REG - Artemis Resources Ld - Cassowary Tenement Granted Holdings Expanded

Artemis ResourcesAnnouncement

Mon 07:00

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RNS Number : 6196V  Artemis Resources Limited  18 August 2025

 

18 August 2025

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended ("MAR"). Upon
the publication of this announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain.

 

Artemis Resources Limited

 

("Artemis" or "The Company")

 

Cassowary Tenement Granted Holdings Expanded

 

 

Cassowary Project - Key Cassowary Tenement Granted Holdings Expanded to cover
additional Copper-Gold Targets

 

Highlights

 

·      Exploration Licence E69/4266 (341km²) covering the large
Cassowary Intrusion 1  (#_ftn1)  granted on 11 August.  Geophysical surveys
and drilling planned to start in December Qtr

·      Four magnetic and structural targets (T1-T4) identified within
E69/4266. The Cassowary Intrusion (T1) is the first priority for drilling

·      Targets exhibit geophysical features with similarities to IOCG
type and other intrusion-related copper and gold deposits such as Ernest
Henry, Carrapateena and Havieron

·      E69/4266 covers northern part of interpreted 30-40km wide rift
zone bounded by the Madura Crustal Boundary to the west and an un-named
geological domain to the east

·      Further application made for a large exploration licence
(EL69/4330 for 447km(2)) to cover additional interpreted intrusions in the
southern part of the rift zone 2  (#_ftn2)

·      Negotiated terms for an access agreement with the Pila Nguru
Aboriginal Corporation with agreement expected to be executed at an upcoming
meeting

·      Artemis well funded to conduct geophysical surveys and initial
drilling program at Cassowary following recent $4.75m placement announced 21
July

·      Also on track for a September start to RC drilling at Titan
Prospect near the Carlow gold/copper resource 3  (#_ftn3) in the north
Pilbara, followed by drilling for extensions to Carlow

Artemis Resources Limited (ASX/AIM: ARV) ("Artemis" or "the Company") is
pleased to advise that Exploration Licence E69/4266 covering the large,
interpreted Cassowary Intrusion and three adjacent targets has been granted.
 Cassowary is 440km east of Kalgoorlie and accessable via the Trans rail line
road, the Connie Sue 'Highway' and station tracks. (Refer Figure 1)

Project Background

The Cassowary Project covers several undrilled interpreted intrusions within a
30-40km wide, previously undocumented, interpreted rift zone - below an
estimated 250-300m of consolidated Eucla Basin sediments comprising limestone,
sandstone and shale. (Refer Figure 2)

The estimated thickness of the Eucla Basin sequence is based on 13 historic
holes drilled across the region which have an average depth of 239m to the
Proterozoic basement. The interpreted rift zone is expected to include
metamorphosed sediments, mafic volcanic units and intrusions based on sparse
drilling across the Madura Province and available geophysical data 4  (#_ftn4)
.

 

The interpreted intrusions may be related to rift margins and cross cutting
structures. The Company recently increased its tenement area to around
990km(2) to cover additional targets within the interpreted rift zone, south
of two applications by WA1 Resources Limited (WA1) 5  (#_ftn5) .

Cassowary Intrusion

The interpreted Cassowary Intrusion is the highest priority target (T1) on
E69/4266 with drilling likely to follow a detailed gravity survey to assist
drill targeting.  The Cassowary Intrusion 6  (#_ftn6) :

Ø has a large magnetic footprint (5-10kms in width)

Ø is located on the contact of the Madura Crustal Boundary

Ø coincides with a cross-cutting NW-SE trending, 3-4km wide interpreted fault
zone

Ø interpreted to have disrupted surrounding magnetic units by >20kms

Ø may represent a long-lived focus for magmatic activity

Ø may also represent a possible conduit for hydrothermal fluids

 

Julian Hanna, Managing Director, commented:

 

"I am happy to report the Artemis team is very excited to have the Cassowary
tenement granted which should enable field activities to get underway soon.
The 7-month application period has been put to good use by Artemis Chief
Geologist, Oliver Hirst.  Oliver has made excellent progress in building our
understanding of the unique potential of this area which we think has been
overlooked by previous explorers and majors who have held tenements in the
region.

Only two holes (BKD 1 and BKD 2) are recorded as having been drilled within
the area shown in Figure 2.  Both holes were drilled by Gunson Resources in
2009, with both reporting elevated copper in a Proterozoic mafic intrusion,
25km south-east of Cassowary.

