Highlights:
• The first of the Cobalt/Copper/Gold deposits (Quod Est) at Carlow Castle - JORC 2012 Resource.
• The second and larger of the deposits drilled to date (Carlow Castle South) JORC resource will be available by the end of January 2018.
• Many new Cobalt/Copper/Gold targets now identified over 50km2.
• Quod Est (the smallest deposit) has a JORC 2012 Indicated and Inferred compliant resource of 557,000 tonnes @1.0g/t Au, 0.2% Co & 0.5% Cu.
• Quod Est deposit remains open at depth.
• Best intercepts included:
? ARC002: 63-67m: 4m @ 1.13% Co, 10.71 g/t Au, 4.44% Cu
? ARC005:48-54m: 6m @ 1.94% Co, 4.14 g/t Au, 1.67% Cu
? ARC006: 52-58m: 6m @ 1.94% Co, 3.4 g/t Au, 1.36% Cu
? ARC007: 10-14m: 4m @ 1.79% Co, 5.89 g/t Au, 1.89% Cu.
• Conversion of the approved Exploration Licences to Mining Leases is underway.
• Diamond drilling for detailed pit geotechnical and metallurgical analysis will commence at the end of January 2018.
• Radio Hill plant upgrades going to plan.
• Carlow Castle is only 30km north-east of Artemis’s Radio Hill Plant site and is conveniently connected by gazetted roads.
David Lenigas, Artemis’ Executive Chairman, commented;
“We believe that Carlow Castle has the potential to be a significant new Cobalt province in Australia and we are pleased to report the first of what will eventually be many JORC compliant resources on our 100% owned Carlow Castle (Cobalt/Gold/Copper) Project near Karratha. With the world Cobalt prices now at US$75,000 a tonnes (nearly AUD $100,000 a tonne) the overall insitu rock value of Cobalt (at 0.05% Co cut-off) at our Quod Est deposit, with a grade of 0.3% Co, exceeds the combined values of Gold at 1.5 g/t Au and Copper at 0.6% Cu. We expect to complete the next JORC resource on the much larger Carlow Castle South deposit by the end of the month and are working hard on all fronts to have Carlow Castle ready and available to provide plant feed for our Radio Hill Plant from July. The latest geochemistry programme, covering 50 km2, has also surprisingly identified a large number of new high priority Cobalt/Gold/Copper targets ready for drilling. We are already receiving interest from international Cobalt trading houses for Artemis’s conflict-free Cobalt.”

Artemis Resources Limited (“Artemis”) (ASX: ARV) is pleased to provide the first of a number of JORC (2012) compliant resources with the Quod Est deposit at the Carlow Castle (Cobalt/Gold/Copper) Project, located about 20km south-east of Karratha in the Western Pilbara Region of Western Australia.
Carlow Castle is located only 30km north-east of Artemis’s Radio Hill processing plant, via gazetted roads. Work has also commenced on converting the portion of Exploration Licence E47/1797 covering the deposits to Mining Leases.
A diamond drilling programme is now being planned for geotechnical analysis for detailed open pit planning purposes and for advanced metallurgical recovery optimisation and plant operating cost planning.
The mineralisation at Quod Est and Carlow Castle South is hosted in chloritic shear zones within the predominantly Archean mafic sequence. The ore zones appear partially oxidised above 20m with sulphides extending to depth, the presence of chalcocite in some samples indicates supergene enrichment in the upper portions of the sulphide zone.
JORC (2012) compliant resources on the much larger Carlow Castle South deposit are currently being estimated and will be available later this month.
The refurbishment and upgrade works at the Radio Hill Plant are progressing well. The Company is working to have the planned works, including the addition of a 70-100 tonne per hour gravity gold recovery circuit, completed and fully operational by the end of June 2018. The Company is also undertaking studies to increase the overall capacity of the plant to over 1 million tonnes per annum.

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