How Will Artemis Unlock Carlow’s Potential Amid Surging Gold and Copper Prices?
Artemis Resources is progressing its Carlow Gold and Copper Project with a new conceptual mining study and planned extensional drilling, aiming to capitalise on rising gold and copper prices.
- Conceptual mining study underway by Snowden-Optiro
- Extensional drilling to start December 2025 targeting high-grade zones
- Recent high-grade gold intersections at Titan East satellite target
- Study to inform resource growth, metallurgy, and development options
- Potential for significant value uplift amid stronger commodity prices
Context and Commodity Tailwinds
Artemis Resources Limited has taken a decisive step forward at its Carlow Gold and Copper Project, located in Western Australia's North Pilbara region. The company has commissioned Snowden-Optiro, a respected independent mining consultancy, to conduct a conceptual mining study. This initiative comes at a time when gold prices have surged approximately 250% since the last resource update in October 2022, and copper prices have also risen by around 30%, significantly enhancing the project's economic outlook.
Mining Study and Development Optionality
The Snowden-Optiro study will explore various development scenarios, including both open pit and underground mining options. Its outputs are designed to guide Artemis’s upcoming extensional drilling program, metallurgical testing, and early-stage development strategies. By evaluating these options in parallel, Artemis aims to unlock the full potential of the Carlow resource, which currently stands at 374,000 ounces of gold, 64,000 tonnes of copper, and 8,000 tonnes of cobalt.
Extensional Drilling Targets and Satellite Potential
Extensional drilling is scheduled to commence in December 2025, initially focusing on a promising gold intersection located 600 metres east of the current resource envelope. This target was highlighted by a previous drill hole that intersected 7 metres at 2.9 grams per tonne gold. Further drilling will test deeper zones beneath Carlow, where historic results include a high-grade intersection of 4 metres at 11 grams per tonne gold and 2% copper, which has not yet been followed up.
Meanwhile, satellite targets near Carlow are showing encouraging signs. Notably, recent drilling at Titan East, just 1.5 kilometres from Carlow, returned a high-grade gold intersection of 5 metres at 13.1 grams per tonne. Follow-up drilling at Titan East is set to begin imminently, with final assay results from recent programs still pending.
Strategic Positioning and Future Outlook
Executive Director Jozsef Patarica emphasised the importance of this multi-pronged approach, combining the mining study with targeted drilling to enhance resource growth and development readiness. The rising gold and copper prices materially improve the project’s optionality and potential value creation for shareholders. Artemis’s broader portfolio, including other gold, copper, and lithium projects in the Pilbara and beyond, positions the company well within a rapidly emerging mining jurisdiction.
Looking ahead, Artemis plans to integrate drilling results into an updated resource analysis in early 2026, which will be a critical milestone for advancing Carlow towards development decisions.
Bottom Line?
As Artemis deepens its understanding of Carlow’s potential, the coming months will be pivotal in shaping the project’s path amid a favourable commodity backdrop.
Questions in the middle?
- How will the Snowden-Optiro study influence Artemis’s development timeline and capital requirements?
- What do the pending assay results from Titan East reveal about the satellite targets’ scale and grade?
- Could the extensional drilling below Carlow redefine the resource’s size and economic viability?
