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Artemis Resources Ltd.
Summary
| Project: | Carlow Castle | |
|---|---|---|
| Deposit: | Carlow Castle | |
| Location: | Australia | |
| Commodities: | Cobalt-Gold-Copper-Silver-Nickel | |
| Date: | 3/6/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 6-3-2018: Artemis Resources Ltd. announces an Exploration/Drilling Update report for its Carlow Castle deposit at the Carlow Castle project. Drilling results incl. 15m @ 2.05% Ni, 1.94% Cu, 0.09% Co from 27m. David Lenigas, Artemis’s Executive Chairman, c | |
| Resources: | (Resource, I+I): 4.5Mt @ 0.9g/t Au, 0.07% Co, 0.4% Cu, 1.3g/t Ag at Carlow Castle | |
| CP/QP: | [Overall Report]: Edward Mead (Internal) | |
| ABSTRACT: | David Lenigas, Artemis’s Executive Chairman, commented; “These are excellent shallow Ni/Cu/Co sulphide drilling grades from the unmined top of the Radio Hill ore body. Although our Radio Hill plant re-start strategy is initially aimed at gold production, open pit production from Radio Hill will be an important part of our short-term scheduling. We are aiming to have the Radio Hill open pit resourced, designed and ready for mining well in advance of mill re-commissioning around the middle of this year. The Radio Hill metallurgy is well understood, and the concentrates are a known product for the overseas smelters and Artemis believes that re-opening the Radio Hill mine is a sound low-risk start-up strategy, especially considering plant processing costs are currently estimated to be $32 - $42/t for sulphide base metals ores ($20/t - $22/t for gold ores) and today’s commodity prices of AUD 17,3441 per tonne for nickel, AUD 8,8761 per tonne for copper and AUD 101,9101 per tonne for cobalt. Artemis is working with AMC Consultants to have the Resources of all of its major assets classified and reported in accordance with the JORC Code (2012), and to prioritise Scoping Studies which include mine scheduling on its Radio Hill Ni/Cu/Co, Whundo Cu/Zn, and Weeriana Au Projects, and Scoping Studies on Carlow Castle Co/Cu/Au.” Artemis Resources Limited (‘Artemis’ or ‘the Company’) (ASX: ARV) is pleased to provide an update on its start-up strategy for its Radio Hill operations and on its drilling programmes at Radio Hill (Nickel/Copper/Cobalt), Ruth Well (Nickel/Copper/Cobalt), Silica Hills (Gold), Weeriana (Gold) and Whundo (Copper/Zinc) Projects all located within 35 km from Artemis’ Radio Hill base metals and gold processing plant. | |
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