Artemis Resources completes capital raising, activates exploration programs

Artemis Resources Ltd (ASX:ARV) has raised $2.12 million through a share placement priced at 2.5 cents to institutional and professional investors. The funds will be used for defining drill targets at the Patersons Central Gold-Copper Project and for increasing the gold and copper resources at Carlow Castle. A geochemical program to generate drill targets has been planned at Patersons Central, which notably surrounds the Havieron discovery. The Havieron discovery is owned by Greatland Gold (LON:GGP) and is being drilled by Newcrest Mining Ltd (ASX:NCM). Resource expansion drilling planned at Carlow Castle At Carlow Castle, a drilling plan has been finalised that will focus on increasing the JORC resource with down-dip and along-strike drilling. Carlow Castle’s inferred JORC resource is  418,000 ounces gold grading 1.6 g/t, 48,000 tonnes copper grading 0.51% and 7,000 tonnes cobalt grading 0.08%. Artemis aims to establish JORC resources that can support a profitable mining operation utilising its 100% owned Radio Hill processing facility.