Artemis lets loose on undrilled Pilbara gold prey

Artemis Resources has begun a combined drill campaign over untested targets in search of resource growth.

Artemis considered the targets as too good to go undrilled any longer. Pic: Getty Images

• Artemis begins combined RC and diamond drilling over Pilbara gold targets

• Campaign also directed at expanding the 374,000oz Au Carlow resource

 

Special Report: Artemis Resources has begun a combined arms drill campaign over the string of untested gold targets at its Karratha project in the northern Pilbara.

The Artemis Resources (ASX:ARV) RC and diamond drill program is directed at testing untouched targets while extending a central and open Carlow deposit currently containing 374,000oz of gold and 64,000t of copper.

The targets lie within a 4km-long zone centred around the Carlow resource. That builds on a theory there could be multiple different gold bearing deposits surrounding Carlow, within highly prospective structures which have so far avoided drilling.

Artemis believes each target holds potential for discovery and managing director Julian Hanna said the company was thrilled to announce the beginning of the campaign.

“Diamond drilling will initially focus on the large Marillion EM conductor, located 500m east of the Carlow resource then test for possible extensions to the Carlow resource, targeting areas down plunge from previous high-grade gold and copper intersections,” Hanna said.

“Additionally, we will use RC drilling to explore the Titan prospect, 2km northwest of Carlow, where high-grade gold occurrences from selected sampling of quartz veins and chert outcrops offer exciting potential.

“We are excited about the opportunity this drilling presents to expand the Carlow resource and uncover further opportunities across our portfolio and look forward to updating the market on progress."

Drilling will also test new zones showing strong structural and geophysical indicators at the Europa and Thorpe targets, to the west and south of Carlow.

Map of nearby projects and surrounding infrastructure. Pic: ARV

Pilbara perforation

De Grey’s discovery of Hemi already placed a spotlight on the northern Pilbara gold province, and Northern Star Resources' (ASX:NST) $5bn acquisition of DEG cemented its priority status.

Previously a consultant and technical advisor to Artemis, proven discovery-maker Hanna stepped up to the MD helm early this year with belief there is more gold to be found in this northern Pilbara region.

Hanna told Stockhead contributor Kristie Batten that he saw a register of long and loyal shareholders, a strong technical team, and a structurally fascinating project area holding targets that were too good to go undrilled any longer.

Artemis is also looking around for new projects to add to the portfolio and has applied for a 340km² exploration licence over a large, interpreted intrusion it believes should be tested for an association with IOCG mineralisation.

This article was developed in collaboration with Artemis Resources, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

Originally published as Artemis lets loose on undrilled Pilbara gold prey