the tonne at 29.74g/t gold, 1.12% cobalt and 3.42% copper.

Other very impressive intersections from the drilling campaign included 53m @ 7.6g/t gold, 0.33% cobalt and 1.57% copper from 151m down-hole and 33m @ 17.29g/t gold, 0.37% cobalt and 2.22% copper from 151m down-hole in a separate drill hole.

Artemis CEO Wayne Bramwell said: “Carlow Castle is new and becoming a significant discovery in the west Pilbara. The gold, cobalt and copper tenor defined by Artemis to date is exceptionally high and the system is open at depth and along strike.”

“Our current drilling footprint only covers an area 500m wide by 1.2km long and the three known targets are rapidly morphing into a much larger system than initially predicted.”

The company said that additional assays are pending and will be released when they become available.

The Carlow Castle project presently consists of three separate deposits at Carlow Castle South, Quod Est and Carlow Castle South East and is located about 35km northeast of Artemis’ Radio Hill processing plant.

The mineralisation strikes in an east-westerly direction for over 1.2km and the company is seeking to join the three deposits into one larger resource that would be more amenable to a future open pit mining operation.

Artemis management said the current phase of drilling is now complete and it is concentrating on updating its highly anticipated mineral resource estimate, once all assay data is received and geological interpretations are finalised.

The mineralisation at Carlow Castle is hosted in chloritic shear zones within an Archaean-aged mafic rock sequence.

The steep dipping ore zones are partially oxidised down to 20-60 metres from surface, with fresh sulphide mineralisation then extending to at least 250m below surface.

It’s shaping up to be an exciting few months for Artemis, as it starts to reveal the true picture at Carlow Castle – the true extent of which is anyone’s guess.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 28/02/19

1 year TSR5 year TSR
250thTitan Minerals0%-52%
587thEmpire Resources-47%13%
603rdBerkeley Energia-49%5%
728thArtemis Resources-63%-2%
737thRange Resources-64%-44%
730 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

$11k Bought
$0 Issued
$0 Issued
Total value as at the date of the transaction
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50th-Titan Minerals$19.4m
51st↑Empire Resources$19.1m
52nd↑Artemis Resources$19.0m
53rd↑Range Resources$17.9m
54th↑Berkeley Energia$15.9m
487 listed resources companies ranked by revenue.
Source: Morningstar

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