Artemis identifies high grade cobalt mineralisation at Carlow Castle
Artemis Resources (ASX: ARV) has released promising assay results from its Carlow Castle cobalt-copper-gold project located in the Pilbara region of Western Australia.
These included 3 metres grading 3.45% cobalt, 6.24 grams per tonne gold and 2.43% copper from 52 metres, including 1 metre at 6.54% cobalt. Another promising intersection was 6 metres grading 1.94% cobalt and 3.4 grams per tonne gold.
Wider intersections also delivered promising gold-copper results, along with cobalt. A 12 metre intersection featured 9.8 grams per tonne gold, 4.57% copper, as well as 1.2% cobalt.
Importantly, the Carlow Castle resource remains open in all directions with multiple zones of massive sulphide cobalt mineralisation having been intersected.
Also of significance is the fact that ARV has a relatively large, highly prospective tenement of 32km2 to explore. With regards to the current exploration program, only 25% of the holes drilled to date have received assay results from the laboratory.
Consequently, there is the potential for further positive news flow which could provide share price momentum.
Keep in mind, however, that ARV is at an early stage so investors should seek professional financial advice before considering this stock for their portfolio. Share trading patterns should not be used as the basis for an investment as they may or may not be replicated.
The location of the Carlow Castle project, relative to the major centre of Karratha and the Radio Hill plant which is the subject of a binding conditional agreement between ARV and Fox Resources, is shown below.
Commenting on these recent developments, ARV’s Chairman David Lenigas said, “With cobalt being a must have metal for the growing electric vehicle and energy storage sectors, ARV’s identification of 6.54% cobalt is an exceptional grade and we are now seeing very good cobalt, copper and gold grades over good widths, strike length and depth.”
Assay results have confirmed the high grade nature of the northern area (Quod Est) at Carlow Castle. Holes completed to the west of the Carlow South resource area indicate that the mineralisation extends at least 150 metres to the west and remains open in that direction.
When the experts at Next Investors have a stock pick, it may pay to listen.
The Next Investors have been investing in ASX small cap stocks for years, with their best small cap picks yielding returns of 1,200%, 1,120%, 900% and 678%.
They have just revealed their hand-picked, FY2021 stock portfolio of high conviction long-term investments.
Click the link below to see what they are currently investing in.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.