The revolution in renewable energy and battery storage technology has fuelled the boom in lithium and now cobalt – which is needed for Li-ion batteries. If Lithium was the metal of 2016, then Cobalt is the metal of 2017 and 2018.
Before cobalt was on the radar, there was already a JORC (2012) Inferred Mineral Resource at Carlow Castle for 418,000 tonnes of Gold (Au) at 3.0 g/t and 0.6% Copper (Cu), for total of 40,000 ounces of gold, and 2,500 tonnes of copper. This is a 100% owned tenement (E47/1797) which is only 10km south of Roebourne. We’re continuing to assess the cobalt deposit with electromagnetic surveys, drilling and trenches.
|E47/1797||418,000 t||Gold = 3.0 g/t||40,000 oz|
|Copper = 0.6 %||2,500 t|
|Cobalt = ???||???|
In April 2017 we announced outstanding cobalt grades from our drilling program, with many Cobalt grades above 1%. Some of our best results were from drill hole ARC006 and ARC033a – our best cobalt result was 6.54%, with a 1m intercept at 54-55m in drill hole ARC006.
| ARC006 – 6m
| ARC006 – 1m
| ARC033a – 6m
With positive electromagnetic (EM) results, rotary air blast (RAB) drilling, reverse circulation (RC) drilling and metallurgical test work, Artemis Resources is looking to advance the Carlow Castle project towards an upgraded JORC resource – this time, with cobalt. These cobalt targets have been identified over a 3.5km trend and a major expansion of exploration drilling has been planned and submitted to the Department of Mines, Industry Regulation and Safety (DMIRS) for approval – which focuses on the electromagnetic (EM) anomalies indicating cobalt and gold. These future exploration plans include 128 RC drill holes, 13 trenches to sample 19,000t of ore and four diamond cores to provide geotechnical and structural information.
Cobalt has the potential to be a huge resource. Only 4% of the world’s cobalt is mined in Australia, yet Australia has 18% of the total reserves – this is excluding Carlow Castle. With the boom in batteries and corresponding spike in the price for cobalt, the potential for Australia and indeed Artemis Resources as cobalt producers is huge.
Also on the Carlow Castle tenement (E47/1797) there are copper and gold targets at the Goodluck and Little Fortune sites. In early 2016 we completed 656m of drilling and tested 171 assays.