Artemis Resources sampling identifies three large new gold targets in West Pilbara
Geochemical sampling and analysis techniques prove successful in the company’s extensive tenement package.
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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Geochemical sampling and analysis techniques prove successful in the company’s extensive tenement package.
The company drilled 37,000 metres in FY2018 and delivered two resource updates.
Geochemistry and mapping has been used to identify 10 priority cobalt targets.
Artemis's 100% owned Radio Hill processing facility is the only one in the region.
A significant new JORC resource is expected this quarter.
The project's proximity to the processing facility provides options for the company.
Results will be fed into a JORC resource update in the December quarter 2018.
The company has a number of projects surrounding the Radio Hill plant.
There have been 193 ounces recovered from 47K Patch and another 32 ounces from Purdy’s Reward prior to the Novo Resources’ JV.
More assays are pending and they will feed into a JORC resource update.
The company’s mineral assets in the Pilbara will be of interest to European investors seeking greater exposure to battery metal opportunities.
Notably, Carlow Castle is near to the company's 100% owned Radio Hill processing facility.
The company is developing a portfolio of projects surrounding the Radio Hill facility.
Exploration data is now being reviewed to determine a gold focussed work program.
The company also recently completed the second hole in its Pilbara deep drilling program.
Joint venture partner Novo Resources has had great success in the Pilbara.
The company’s shares are trading about 6% higher intra-day, at 8.8 cents.
The company owns the only processing plant in the Karratha region and is exploring for gold, cobalt, copper and platinum.
The company had a cash balance of $27.04 million at the end of June 2018.
Carlow Castle looks to be a part of a larger mineralised system that is open at depth and along strike.