Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) executive director George Ventouras talked with Proactive about the company’s latest high-grade gold and copper rock chip results from the Thorpe Prospect within the Karratha Gold Project in the Pilbara region of Western Australia.
Ventouras described Thorpe as part of the broader Carlow tenement, highlighting its potential for district-scale gold discoveries.
The recent rock chip samples revealed assays of up to 45 grams per tonne of gold, alongside promising outcropping quartz veins.
He remarked, “We’re revisiting these prospects and we think we’re onto a novel system. The results show scale and high grades, which are exciting signs for this tenement.”
Artemis is expanding the Carlow tenement, which currently holds a resource of 374,000 ounces of gold.
The company’s strategy focuses on identifying multiple systems across the tenement, with Ventouras stating, “If we can identify three, four or five systems like Carlow, we’ll be into the multi-million-ounce territory.”
The company has drill-ready targets at the Totten Prospect, with plans to begin drilling in early 2025. Results from recent drilling at Little Creek are also expected by mid-December, offering shareholders potential pre-Christmas updates.
Highlights
- Thorpe Prospect - Recent rock chip samples returned standout gold assays of up to 45 grams per tonne.
- Carlow tenement strategy - Artemis is targeting district-scale discoveries, aiming to grow its current 374,000-ounce Carlow resource to multi-million-ounce potential by identifying multiple systems.
- Pilbara potential - Inspired by nearby discoveries, Artemis is re-evaluating the Pilbara region’s potential for large-scale gold deposits.
- Next (LON:NXT) steps - Drill-ready targets at the Totten Prospect are being prepared for 2025 drilling, while results from recent Little Creek drilling are expected in mid-December.
- News flow - Artemis anticipates strong news flow through late 2024 and into 2025, with significant upside for shareholders.
Standout results
Tylah Tully (TT): I’m joined by Artemis Resources' executive director George Ventouras, who’s will talk us through the significant gold and copper rock chip results the company has released from its Thorpe Prospect, located within the Karratha Gold Project in the Pilbara region of Western Australia. George, good to see you again. Thanks for joining us.
George Ventouras (GV): Oh, it’s great to be with you as always, Tylah. Thank you.
TT: So talk to us about these rock chip samples. You’ve received some standout results.
GV: Yeah, it’s really exciting for us. The Thorpe Prospect is one that has been known to the company for a little while and there has been some work done there previously — a bit of shallow drilling a number of years ago.
But now that we’re taking a macro view of our projects and looking for district-scale gold ounces, we’re revisiting all these prospects.
At Thorpe, we’ve identified outcropping quartz veins and some pretty interesting results, including assays of 45 grams per tonne of gold. So, we think we’re onto a novel system.
It’s particularly exciting because what we’re seeing at the Carlow tenement is multiple systems, spanning approximately two kilometres. We’ve got scale, good high grades and plenty of work ahead to figure out what’s happening beneath the surface at Thorpe.
Carlow strategy and potential
TT: As you said, Thorpe is part of the broader Carlow tenement. Can you talk us through your strategy across this area and the potential you see at Carlow?
GV: Absolutely. It’s worth noting the Pilbara region hasn’t always been seen as a gold hotspot. But our neighbour, De Grey Mining, is a great example. Their discovery unfolded rapidly—12 million ounces in about five years—and really changed perceptions of the Pilbara’s potential.
At Carlow, we have an existing resource of 374,000 ounces of gold. While we know we can grow that, we’ve taken a step back to look at the tenement on a broader level.
Instead of incremental increases, we’re looking for multiples. If we can take Carlow beyond 500,000 ounces, and identify three, four or five systems like it, we’ll be looking at multi-million-ounce potential.
Thorpe is one of many prospects with significant potential, and there’s still plenty of unexplored ground at Carlow. The upside is tremendous.
Next steps
TT: What are the next steps? Where do you go from here?
GV: We’ve already identified drill-ready targets. Right now, we’re in the process of clearing for heritage at the Totten Prospect. By early 2025, we plan to have multiple prospects lined up for drilling.
In the meantime, we’ve had recent drilling at Little Creek, and we expect the results back by mid-December. So, between now and Christmas, we’re anticipating some exciting news flow that will set the stage for next year.
TT: It definitely sounds like there’s a lot of news flow to keep our eyes peeled for in 2025.
GV: Absolutely. And let’s not forget about the remainder of 2024 — we’re expecting results soon, and hopefully, there’ll be a nice Christmas present for our shareholders.
TT: George, thanks so much for joining us today.
GV: Pleasure to be here. Thanks, Tylah.
For more updates on Artemis Resources' exploration journey, visit Proactive's YouTube channel. Don’t forget to like this video, subscribe to the channel and enable notifications for future updates.