Shares in Artemis Resources (ASX:ARV) have gained today after shallow high-grade nickel was intersected at the top of the Radio Hill deposit near Karratha in Western Australia’s Pilbara.
Artemis has now received results from the 80 reverse circulation holes (totalling 7052 metres) drilled at the top of the Radio Hill deposit, which is located only 400m from our Radio Hill plant crushing circuit.
The drilling was designed to delineate the unmined shallow nickel-copper-cobalt mineralisation at Radio Hill.
Best intercepts include 15m at 2.05% nickel, 1.94% copper, 0.09% cobalt from 27m including 3m at 3.37% nickel, 2.05% copper, 0.14% cobalt from 27m including 2m at 2.53% nickel, 1.35% copper, 0.11% cobalt from 32m including 5m at 2.46% nickel, 2.26% copper, 0.10% cobalt from 37m, 7m at 1.9% nickel, 1.07% copper, 0.08% cobalt from 18m.
“These are excellent shallow nickel-copper-cobalt grades and our focus on this deposit is now to calculate the new near surface mineral resource estimates and produce optimised open pit shells,” Artemis’s Executive Chairman David Lenigas said.
With today’s nickel, copper and cobalt prices, we will be working with our independent consultants to assess Radio Hill’s near term open pit potential.”
Due to the success of the RC drilling program, five diamond drill holes (460 holes) have recently been drilled for metallurgical testing and geotechnical design purposes.
The results from this recent diamond drilling are pending.
Artemis is now targeting to upgrade the Radio Hill Mineral Resource estimate by the end of next month.
Shares in Artemis were trading 0.5c higher at 19c at 11am AEST.