Artemis Resources to kick-start Carlow Castle Gold-Copper-Cobalt diamond drilling in late January

Artemis Resources Ltd (ASX:ARV) is set to kick-start diamond drilling at the Carlow Castle Gold-Copper-Cobalt Project in late January to finish 1,000 metres within the eastern mineral resource area in Western Australia.  Once the diamond drilling is completed, consultants CSA Global, will complete a structural model study for the Carlow Castle deposit.  To date, the Carlow assays continue to impress the technical team and the company looks forward to final assay results from drilling carried out during the December quarter.  Artemis ended the December 2020 quarter with cash balance and liquid investments of around $8.24 million. “High level of optimism” Executive director Alastair Clayton said the December quarter had been an exceptionally busy one for the team, with Carlow Castle reverse circulation (RC) and diamond drilling through the Australian summer yielding a stream of ‘outstanding’ assay results. He said: “On the corporate front, we ended the quarter with a healthy cash balance, and we were pleased to welcome Boyd Timler to the board who brings highly complementary corporate, mine development and operations skills and experience. “Our non-core divestment programme of several small non-gold tenements and exploration data during the quarter realised an impressive A$1.5 million for the company’s treasury. “The Artemis team begins 2021 with high level of optimism. “Both our core gold-copper projects are entering their most ambitious ever drilling programmes and shareholders have substantial leverage to success at both of these high potential projects.” Paterson project drilling planning underway Selected core photographs from Artemis deep diamond holes at the Paterson Nimitz prospect Clayton added that with the company’s highest priority targets being Apollo, Atlas and Enterprise East at the Paterson Central Project, it goes without saying that these will be drilled as soon as possible, with planning underway to get on the ground once all approvals are in place. “To intersect intervals of intensely hydrothermally altered breccias that are in places hematite overprinted and with trace to minor pyrite and chalcopyrite enrichment from our first holes ever, whilst not an obvious massive sulphide Au–Cu discovery yet, is still hugely encouraging. “These are precisely the geology and textures we are targeting and will use recent drilling information and results to vector our future drilling at Paterson. “We are looking forward to receiving the first grab sample assay and petrography results soon to see if any meaningful gold-copper anomalism is present and can then cut full core interval assays accordingly. “By retaining 100% ownership of our Paterson licence we provide our shareholders with uniquely unencumbered exposure to continued exploration success in the Havieron area of the Paterson Province.”