Artemis Resources (ASX: ARV) is gearing up for its next major step at the Lulu Creek gold prospect, located in the Pilbara region of Western Australia. With heritage clearances secured and teams set to mobilise, the company is ready to test the site’s potential to host an Intrusive Related Gold System (IRGS). The campaign will build on earlier results that hinted at a promising gold zone extending over 1.5 kilometres.
A Long Time Coming, but the Rig Is Ready
After a lengthy process of obtaining clearances, Artemis is preparing to sink its teeth into Lulu Creek, with drilling scheduled to begin imminently. The heritage and ethnographic surveys have been successfully completed with the support of the Ngarluma Aboriginal Corporation, ensuring the project is proceeding with cultural sensitivity.
This marks a significant milestone for the company, as it navigates the often complex but essential steps in collaborating with Traditional Owners on land access.
Artemis’ Executive Director, George Ventouras, expressed his excitement about the prospect: "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... We are looking forward to getting the drill rig spinning."
What’s at Stake?
Lulu Creek is no stranger to drilling—back in 2020, 126 shallow RC holes revealed anomalous gold mineralisation at depths ranging from 20 to 50 metres. Among the highlights was an impressive 1-metre intersection at 4.89 g/t gold and 13.7 g/t silver from a shallow depth of just 24 metres. While most results hovered around 0.4g/t Au, these early hints of mineralisation set the stage for a deeper probe into what lies beneath.
Since then, Artemis has fine-tuned its exploration approach. In mid-2023, a dipole-dipole Induced Polarisation (IP) survey was conducted, which detected two strong chargeability anomalies. These anomalies align with the gold zones identified in 2020, giving Artemis a focused target to home in on.
This time around, the company’s drilling will aim to confirm the presence of gold within an interpreted quartz diorite intrusion, a type of geological setting often associated with IRGS deposits, known for their significant gold endowments.
Government Support
Further bolstering the project’s potential, the Western Australian Government has thrown its support behind the exploration. The Department of Mines, Industry Regulation and Safety (DEMIRS) awarded Artemis a co-funding grant under its Exploration Incentive Scheme (EIS). This financial backing will help cover part of the drilling costs, underscoring the government’s confidence in the region’s untapped mineral wealth.
The Bigger Picture: Greater Carlow Area
Artemis has made it clear that it intends to methodically explore its vast 200 square kilometre tenement package in the West Pilbara. With much of this ground lightly explored, the company’s current efforts at Lulu Creek are just the beginning of what could be a significant push to uncover additional gold zones and structural targets across the region.
What to Watch
With teams set to mobilise in the coming days, all eyes will be on Artemis’ progress at Lulu Creek. The combination of shallow mineralisation, favourable geological indicators, and government backing makes this a highly anticipated phase for the company.
For now, the market awaits the drill bit to start spinning, and with any luck, Lulu Creek will deliver results that further enhance Artemis’ standing as a major player in the Pilbara’s gold space. Investors should stay tuned for updates as the company moves forward with its drilling plans.