Artemis Resources (ASX: ARV) has provided an update on the continuing drill programmes on its 100%-owned Carlow Castle in the west Pilbara region of Western Australia.
HIGHLIGHTS
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First assays from deep diamond drill holes at Carlow Castle have identified high-grade gold and copper well below the existing 2019 JORC Resource envelope.
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Drill hole 20CCAD003 discovers high-grade potential feeder zone 525m below surface, 250m vertically below the current resource.
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4m @ 11.1g/t Au, 2.0% Cu, 0.18% Co from 639m.
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These assays from the bottom half of 20CCAD003 are the first received from a near complete 48 hole, multi-rig Diamond and RC drill programme. More than 90% of assays submitted to date are still pending with many due soon.
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Drill hole 20CCAD003 also discovered an upper high-grade gold zone, possibly representing a totally new northern parallel lode, the size of which will be determined when remaining upper hole assays are received.
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An additional 551m infill hole (20CCAD007) to confirm vertical up dip continuity of both new discovery zones completed with assays pending.
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Diamond drill programme is ongoing, 6 infill and extensional diamond drill holes for 2,131m have been completed and samples put in for assay. 6 holes remain to be completed for 1,020m.
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32 hole step out RC programme for 4,156m at Carlow Castle completed with the primary objective to identify new shallow zones of mineralisation. First assays expected by early-December.
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Detailed AMAG survey flown and final data sets processing underway. IP crew due on site soon to complete 10 line dipole-dipole programme over the existing resource and new discovery areas in advance of 10,000m follow-up RC drilling programme to commence in early December.
Alastair Clayton, Executive Director commented: “The targeting and successful discovery of high-grade gold and copper over 250m below the bottom of the 2019 MRE from our very first deep hole just highlights the potential size of the gold and copper mineralised system at Carlow Castle. We feel exploration to date has only scratched the surface of what might be present. As such and despite only having around half the assays back from the first hole, we have, based on visual core inspections, followed up with 20CCAD007 to test for vertical continuity and 20CCAD008, 120m to the West, to test for strike continuity of this possible high-grade feeder zone. These are only the first few assays back from our multi-rig Carlow Castle exploration programme and we now expect regular assays and updates from today through to January 2021. Elsewhere in our portfolio we expect to provide a detailed update from our Paterson Central Project in early December.”
