Artemis Resources Commences Pilbara Gold Drilling
Why we think this is good
The commencement of a substantial drilling program to test high-priority gold exploration targets near the existing Carlow resource represents a positive development for Artemis Resources. The potential to expand the Carlow resource and identify new mineralization at the Titan Prospect is an exciting opportunity that could have a favorable impact on the company's valuation, provided the drilling results are successful.
Key Points
- Commencement of substantial diamond and RC drilling program to test high priority gold exploration targets near Carlow resource
- Drilling to focus on Marillion EM conductor, potential Carlow resource extensions, and the Titan Prospect
- No previous drilling of the three target areas, despite proximity to the Carlow deposit
Summary
Artemis Resources (ASX/AIM: ARV) has announced the commencement of a substantial diamond and reverse circulation (RC) drilling program to test high priority gold exploration targets on its 100% owned Carlow Tenement in the North Pilbara gold province. The drilling will focus on the large Marillion electro-magnetic (EM) conductor located 500m east of the Carlow resource, potential extensions to the Carlow resource down plunge, and the Titan Prospect 2km northwest of Carlow, where high-grade gold occurrences have been identified. The company believes this drilling program presents an opportunity to expand the existing Carlow resource and uncover further opportunities across its portfolio.