Artemis Resources Limited (ASX:ARV, AIM:ARV, Frankfurt: ATY, US OTCQB: ARTTF) has announced a significant upgrade to the Mineral Resource at its 100%-owned Greater Carlow Project, located in the Pilbara region of Western Australia.
Artemis announced a Total Inferred Mineral Resource of 8.74 Mt at 2.5 g/t Au Eq for Greater Carlow, comprising and open pit resource of 7.25 Mt at 2.4 g/t Au Eq. for 557 Koz Au Eq, (using a 0.7 g/t Au Eq. cut-off grade) and an underground resource of 1.49 Mt at 3.1 g/t Au Eq. for 146 Koz Au Eq. (using a 2 g/t Au Eq. cut-off grade).
The high-grade resource remains open in multiple directions and Artemis plans further exploration to expand the resource.
Artemis Resources executive director Alastair Clayton commented:
“What we have now established at the Greater Carlow Project is a robust, credible, high-grade multi-metal resource from which our exploration team can now seek to continue grow via drilling. The next phase at Greater Carlow is to drill and add more high-grade tonnes to the open pit and underground resources, including the high-grade Keel Zone which is not included in this resource statement.
“Importantly, this resource has taken into consideration recent industry cost escalation and still returned robust results.”
Artemis continues to drill at its Paterson Central gold-copper project, also in the Pilbara, which surrounds the massive Havieron gold-copper discovery being developed by Newcrest Mining and Greatland Gold.