Carlow Castle Drilling Confirms AU-CU-CO Mineralisation Extends at Depth and Down Dip

    Published on May 6th, 2020

    HIGHLIGHTS

    • Depth extensions to the Carlow Castle gold-copper-cobalt mineralisation in the West Pilbara include:

    o 43m @ 1.1 g/t Au, 1.13% Cu, 0.12% Co from 86m, ARC 221 including 5m @ 4.17 g/t Au, 2.63% Cu, 0.51% Co from 90m;
    o 3m @ 4.0 g/t Au, 0.36% Cu, 0.19% Co from 201m, ARC216;
    o 4m @ 2.21 g/t Au, 0.98% Cu, 0.06% Co from 163m, ARC217;
    o 7m @ 2.89 g/t Au, 0.34% Cu, 0.04% Co from 142m, ARC219;
    o 3m @ 4.31 g/t Au, 0.47% Cu, 0.21% Co from 188m, ARC219.

    • Carlow Castle western extension drilling of sub-audio magnetic (SAM) targets 1-4 intersected mineralisation at SAM target 4:

    o 2m @ 1.75 g/t Au, 0.3% Cu, 0.08% Co from 15m, ARC208.

    • DHEM successfully acquired mineralisation signature for Carlow Castle.

    NEXT STEPS

    • Planning and permitting underway for follow-up RC/diamond drilling to further extend the ~1.2km-long Carlow Castle resource at depth and down dip to the South and East.

    • ~3,000m aircore drilling to commence over Carlow Castle near resource areas, including SAM targets 5-21 as soon as heritage survey is completed.
    • ~3,000m aircore drilling campaign to test shallow gold anomalies at the new Carlow West area to commence soon following heritage survey.

    Artemis Resources Executive Director, Alastair Clayton, commented:

    “The first drill programme at the Carlow Castle resource area under Project One Million has yielded excellent results. As planned, these results increase the mineralised envelope at depth and down dip. This data will be added to a resource update planned for later in the year, following the next phase of RC and diamond drilling. Outside of the Carlow Castle resource area, scout drilling of SAM targets 1-4 delivered some success at Target 4. We will soon start drilling over a range of near resource areas to the SE of Carlow Castle and commence the systematic  evaluation of SAM targets 5-21 over a 5km strike length. In the coming weeks we will initiate exploration of the highly prospective Carlow West area using low-cost aircore drilling.

    The combination of aircore, RC and diamond drilling campaigns to kick off in the coming weeks will mark an extensive rolling phase of resource and greenfield exploration across the virtually untested greater Carlow Castle project area.

    Concurrently, Artemis is also finalising exploration plans for our 100%-owned Paterson Central Gold-Copper Project adjacent to and surrounding the exciting Havieron discovery. All of this will deliver us an incredibly busy schedule of activity and newsflow over the next few months.”

    Artemis Resources Limited (“Artemis” or “the Company”) is pleased to provide an update and results from a reverse circulation (RC) programme (Figure 1) from the Carlow Castle Au-Cu-Co Project, about 45km east of Karratha in Western Australia’s Pilbara region.

    The three aims of this programme were to:

    1. Continue to define limits of mineralisation at depth and down dip and add ounces to further resource updates;

    2. Capture DHEM signatures of mineralisation for use in future resource and extensional and regional drill planning; and

    3. Commence systematic exploration of 21 undrilled SAM targets to the west and south of the Carlow Castle resource area.

    Read full Announcement

    SOURCE: ARTEMIS RESOURCES
    DATE: MAY 12, 2020

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