LONDON (ShareCast) - (Sharecast News) - Artemis Resources said in an update on Tuesday that it would begin a major drilling and exploration programme in the September quarter, targeting extensions to its Carlow Gold and Copper Project and advancing prospects at Titan and the newly-acquired Cassowary Intrusion in Western Australia.
The AIM-traded firm said the programme would include 3,800 metres of diamond drilling at the Carlow project, aiming to test for significant resource extensions beyond current limits.

It said the drill campaign would focus on a 600-metre strike gap and deeper zones beneath the existing resource envelope, where previous intercepts included four metres at 11.1 grams of gold per tonne and 2% copper at 120 metres depth.

The programme would also generate material for metallurgical and mining studies, which would be overseen by a newly-appointed project manager.

At Titan, the company said it was planning 1,200 metres of low-cost reverse circulation (RC) drilling to test high-priority gravity anomalies and brecciated zones associated with surface gold occurrences.

One of the target zones previously returned a peak assay of one metre at 16.4 grams of gold per tonne.

An infill gravity survey was also planned to refine drill targeting across four identified anomalies.

Exploration at the Cassowary Intrusion, a large and previously-untested geological feature east of Kalgoorlie, would begin following the expected grant of a new exploration licence in the coming quarter.

Artemis said it was planning to undertake a gravity survey to delineate drill targets, with the area considered prospective for IOCG-style copper-gold systems.

The project had gained strategic significance with nearby tenement applications lodged by WA1 Resources and Teck Resources.

Artemis said the upcoming activities reflected its strategy of advancing high-impact gold and copper exploration in Western Australia, with a focus on unlocking value from its existing resource base and underexplored regional targets.

"The next few months should be an exciting period for Artemis with drill programs aimed at growing the scale of the Carlow Project and technical studies required to move Carlow towards possible feasibility and early development stages," said managing director Julian Hanna.

"The first priority is widely spaced diamond drilling to scope out potential for significant extensions to the high-grade gold and copper lodes along strike and below the mineral resource announced in October 2022, and to provide core samples for metallurgical test work.

"A further strategy to build Carlow is using low-cost RC drilling to test the potential for shallow gold mineralisation at Titan, only two kilometres west of Carlow."

Hanna said the company's other outstanding exploration project was the interpreted Cassowary Intrusion which occurs in a "unique geological setting" on the margin of a 500 kilometre-long north-east trending crustal boundary, with surrounding geology disrupted over tens of kilometres.

"Cassowary is a rare opportunity to drill for possible IOCG type copper/gold mineralisation. Artemis's 330 square kilometre EL application which covers Cassowary is expected to be granted in September quarter and planning is underway for a gravity survey to assist drill targeting.

"We look forward to reporting progress on these three gold and copper opportunities as soon as possible."

At 1304 BST, shares in Artemis Resources were up 9.09% at 0.3p.

Reporting by Josh White for Sharecast.com.

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