Artemis Resources has flagged a 5,000 metre-diamond drilling program with a price tag of $1.6 – $1.8 million across its flagship Carlow Castle gold-copper-cobalt project in the Pilbara.
Around 36 holes ranging from 100 – 280 metres depth across Carlow East, Carlow West and East of Quod Est are anticipated to be drilled this quarter.
At Carlow East, three sections will be drilled to confirm interpretation. Currently drilling is interpreted as sub-parallel to dip in in the wide, high grade zones in Carlow East.
At Carlow West, three infill sections on higher grade zones will be drilled to provide confidence.
High priority structural positions inferred from new data to the east of Quod Est will also be tested to improve structural understanding and provide information to improve targeting models for the Stage 2 DDH program.
Stage 1 will provide new core samples for the next phase of metallurgical test work, with the Stage 2 drilling program to be planned once Stage 1 data is processed.
Carlow Castle is a gold dominant orebody with significant copper and valuable cobalt credits. The recently announced resource upgrade increased the resource tonnage to 7.9Mt with the metallurgical work completed to date evidencing the orebody’s amenability to low cost processing options to recover gold, copper and cobalt.
Artemis has set the development target at Carlow Castle as the definition of a minimum 3-year mineable reserve with the next project milestone being a resource upgrade during Q3, 2019.
Shares in Artemis were last trading at 5.6c.