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Artemis Resources Ltd.
Summary
| Project: | Carlow Castle | |
|---|---|---|
| Deposit: | Carlow Castle | |
| Location: | Australia | |
| Commodities: | Cobalt-Gold-Copper-Nickel-Iron-Zinc | |
| Date: | 6/20/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 20-6-2017: Artemis Resources Ltd. announces an Exploration/Drilling Update report for its Carlow Castle deposit at the Carlow Castle project. Drilling results incl. 22m @ 0.7% Co, 5.9g/t Au, 2.6% Cu from 39m. David Lenigas, Artemis’s Executive Chairman, c | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Edward Mead (Internal) | |
| ABSTRACT: | David Lenigas, Artemis’s Executive Chairman, commented; “Artemis has now completed the first stage of RC and RAB drilling of this very exciting 100% owned project. The RC drilling has identified some very good cobalt, gold and copper grades over very good widths and we are now planning a major new phase of RC and diamond drilling to cover the strike and depth extensions of the known mineralisation and start testing the new targets identified by the shallow RAB programme. The Cobalt price is now US$57,000 per tonne and is a very key component required for the growing EV and energy storage markets. The expected demand for this metal is seen as rising significantly over the coming years. A great deal of the world’s Cobalt currently comes from the Democratic Republic of Congo (DRC), where Cobalt grades approach the 1% mark. To find Cobalt grades of this order in Australia makes this project very significant.” Artemis Resources Limited (“Artemis” or “the Company”) (ASX: ARVDA) is pleased to report the completion of the Phase One drilling program on its 100% owned Carlow Castle Project 10km South east of Roebourne in the Pilbara Region of Western Australia (Figure 6), has defined highly significant cobalt mineralisation that has not previously been reported. The cobalt mineralisation at Carlow Castle has been previously ignored as previous companies exploring in the area focused on the gold and/or copper mineralisation as single commodities. Artemis has taken an integrated approach to mineralisation and an expansion of exploration has been undertaken to better define the overall cobalt copper and gold potential of the Carlow Castle Project. | |
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