Artemis Resources well-placed to advance copper-gold projects with liquidity of $5.45 million
A follow-up drill program will be initiated once pending assays from the Carlow Castle Gold-Copper-Cobalt Project have been received and analysed.
Company
ASX:ARV
Artemis Resources Ltd is a gold, copper and lithium focused resources company with three major projects in Western Australia: the Greater Carlow Castle gold-copper-cobalt project in the West Pilbara; the Paterson Central project in the Paterson Province; and the Osborne JV in the West Pilbara.
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A follow-up drill program will be initiated once pending assays from the Carlow Castle Gold-Copper-Cobalt Project have been received and analysed.
A 4,000-metre Carlow Castle RC drill program continues with 27 holes completed to date and assays pending.
The program of reverse circulation drilling and downhole electromagnetics is designed to increase the scale of the project for strike and dip extensions.
The deal will provide a capital injection for the company’s priority projects Carlow Castle and Patersons Central.
New non-executive director Mark Potter has more than 15 years’ experience in natural resources investments.
The Paterson Central project covers 605 square kilometres and is located 40 kilometres east of the Telfer gold-copper mine and is contiguous to the Havieron gold and copper discovery.
Drilling will assist in generating an Exploration Target and increasing the scale and size of the Carlow Castle resource.
Shares in Artemis were up 41% yesterday at the intra-day high of 4.1 cents, shares closed at 3.8 cents, up 31% on the day.
Funds will go towards sampling and drilling programs at the companies Patersons and Carlow Castle projects respectively in Western Australia.
The company is focused on exploration at its Armada Copper-Gold Project which sits alongside high-profile neighbours Telfer and Havieron.
The company is focused on its gold and copper assets in the West Pilbara and Patersons Range of Western Australia.
The trading halt will be in place until Wednesday, January 29, 2020, or when an announcement is released to the market.
The company has lodged a Program of Work (PoW) application for approval to drill the seven priority targets, subject to conducting heritage surveys.
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Metallurgical test work will commence shortly to characterise the resource and define metallurgy zones.
The halt will remain in place until Thursday, November 21, or when an announcement is released.
His Highness Sheikh Maktoum Hasher M Juma Al Maktoum purchased the shares on-market.
The company will now be in a stronger position to progress its key projects in the Telfer and Karratha areas.
The company has ground near Greatland Gold’s Havieron project and is likely to return to trade on Monday.
Exploration activities are ongoing across Havieron and the Armada Project.