Artemis Resources (ASX/AIM: ARV) has announced promising results from its Phase One drilling program near the Carlow gold/copper resource. Drilling at the Marillion prospect, 600m east of Carlow, intersected 7m @ 2.9g/t Au, including 1m @ 15.3g/t Au, suggesting a potential eastern extension of the Carlow lode system. A 1m @ 16.4g/t Au intersection at Titan, 1.5km west of Carlow, further supports this interpretation. These high-grade gold discoveries have prompted Artemis to prioritize drilling the 600m gap between Carlow and Marillion, scheduled to commence in the June quarter.
Concurrent with the drilling program, Artemis is reviewing over 400 historic drill holes at Carlow, prompted by the current high gold price (~USD3,300/oz), approximately double the price when the Carlow Mineral Resource was announced in October 2022 (~USD1,640/oz). Initial findings from the review have identified 192 high-grade gold assays (>10g/t Au) and 515 high-grade copper assays (>2.0% Cu) in historic drill holes. Notably, the deepest historic hole at Carlow intersected 4m @ 11.1 g/t Au & 2.0% Cu outside the current resource, indicating potential for significant resource extensions at depth.
Managing Director Julian Hanna stated the drilling program has successfully intersected high-grade gold, providing support for potential new discoveries and extensions to the Carlow deposit. Conceptual technical studies, including metallurgical test work, are planned following the completion of the Carlow review. The company intends to update shareholders on follow-up drilling plans and progress on the Carlow gold/copper deposit review in the coming weeks. This announcement underscores Artemis’ commitment to expanding its resource base and exploring the wider potential of the Carlow region, leveraging favorable market conditions and encouraging historical data.
