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Artemis Resources Ltd.
Summary
| Project: | Carlow Castle | |
|---|---|---|
| Deposit: | Carlow Castle | |
| Location: | Australia | |
| Commodities: | Cobalt-Copper-Nickel-Gold-Silver | |
| Date: | 2/13/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-2-2017: Artemis Resources Ltd. announces an Exploration/Drilling Update report for its Carlow Castle deposit at the Carlow Castle project. Reassessed old assay data incl. 4m @ 33.6g/t Au, 1.12% Co from 36m. Artemis Resources Limited (“Artemis” or “the | |
| Resources: | (Resource, Inf.): 418000t @ 3.0g/t Au, 0.6% Cu for 40000oz Au, 2500t Cu contained | |
| CP/QP: | [Overall Report]: Edward Mead (Internal) | |
| ABSTRACT: | Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARVDA) is pleased to report a review of it’s 100% owned Carlow Castle Project 10km South east of Roebourne in the Pilbara Region of Western Australia (Figure 2), has identified significant cobalt mineralisation that has not previously been reported. 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. 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 more recent times drilling has identified a JORC (2012) Inferred Mineral Resource (figure 1) of 418,000 tonnes at 3.0 g/t Au and 0.6% Cu, for total contained metal of 40,000 ounces of Au and 2,500 tonnes of Cu1 . The current gold copper resource also contains cobalt mineralisation, which has not been included in the resource estimation. David Lenigas, Artemis’s Chairman, commented; “The Carlow Castle area holds significant potential for primary Cobalt mineralisation associated with high grades of Copper and Gold. Previous mining and exploration efforts in the area were primarily focused on gold and copper with only cursory historic efforts made to understand the area’s significant Cobalt potential. Recent work by Artemis has identified cobalt mineralisation in strong association with copper and gold with Cobalt grades from shallow drilling recording above 1% cobalt, and assays recording up to 5.88% from the Quod Est mine ore. We believe that Cobalt, Copper and Gold now need to be considered on an integrated basis at Carlow Castle and Artemis is now undertaking a complete re-evaluation of this very exciting 100% owned project.” | |
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