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Artemis Resources boosts Carlow Castle JORC resource by 71%

A future Carlow Castle mining operation could be processed at the Radio Hill plant.

Carlow Castle Project Location Map
Artemis is developing a portfolio of projects surrounding the Radio Hill plant

Artemis Resources Ltd (ASX:ARV) has revealed a 71% increase in the JORC resource at its Carlow Castle Gold-Copper-Cobalt Project in the West Pilbara region of Western Australia.

The new Inferred resource measures 7.7 million tonnes at 1.06 g/t gold, 0.51% copper and 0.08% cobalt.

Since January 2018, 12 diamond holes for 1,504 metres and 108 reverse circulation (RC) holes for 15,882 metres have been drilled.

Artemis CEO Wayne Bramwell said: “The 2018 Carlow Castle gold-copper-cobalt drilling program has significantly increased the inferred resource to 7.7 million tonnes.

“The growth in tonnage, in conjunction with our preliminary metallurgical program confirming Carlow Castle’s amenability to low cost processing technology now builds a platform to advance Carlow Castle in a systematic manner.

“The next round of diamond drilling will focus on improving the structural understanding of the resource and better inform proposed extensional drilling.”

READ: Artemis Resources confirms amenability of Carlow Castle gold, copper and cobalt to conventional processing

The results of the metallurgical test work program released last month and this resource update provides Artemis with a basis to plan and advance project development activities.

Development activities include:

• Resource delineation activity including improved definition of existing resources and conceptual mining studies;
• Structural and geotechnical drilling; and
• Generation of a representative metallurgical master composites to characterise existing and alternative low-cost process flow sheets.

Proactive spoke to Artemis last month about the flow sheet work.

Quick facts: Artemis Resources Ltd

Price: 0.065 AUD

Market: ASX
Market Cap: $67.2 m


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