Artemis Resources’ news about its Carlow Castle project is starting to sound like bragging — today it told investors that “exceptional” drilling results “persist”.

The gold explorer’s (ASX:ARV) latest news, following an update in July, is that drilling has intersected mineralisation over a distance of 500 metres between an area known as Quod Est to Carlow Castle South.

The shares are up 5 per cent to 18c today — though they’re still a long way from their one-year high of 59c at the height of the Pilbara gold nugget rush late last year (see graph below).

Artemis reported results including an intercept at 22m at 6.10g/t of gold, 0.55 per cent cobalt and 2.35 per cent copper from 133m.

Currently Artemis drilling is testing a 1.2km east-west strike to join Quod Est, Carlow Castle South and Carlow Castle South East into one large resource, before testing for further strike extensions.

Carlow Castle is to the north of Artemis’ Purdy’s Reward project, where it is trying to turn the ‘watermelon seed’ gold nuggets that litter the area into a resource.

Last week it said it was rethinking a plan to drill Australia’s deepest ever diamond drill hole after hitting an intrusive rock structure at 1348.5m.

The junior explorer (ASX:ARV) was initially aiming to drill down to 3300m, but has now decided to see how far the rock structure extends.

Artemis shares over the last 12 months.

Featured Companies

You might be interested in