The latest resource estimate for Artemis Resources Ltd.'s Weerianna gold project in Western Australia's West Pilbara region defined over 62,700 ounces of gold in the inferred category.

The total resource comprises 975,699 tonnes grading 2.0 g/t gold for 62,739 ounces above a 1.0 g/t gold cutoff.

The October estimate incorporated data from a reverse circulation drilling program of 19 holes totaling 1,644 meters, according to a Dec. 19 statement.

"Weerianna has only been drilled to an average depth of 69 meters and as a shallow, quartz vein style gold resource may have the potential to increase in scale with deeper drilling," CEO Wayne Bramwell said.

The company intends to rank, review and prioritize further exploration at Weerianna in 2019.

Artemis recently secured A$5.4 million in funding from London-based institutional group Riverfort Global Capital Ltd. to explore its Armada gold-cobalt-copper prospect in Western Australia's Paterson Range.