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Highlights:
- The Karratha gold project is central to Artemis Resources' strategy, with plans to extend the 704Koz gold equivalent Carlow mineral resource.
- An extensive drilling program is set to explore high-priority targets and possibly replicate the success of nearby projects like De Grey Mining’s Hemi gold project.
- The company is seeking additional exploration assets, with a focus on low-cost acquisitions to expand its portfolio.
Artemis Resources (ASX:ARV) is orchestrating an expansive drilling agenda at key gold exploration targets within its holdings in the North Pilbara gold province of Western Australia, aiming to make significant headway at the Karratha gold project. The company’s central asset, the Carlow deposit, currently contains an inferred resource boasting 8.74Mt at 1.3g/t Au for 374,000oz gold, accompanied by copper and cobalt resources.
Mirroring the outstanding success of neighboring projects like De Grey Mining's (ASX:DEG) Hemi gold project, Artemis Resources seeks to explore additional gold zones around Carlow, potentially transforming its profile significantly. This year, a diamond and reverse circulation drilling program is set to kick off shortly, aiming to explore several promising targets in a strategic 4km northwest trending zone centered on Carlow.
Exploration in Progress
The upcoming drilling effort, supported by a recent substantial $4 million funding round, will particularly focus on investigating undrilled targets proximate to the Carlow resource. Exciting prospects await with the testing of prominent developments like the Marillion electro-magnetic conductor, potentially extending the gold-copper deposit even further.
Additional efforts include diamond drilling to probe potential resource extensions at Carlow and reverse circulation drilling across emerging prospects like the Titan project, where recent assessments have indicated promising surface gold occurrences.
Pursuit of New Exploration Opportunities
Aside from its primary focus on expanding the Karratha gold project, Artemis Resources is also teaching new grounds by exploring additional low-cost exploration assets. It recently applied for a 340km2 exploration license intended for the Cassowary intrusion, an enticing target beneath the Eucla Basin sediments in WA.
Positioned along the Madura West Crustal Boundary, this rare geological setting, also explored by major players like BHP Nickel West and Teck Australia, could potentially host IOCG-type copper/gold mineralization.
