Artemis Resources (ASX: ARV) has fired up the drill rigs at its Carlow Tenement in WA’s Pilbara, embarking on a diamond and reverse circulation (RC) drilling campaign targeting a 4km gold corridor.
The program will focus on three high-priority gold targets, including the Marillion electromagnetic (EM) conductor and the Titan Prospect, both untested despite sitting near Artemis’ existing 374,000oz inferred gold resource at Carlow.
Drilling to Unlock a Bigger Gold Opportunity
Artemis’ Carlow Tenement sits within the highly prospective North Pilbara gold province, an area known for its rich deposits of gold and base metals. The company is hoping to build upon its existing 374,000oz gold and 64,000t copper resource by testing for extensions at depth and along strike.
The timing of this drilling aligns with a stronger gold price environment, making additional ounces even more valuable. Given that gold is hovering around record highs, any resource expansion could have a material impact on Artemis' valuation.
The Targets: What Artemis is Chasing
The drilling program is split between two key methods:
- Diamond drilling is focusing on the Marillion EM conductor, located 500m east of Carlow. This anomaly could be a feeder zone for gold mineralisation at Carlow or even a separate system entirely. Additionally, diamond drilling will test down-plunge extensions of high-grade gold and copper at Carlow.
- RC drilling will be used to target shallow gold at the Titan Prospect, located 2km northwest of Carlow. Surface sampling here has already identified high-grade gold occurrences, and the structural complexity of the area suggests potential for a significant discovery.
Notably, none of these targets have been drilled before, despite their proximity to an established resource. This means that any significant intercepts could open up entirely new zones of mineralisation within Artemis’ landholding.
The Pilbara Factor: A Gold Hotspot in the Making?
The Pilbara has long been synonymous with iron ore, but in recent years, it's gained recognition as a gold exploration hotspot. Companies like De Grey Mining (ASX: DEG) have proven the region's gold potential, particularly with their Hemi discovery, which has transformed De Grey into an A$2.5 billion company.
Artemis, with its extensive tenement package, is aiming to replicate that kind of success. If this drilling program proves fruitful, it could position Artemis as a serious contender in the Pilbara gold space.
Managing Director Julian Hanna: "Exciting Potential for Expansion"
Artemis Managing Director Julian Hanna is optimistic about the program’s potential to significantly expand the company’s resource base:
“We are thrilled to announce the start of this diamond and RC drilling program, which will test three high-potential targets within a 4km long zone centred on our Carlow Mineral Resource.
The Marillion EM conductor is a standout target, and we are also excited to test Titan, which has shown promising gold occurrences from surface sampling. This drilling presents an opportunity to expand Carlow and uncover further mineralisation across our tenement package.”
Upcoming Catalysts: What to Watch For
With drilling now running 24 hours a day, investors should be on the lookout for several key catalysts:
- Initial drilling results – Any significant gold intercepts from the Marillion conductor or Titan could indicate a major new discovery.
- Follow-up drilling programs – If the results are promising, Artemis is likely to expand the program to test further extensions.
- Gold market conditions – With gold prices remaining strong, a larger resource base could increase the company’s attractiveness to investors and potential partners.
Final Thoughts
Artemis’ latest drilling campaign is more than just another exploration program—it’s a potential game-changer. With multiple high-priority, untested targets, a strong gold price backdrop, and clear expansion potential, this could be a defining moment for the company.
Now, it’s all about what the drill bit delivers. If Artemis can hit high-grade mineralisation, it could set the stage for a major resource expansion and elevate its standing in the Pilbara’s fast-emerging gold space.
For now, the rigs are turning, and the market is watching.
