ASX Announcement Carlow Castle Q1 2021 Drilling Results - New...

ASX Announcement

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0	Carlow Castle Q1 2021 Drilling Results - New High-Grade Shoots Discovered: ARC282 returns 5m @ 24.32g/t Au, 3.39% Cu and 0.24% Co from 166m, below the Western Main Zone Resource.
1	Highlights

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0	• Last assay results received from the Q1 2021 RC drilling campaign which completed on 10 March 2021. Results from the final 28 holes (ARC281 to ARC309) have identified new high grade shoots at Carlow Castle Main Zone and the recently discovered Cross-Cut Zone, substantially increasing the size and potential of the overall Gold-Copper-Cobalt mineralisation at Carlow Castle.
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2	• ARC282; West end of Main Zone, new high-grade shoot identified with outstanding Au - Cu grades exceeding expectations and further growing the resource at depth

o 5m @ 24.32g/t Au, 3.39% Cu, 0.24% Co from 166m, including; 3m @ 39.38g/t Au, 5.27% Cu, 0.38% Co from 166m
o 7m @ 3.55g/t Au, 1.66% Cu, 0.02% Co from 119m, including; 1m @ 18.25g/t Au, 7.15% Cu, 0.03% Co from 125m
o 23m @ 0.56g/t Au, 1.46% Cu, 0.10% Co from 103m, including; 3m @ 1.83g/t Au, 2.48% Cu, 0.38% Co from 103m; and
16m @ 0.45g/t Au, 1.60% Cu, 0.06% Co from 110m
• ARC292; Cross-Cut Zone, extensive Cu halo zone
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• ARC291; Cross-Cut Zone, outstanding Au - Cu grades, further defining this zone
• ARC289; Cross-Cut Zone, significant Cu grades and width
o 56m @ 0.28g/t Au, 0.64% Cu, 0.11% Co from 88m, including; 12m @ 0.56g/t Au, 1.65% Cu, 0.24% Co from 88m; and
4m @ 0.57g/t Au, 0.65% Cu, 0.31% Co from 128m; and
3m @ 1.82g/t Au, 3.19% Cu, 0.47% Co from 141m
• ARC301; Quod Est – Cross-Cut, good Au – Cu grades on a new structure
o 3m @ 1.63g/t Au, 2.05% Cu, 0.01% Co from 25m, and;
7m @ 2.60g/t Au, 1.89% Cu, 0.05% Co from 49m, including; 1m @ 11.65g/t Au, 6.12% Cu, 0.09% Co from 53m
• The Carlow Castle 10,853m Q1 2021 RC drill campaign important assay results are summarised with Table 1 for the full 55 hole program. The results for this release has progressed Carlow Castle in several key areas:
- ARC282 extends the Main (West) Zone at depth confirming mineral continuity. The Main (West) Zone has previously only been drilled to a depth
of ~120m
- Infill and step-out holes in the Quod Est Zone continue to expand this high- grade mineralized shoot
- Cross-Cut Zone has substantially increased in strike length, returning significant gold, copper and cobalt results which includes some broader halo alteration zones
• The results of the Q1 2021 drilling program will be incorporated into the new mineral resource estimation that has commenced with CSA Global.
• The Company has scheduled a Q2 2021 campaign to commence immediately, including some 1,500m of diamond drilling and 10,000m of RC drilling.
Artemis Resources Limited (“Artemis” or “the Company” (ASX:ARV, Frankfurt: ATY, USOTCQB: ARTTF) is pleased to provide an update on drill programs completed at its 100%- owned Carlow Castle Gold and Copper Project in the west Pilbara region of Western Australia.
Boyd Timler, Executive Director commented: “The results received from the Q1 2021 drill program have validated our growing understanding of Carlow Castle. Holes targeting specific high-grade shoots returned some outstanding results, and have provided us with a better understanding of the mineralised alteration halo encompassing the high-grade shoots. Wide spaced drilling in the new Cross Cut Zone continues to surprise us with high- grade Au-Cu-Co intersects on multiple structures that are still not fully understood and open at depth and along strike. The Q4 2020 and Q1 2021 drilling campaigns have added 128 new drill holes to the Carlow Castle database, with a new mineral resource estimation underway The Company is increasingly confident on delivering on our target of Project One Million.”
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