Artemis Resources drills more high-grade cobalt at Carlow Castle

Artemis Resources Ltd (ASX:ARV) has drilled more high-grade cobalt, copper and gold mineralisation at its 100% owned Carlow Castle Project in Western Australia.

Mineralisation has now been extensively drilled over a continuous strike of 1.2 kilometres from a target of over 12 kilometres in strike length.

All drill results have now been received from the extensive 24,655-metre drilling program and a new JORC 2012 compliant resource is now being estimated.

READ: Artemis Resources deep drilling assays from Carlow Castle build resource potential

Artemis’ executive director Ed Mead said: “Carlow Castle was one of the first ever cobalt discoveries in Australia in the 1920’s and since intersecting cobalt grades up to 6.5% in the early stages of this drilling program, this project continues to deliver outstanding results.

“The company has drilled ~10% of the 12-kilometre target zone and sees multiple opportunities to grow this project.

New JORC expected this quarter

“Metallurgical test work is well advanced and a significant new JORC resource is expected this quarter.

“Artemis is now making plans for an aggressive new drilling program with multiple rigs to expand this resource well beyond what has been defined to date.

“Carlow Castle is a very exciting project and one that can add significant long-term value to Artemis.”

Only 1.2 kilometres of 12-kilometre strike tested

The Carlow Castle deposit is now classified as a brecciated basalt within a major shear zone.

Best drill intersections received to date include:

▪ 16 metres at 0.94% cobalt, 7.62 g/t gold and 3.51% copper from 36 metres;
▪ 6.5 metres at2.32% cobalt, 23.44 g/t gold and 10.35% copper from 47 metres;
▪ 11 metres at 14.07 g/t gold, 0.79% cobalt, and 3.41% copper from 32 metres;
▪ 16 metres at 7.62 g/t gold, 0.94% cobalt and 3.51% copper from 36 metres; and
▪ 11 metres at 3.41% copper, 14.07 g/t gold and 0.79% cobalt from 32 metres.

Story by ProactiveInvestors