Artemis Resources’ share price gained ground today after the diversified explorer reported bumper nickel grade of up to 11.15 per cent nickel from a drilling campaign at its Ruth Well project in the Pilbara.
Ruth Well is located only 12km north of Artemis’s Radio Hill Nickel/Copper/Cobalt treatment plant which is currently being upgraded and recommissioned.
An initial 38-hole reverse circulation drilling campaign, for 2838 metres, at Ruth Well included an intercept of 13 metres at 2.14 per cent nickel, 1.19 per cent copper, 0.07 per cent cobalt, 0.6 g/t gold, 0.6g/t palladium from 55 metres including 2 metres at 8.74 per cent nickel, 3.12 per cent copper, 0.26 per cent cobalt, 1.58g/t palladium from 57 metres including 1 metre at 11.15% nickel from 57 metres.
We are now looking at something potentially quite significant at Ruth Well on the Nickel/Copper/Cobalt front, which is located only 12 km north of our Radio Hill Operations. Artemis’s Executive Chairman David Lenigas said.
“We are seeing excellent nickel grades over significant widths, with very high copper and cobalt credits, and we now have a lot of newly identified shallow targets to drill over a potential 3.5 km east-west strike in the Ruth Well area.
“Drilling will re-commence as soon as we receive further POW approvals from the DMIRS. We are eager to start drilling again to see if this new nickel area can form part of our future nickel production strategy through Radio Hill.”
Further drilling to take place once Programme of Works (POW) are approved by the government.
An Initial single diamond drill hole for 80m completed and currently being lithogically and geotechnically logged. Once this is completed the diamond core will be cut and sent for assay.
Today’s news comes after recent drilling results from the Radio Hill Nickel Copper Cobalt deposit where Artemis is targeting to grow a base metal resource base for the Radio Hill Operations.
Shares in Artemis were trading 1c higher at 19.5c in morning trade on Wednesday.