Artemis Resources (ASX: ARV) today provided an update on drill programs currently underway at its 100%-owned Carlow Castle gold and copper project in the west Pilbara region of Western Australia.
Further assays received from the 2020 42-hole, multi-rig drilling campaign at the Carlow Castle Gold Copper Cobalt Project.
New Carlow Deeps “Feeder Zone” drill holes 20CCAD007 and 008W:
7m @ 1.08g/t Au, 0.92% Cu, 1.03% Co from 618m in 20CCAD008W, including 2m @ 3.18g/t Au, 2.04% Cu, 2.62% Co from 619m.
3m @ 0.74g/t Au, 0.14% Cu, 1.25% Co from 575m.
4m @ 2.27g/t Au, 1.27% Cu, 0.38% Co from 504m in 20CCAD007, including 1m @ 8.07g/t Au, 3.56% Cu, 0.80% Co from 505m.
Resource area infill diamond hole 20CCAD010:
8m @ 5.63g/t Au, 3.87% Cu, 0.21% Co from 122m in 20CCAD010, including 3m @ 11.62g/t Au, 7.44% Cu, 0.35% Co from 127m; and
17m @ 2.13g/t Au, 1.16% Cu, 0.36% Co from 141m, including 5m @ 5.05g/t Au, 1.25% Cu, 1.25% Co from 150m.
These latest drill results demonstrate that high grade gold, copper and cobalt is being routinely discovered at Carlow Castle, with exceptional combined metal content at Carlow Deeps.
The Carlow Castle 10,000m 2021 RC drill campaign is approximately 50% complete (23 of 35 planned holes), targeting step-out, new discovery zones, and resource extensions.
Alastair Clayton, Executive Director commented: “Given the strength of the Gold grades being reported from our drill campaign, it is sometimes easy to overlook the exceptional Copper and Cobalt grades at Carlow.
“With Copper trading near 5-year highs at ~US$7,850/t and Cobalt fetching ~US$41,250/t, more than twice that of Nickel, the possible economic contribution of these metals to any future development at Carlow has the potential to be significant.
“As both metals are keenly sought after to support the booming global electric vehicle (EV) market, Carlow may present itself as a Western Australian supplier of Copper and Cobalt to global markets.
“At Carlow Deeps, all three holes targeting mineralisation up to 250m vertically below the existing resource shells to extend known mineralisation from surface to nearly 500mRL were successful.
“Carlow Deeps is a large target area comprising a near vertical E-W striking panel of mineralisation interpreted to be a chilled or feeder zone beneath the 1.2km strike of the Carlow resource area.
“Thus far we have two holes on section 507540E and another 120m to the west. We intend to keep drilling Carlow Deeps vertically to 500mRL and along strike to the east and west with the goal of proving up a substantial resource. “
There are still more assays from our Q4 2020 programme due soon and our 10,000m, as our 2021 RC drill programme nears the halfway point.”