West Australian gold explorer Artemis Resources (ASX: ARV) has provided an update from a reverse circulation (RC) drill programme at Carlow West located about 11km southeast of Karratha in Western Australia’s Pilbara region, and other drilling activities.
At Carlow West the RC programme consisted of 126 holes for 3,694m completed across 1.9km of strike length of the gold target area. Holes ranged in depth from 24m to 50m with the aim of testing beyond the base of weathering to sample representative basement geology.
The Carlow West programme was completed using solely RC drilling rather than partial aircore as planned following a matching tender price from the RC drilling contractor.
Geology encountered at this totally undrilled area were largely as modelled and included felsic intrusive rocks demonstrating localised high levels of alteration.
As an adjunct to the drilling at Carlow West, a new high-priority area recently identified by Artemis geologists named SingSix, which is located equidistant between Carlow West and Carlow Castle, was drilled using an RC drill rig. This programme consisted of 14 holes completed for 376 metres. Broad zones of significant shearing and alteration zones were intersected in several holes.
The Company eagerly awaits the results from both the Carlow West and SingSix drill programmes. Samples have been despatched to ALS in Perth for analysis and are expected to be available in circa 3 weeks.
At our non-core Munni Munni Project (unrelated to the Greater Carlow or Paterson Central projects) which is in the process of being divested, the Company advises that it was served a writ of summons issued by the Supreme Court of Western Australia as filed by Platina Resources Limited (Platina), its 30% joint venture partner to the Munni Munni Project. Artemis retains 70% in the project.
Platina claims that the Company and its wholly owned subsidiary, Munni Munni Pty Ltd, have breached the heads of agreement with Platina relating to the Munni Munni Joint Venture as a result of the Company entering into an agreement with Empire Metals Limited as announced to ASX on 28 April 2020. The Company intends to vigorously defend its position and will explore all its options in view of Platina’s claims.