Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) has the green light to proceed with drilling at the Lulu Creek prospect in the Pilbara region of Western Australia.
Drills to mobilise within days
The company is targeting an Intrusive Related Gold System (IRGS) and aims to mobilise drilling teams in the coming days.
Clearance follows the completion of heritage and ethnographic surveys, which were carried out in collaboration with the Ngarluma Aboriginal Corporation.
The upcoming drill program will focus on testing targets identified through previous exploration and geophysical surveys.
Shallow reverse circulation (RC) drilling conducted in 2020 revealed several anomalous gold zones (greater than 0.4 g/t of gold) over a 1.5-kilometre stretch.
Highlights included a significant intercept of 1 metre at 4.89 g/t gold and 13.7 g/t silver from 24 metres.
These gold zones are linked to quartz veins and sulphide dissemination within a quartz diorite intrusion.
Further exploration in 2023, including a dipole-dipole Induced Polarisation (IP) survey, uncovered two chargeability anomalies within the Lulu Creek intrusion.
These anomalies align with the previously identified gold zones, providing Artemis with promising drill targets.
WA Government support
The drilling at Lulu Creek has been co-funded through the Western Australian Government's Exploration Incentive Scheme (EIS), administered by the Department of Energy, Mines, Industry Regulation and Safety (DEMIRS).
Lulu Creek, 20 kilometres west of the company’s Carlow Castle deposit, was initially identified in 2018 through a regional soils and rock chip program.
Artemis has since conducted extensive geological mapping and sampling, and the upcoming drilling will aim to expand on the successful results achieved so far.
Executive director George Ventouras said: “We are excited that we are close to drilling the targets at the Lulu Creek prospect.
“The pathway to obtaining clearance was a long but successful one and we are pleased to have the support of the Ngarluma Aboriginal Corporation to undertake this activity.
“We are looking forward to getting the drill rig spinning and will keep the market updated as to our progress.”
About Artemis Resources
Artemis is a diversified resources company focused on gold, copper, and lithium exploration in Western Australia.
The company’s key assets include the Karratha Gold Project, which hosts the Carlow Castle gold-copper-cobalt project with an estimated 704,000 ounces of gold equivalent.
Artemis is also advancing the Karratha Lithium Project, which features the high-grade Mt Marie Lithium Prospect and the Osborne Lithium Joint Venture (JV) in partnership with GreenTech Metals (ASX: GRE).
In addition to its Karratha-based assets, Artemis is progressing its Paterson Central Gold-Copper Project in the Paterson Province, adjacent to the Havieron discovery by Greatland Gold and Newmont.
Artemis also owns the Radio Hill processing plant, strategically located 35 kilometres from Karratha, which provides a processing hub for its West Pilbara operations.
The company is focused on expanding its gold resources and advancing its lithium prospects through ongoing exploration and drilling activities.