Artemis Resources identifies high grade cobalt mineralisation at Carlow Castle

Artemis Resources ARV high grade cobalt mineralisation Carlow Castle

Artemis Resources Limited (ASX: ARV) has reported continued high grade cobalt, copper and gold assay intersections from the recently completed RC drilling programme at the company’s 100% owned Carlow Castle Cobalt/Copper/Gold Project near Karratha in Western Australia (Figure 3).

The Carlow Castle Project is located only 10km south east of Roebourne in the Pilbara Region, and the tenor of mineralisation and large 32 km2 tenement makes the Carlow Castle Project a potentially valuable asset for Artemis. Artemis also owns the surrounding tenements.

The drilling has been temporarily suspended at 34 holes for 2,426m with approximately 2670 samples including QA/QC being submitted to the laboratory. Results have been received for 8 of the holes (~560 samples) with the results of an additional 2,100 samples awaited. The results of the outstanding samples will help prioritise the zones for the resumption of drilling.

Refer to Figure 1 for location of drill holes referred to in this news release.

Figure 1: Location of Carlow Castle Drill Holes.

Artemis Resources ARV Figure 1 Carlow Castle Cobalt

Drilling Results:

The ALS Global (Perth Laboratory) assay results have confirmed the high grade nature of the northern area (Quod Est) at Carlow Castle. Holes completed to the west of the Carlow South resource area indicates the mineralisation extends at least another 150m to the west and the pXRF data indicates the mineralisation is still open to the west.

Holes ARC005 and ARC033a were drilled downdip to confirm the orebody configuration and obtain material for metallurgical testing. Hole ARC005 was not completed to planned depth due to drilling problems.

The exceptional grade of 1 metre @ 6.54% Cobalt occurs at 54-55m in drill hole ARC006 immediately following 1 metre @ 3.1% Cobalt and 5.42% Copper from 53-54m in drill hole ARC006, within the high grade intersection shown in Figure 2.

Figure 2: Interpreted Section 768900mN

Artemis Resources ARV Figure 2 Carlow Castle Cobalt

Figure 3: Artemis Resources Projects (including Fox Resources assets under option).

Artemis Resources ARV Figure 3 Carlow Castle Cobalt

David Lenigas, Artemis’s Chairman, commented;

“Cobalt is a must have metal for the growing EV and energy storage sectors. 6.54% Cobalt is an exceptional cobalt grade and we are now seeing very good cobalt, copper and gold grades over good widths, strike length and depth.

Not only are these Cobalt results significant from a global perspective, but they clearly demonstrate the cobalt potential of this project. To date, we have only received back assay results from a small fraction of the holes drilled and we look forward to reporting further intercepts shortly.”

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