Artemis On Target With High Grade Au-Cu Results At Carlow Castle

Artemis On Target With High Grade Au-Cu Results At Carlow Castle

New 11,000m RC Programme Underway

Artemis Resources Limited (ASX:ARV) has obtained high-grade assay results from a recently completed drill programme at its 100%-owned Carlow Castle Gold and Copper Project in the west Pilbara region of Western Australia.

The first sx holes of the nine-hole RC exploration drilling completed in May 2021 focusing on the Western End of the Carlow Project Area returned excellent gold and copper mineralisation. Importantly all RC results presented occur external to the preliminary 2021 resource update shells.

Drilling highlights include:

New Western high-grade upper shoot discovered with 6m @ 14.97g/t Au, 7.09% Cu, 0.06% Co from 53m (ARC310)

This new Western upper shoot sits structurally above the previously announced lower shoot that hit 5m @ 24.32g/t Au, 3.39% Cu, 0.24% Co from 166m (ARC282)

Other important drilling results were also returned from this exploration of the Western end of the Carlow Castle Project Area.

o 6m @ 1.35g/t Au, 0.34% Cu, 0.07% Co from 136m (ARC311)

o 6m @ 2.61g/t Au, 0.54% Cu, 0.14% Co from 186m (ARC311)

o 6m @ 2.68g/t Au, 1.1% Cu, 0.02% Co from 28m (ARC312)

o 5m @ 1.66g/t Au, 0.26% Cu, 0.04% Co from 56m (ARC312) o 2m @ 1.15g/t Au, 0.19% Cu, 0.03% Co from 83m (ARC312) o 1m @ 9.29g/t Au, 0.67% Cu, 0.17% Co from 114m (ARC312)

o 2m @ 2.07g/t Au, 0.44% Cu, 0.31% Co from 110m (ARC313) o 4m @ 2.09g/t Au, 0.5% Cu, 0.06% Co from 121m (ARC313).

Meanwhile, the company has now commenced a circa 11,000m RC drilling exploration programme with a primary focus on further expanding several Western high-grade shoots, growing the Crosscut deposit and testing the Good Luck and Little Fortune mineralised systems several kilometres to the south of the main Carlow Project Area.

Executive Director, Alastair Clayton, said exploration drilling at the Carlow Project has once again returned some fantastic results and highlights the remarkable overall prospectivity of this large mineralised system to host substantial shoots of very high-grade gold and copper.

“Resource work has highlighted the need to better understand the nature and controls on the mineralisation in order to target drilling, such that it grows the project not only in terms of tonnes but in doing so maintains or increases the grade of the Au-Cu resource.

“The exploration results from the May programme and the new RC drill exploration campaign now underway are aiming to achieve just that and with multiple areas yet to be drill tested, I am confident substantially more high-grade zones will be identified.

“With our Paterson Central access and heritage plans rapidly advancing and Carlow back on track, our shareholders should expect very substantial progress for the remainder of 2021.”

The additional 11,000m drill programme has been planned based on new interpretations for Carlow Castle Main Zone, Quod Est and Crosscut Area. This program is designed to test the plunging shoots at depth, below what previously appears to be a low-grade patch between the western main zone and the high grade eastern zone. If these shoots are found to be persistent, then the resource potential for Carlow Castle will be significantly increased.

Drilling in the Crosscut Zone will test targets based on recent exploration structural interpretation and geophysical information. This is shown in Figure 5.

Previous drilling at Crosscut had intersected significant mineralisation which shows that this area has excellent potential to develop into another mineralised zone. Previous intersections suggest a strike length more than 200m given the NW-SE orientation of the structural trend.

The next phase of drilling will increase this length, as long as the structural trends exist and are mineralised.

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