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Artemis boosts resource inventory at Carlow Castle cobalt-gold-copper project

Artemis Resources Ltd. on Jan. 31 announced a mineral resource estimate for the Carlow Castle South deposit at its Carlow Castle project in Western Australia.

Using a 0.05% cobalt cutoff, the JORC-compliant indicated and inferred resources have increased to 2.3 million tonnes grading 1.3 g/t of gold, 0.11% cobalt, 0.5% copper and 1.6 g/t of silver.

The updated global resource estimate included Carlow Castle South and Carlow Castle South East Lode, which combined added 3.9 million tonnes of inferred resources at 0.9 g/t of gold, 0.06% cobalt, 0.4% copper and 1.4 g/t of silver.

The overall resource included the maiden resource of 557,000 tonnes grading 1 g/t of gold, 0.2% cobalt and 0.5% copper from the Quod Est deposit.

Mineralization in multiple deposits remains open, with further drilling planned during the quarter.

"Apart from plans to continue drilling to expand the resource base further, we have now engaged consultants to run a fast-track scoping study to assess the potential economics of processing this material through our nearby and soon to be re-commissioned Radio Hill treatment plant," Artemis Chairman David Lenigas said.

In December 2017, the company secured A$6 million to help fund upgrades and to refurbish the plant at Radio Hill.