Artemis Resources (ASX:ARV) has identified significant cobalt mineralisation from a review of its Carlow Castle Project in the Pilbara Region of Western Australia.
The cobalt mineralisation at Carlow Castle has been previously ignored as companies focused on the gold and/or copper mineralisation as single commodities.
The review by Artemis shows that an integrated approach to mineralisation and an expansion of exploration is required to better define the Carlow Castle Project.
The work to date highlights a potentially material asset that has remained under explored.
The project has previously been the focus of gold and copper mining with production between 1880 and 1910.
In recent times, drilling has identified a JORC 2012 resource of 418,000 tonnes at 3.0 g/t gold and 0.6% copper, for total contained metal of 40,000 ounces of gold and 2,500 tonnes of copper.
The current gold-copper resource also contains cobalt mineralisation, which has not been included in the resource estimation.
Significantly, recent drilling at the project area has intercepted 4 metres at 33.6 g/t gold and 1.12% cobalt from 36 metres downhole.
In December 2016, Artemis signed an agreement with Fox Resources (ASX:FXR) to buy the fully permitted 425,000 tonnes per annum Radio Hill nickel and copper tenements and processing plant.
The Radio Hill plant is located 35 kilometres south of Karratha in the Pilbara Region of Western Australia.
Furthermore, Artemis is aiming to commence trial gold production at its Nickol River project in Q2 2017.
The project is located 12 km from Karratha in Western Australia and includes a 150 tonne per hour gravity plant with a capacity of 3,000 tonnes per day.