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Artemis Resources Ltd

Artemis Resources outlines 5,000-metre program at Carlow Castle

Planned diamond drilling aims to upgrade the March 2019 resource to the Indicated category.

diamond drill rig
The company is working towards defining a minimum 3-year mineable reserve

Artemis Resources Ltd (ASX:ARV) is planning a two-stage 10,000-metre drill program at its Carlow Castle Gold-Copper-Cobalt Project in Western Australia.

The first 5,000-metre diamond program will test Carlow East, Carlow West and east of Quod Est and is planned to commence this quarter subject to funding and board approval.

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 the September quarter.

READ: Artemis Resources to focus on gold producer status via Carlow Castle

Artemis recently completed a strategic review and reset of its priorities that confirmed Carlow Castle as the prime development asset.

The board agreed that the immediate focus for the company will be to systematically advance its gold assets and third-party toll-treating opportunities to provide sufficient ore to underpin the orderly transition to production at its 100% owned Radio Hill processing plant.

The planned stage I drilling represents the company’s plan to focus on becoming a gold producer through the development of Carlow Castle.

Drilling will also provide new core samples for the next phase of metallurgical test work.

Metallurgical work completed to date supports the orebody’s amenability to low-cost processing options to recover gold, copper and cobalt.

Quick facts: Artemis Resources Ltd

Price: $0.03

Market: ASX
Market Cap: $20.98 m
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