Artemis Resources (ASX:ARV) announced a significant increase in the mineral resource estimate in grade and metal tonnes in accordance with JORC Code at the company’s 100 percent owned Carlow Castle project.
As quoted in the press release:
“The new mineral resource estimate including geological and structural models undertaken by independent consultants CSA Global has significantly increased metal tonnes giving the Artemis board confidence to move Carlow Castle towards scoping study and then feasibility. A small fully funded work program of infill drilling will be undertaken with the objective of allowing conversion of a part of the mineral resource estimate to higher classification (Indicated) and to feed into a scoping study and financial model, prior to conducting a feasibility study. We are in the fortunate position of owning a processing plant just ~35 km from the deposit and we look forward to accelerating the project and taking full advantage of this,” Artemis Resources Executive Director Ed Mead said.