Artemis Resources to focus on gold producer status via Carlow Castle
The company has provided a corporate and operational update to investors.
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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The company has provided a corporate and operational update to investors.
Armada surrounds Greatland and Newcrest’s project at three sides.
The company is now chaired by Dubai royal, His Highness Sheikh Maktoum Hasher al Maktoum, a Commercial Bank of Dubai board member.
A future Carlow Castle mining operation could be processed at the Radio Hill plant.
Neighbour Rio Tinto unveiled a copper-gold discovery in the region yesterday, further away from Port Hedland.
The company’s chairman is a member of Dubai’s ruling family.
Last month, Artemis completed an airborne magnetic survey over the Armada prospect, identifying eight targets.
Gold and high-grade copper concentrates will be the primary value drivers at Carlow Castle.
The company is advancing its West Australian gold, base and battery metal assets.
The company has 2,400 square kilometres of what it calls “the Pilbara’s best gold, base and battery tenure”.
Artemis has a JV with Novo Resources and projects in mind to utilise its Radio Hill plant near Karratha.
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Despite a sharp price correction in 2018, shrinking supply sources and growing demand for battery chemicals are predicted to sustain cobalt prices into the 2020s.
The survey covered the western 47% of the 605-square kilometre Armada Prospect.
This new JORC resource follows the recent gold resource released for Weerianna.
This project could feed the company's Radio Hill Processing Facility nearby.
Previously completed drilling is being used to update the JORC resource, due early 2019.
The exploration funding means investors can expect continued news flow from the company.
The results from the full program are expected next month in December.
A British company drilled 275 metres at 4.77 g/t gold and 0.61% copper next door.
The company expects to engage with a broader network of US investors, data distributors and media partners.