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The inferred resource is 8.74 million tonnes at 2.5 grams per tonne gold, or 1.3gpt gold, 0.73% copper and 0.09% cobalt, for 374,000 ounces of gold, 64,000t of copper and 8000t of cobalt.
The bulk of the resource is open pit, reported at a 0.7gpt gold equivalent cut-off, but it also comprises an underground component of 1.49Mt at 3.1gpt gold equivalent, at a 2gpt cut-off.
The independent resource estimate was based on conservative assumptions to reflect the current inflationary environment.
All three deposits included in the resource remain open at depth, while two of the deposits are open along strike.
The resource doesn't include the high-grade Keel deposit which in 2020 returned 4m at 11.1gpt gold, 2% copper and 0.18% cobalt from 639m.
Artemis said the Greater Carlow resource compared favourably to other gold projects in the region on a grade equivalent basis.
Artemis executive director Alastair Clayton said the resource confirmed the project as a "robust, credible, high-grade multi-metal resource" and a platform for further growth.
"The next phase at Greater Carlow is to drill and add more high-grade tonnes to the open pit and underground resources, including the high-grade Keel Zone which is not included in this resource statement," he said.
"Importantly, this resource has taken into consideration recent industry cost escalation and still returned robust results.
"There is an adage used in mining that ‘grade is king', we believe this is as relevant today as it ever was.
"With a diverse potential product stream of gold and the key battery metals of copper and cobalt we believe Greater Carlow grade ranks very favourably against other comparable Western Australian pre-development resource projects."
Greater Carlow is just 25km from Karratha and 9km from Roeburne, which Artemis said would eliminate the need for an airstrip, accommodation village, power station and water plant.
Artemis had just under A$6.1 million at the end of June.
Shares in the company dropped 9.6% to 4.7c, giving it a market capitalisation of $69.2 million.
