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.
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 drilling program is split between two key methods:
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 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.
“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.”
With drilling now running 24 hours a day, investors should be on the lookout for several key catalysts:
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.