The Cassowary Intrusion is a rare opportunity to explore the potential for
large-scale IOCG type Copper/Gold deposits and other deposit types including
Nickel/Copper/PGE (mafic intrusion type) and Gold (hydrothermal vein systems)
in an area with effectively no prior drilling.

We look forward to reporting progress at Cassowary in the lead up to the
initial drilling program and the team at Artemis is working hard to get
drilling underway as soon as possible".

 

For more information, please visit  www.artemisresources.com.au
(http://www.artemisresources.com.au/)

This announcement was approved for release by the Board.

 

 Artemis Resources Ltd                    info@artemisresources.com.au (mailto:info@artemisresources.com.au)
 Guy Robertson, Chairman

 Julian Hanna, Managing Director

 Zeus (Nomad & Broker)

 Antonio Bossi / James Bavister /

 Gabriella Zwarts                         Tel:  +44 20 3829 5000

info@artemisresources.com.au (mailto:info@artemisresources.com.au)

 

 

 

Tel:  +44 20 3829 5000

 

 

Figure 1: Location map showing three major crustal boundaries, Cassowary
tenements and main access roads

 

Figure 2 Magnetic image 7  (#_ftn7) showing Madura Crustal Boundary,
interpreted rift zone, Artemis and WA1 Resources tenements and priority
targets within the area of Northern Intrusions.  Source: TMI image from
Geoscience Australia survey P1208 (Eucla Basin 1, 2009) at 200 m line spacing.
Data locally enhanced to assist geological/structural interpretation

 

Figure 3: Grey scale magnetic image
 8  (#_ftn8)
 of the interpreted Cassowary Intrusion within EL 69/4266

 

 Project    Tenement  Holder            Holding  Area km(2) (approx)  Status
 Cassowary  E69/4266  KML NO 2 Pty Ltd  100%     341                  Live
 Cassowary  E69/4317  KML NO 2 Pty Ltd  100%     99                   Pending
 Cassowary  E69/4318  KML NO 2 Pty Ltd  100%     104                  Pending
 Cassowary  E69/4330  KML NO 2 Pty Ltd  100%     447                  Pending

Table 1: Schedule of Tenements at Cassowary Project held by Artemis subsidiary
KML No 2 Pty Ltd

 

Competent Person Statement

The information in this report that relates to Exploration Results was
compiled by Mr Julian Hanna, a Competent Person who is a member of the
Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hanna is
Managing Director of Artemis Resources Ltd and has sufficient experience that
is relevant to the style of mineralisation and type of deposit under
consideration and to the activity being undertaken to qualify as a Competent
Person as defined in the 2012 Edition of the 'Australasian Code for Reporting
of Exploration Results, Mineral Resources and Ore Reserves". Mr Hanna consents
to the inclusion in this report of the matters based on his information in the
form and context in which it appears.

No New Information

To the extent that this announcement contains references to prior exploration
results which have been cross referenced to previous market announcements made
by the Company, unless explicitly stated, no new information is contained. The
Company confirms that it is not aware of any new information or data that
materially affects the information included in the relevant market
announcements and, in the case of estimates of Mineral Resources, that all
material assumptions and technical parameters underpinning the estimates in
the relevant market announcements continue to apply and have not materially
changed.

 

Forward Looking Statements

This announcement contains historical facts, interpretations and statements
relating to the Company's current exploration projects, drill targets, plans,
estimates, objectives, and strategies which are forward-looking statements.
Such forward-looking statements involve known and unknown risks, uncertainties
and other important factors beyond the Company's control that could cause the
actual results, performance, or achievements of the Company to be materially
different from future results, performance or achievements expressed or
implied by such forward-looking statements. Accordingly, any reliance you
place on such forward-looking statements will be at your sole risk and the
Company expressly disclaims any obligation or undertaking to disseminate any
updates or revisions to any forward-looking statements contained in this
announcement to reflect any changes in its expectations with regard thereto or
any change in events, conditions or circumstances on which any statement is
based. The information contained in this announcement is subject to change
without notice. No representation or warranty, express or implied, is given as
to the accuracy, completeness or fairness of the information or opinions
contained in this announcement and no liability is accepted by the Company or
any of its directors, members, officers, employees, agents, or advisers for
any such information or opinions.

________________________________________________________________________________________

 

About Artemis Resources

Artemis Resources (ASX/AIM:ARV) is a gold, copper and lithium focused
resources company with a highly attractive suite of projects including
projects in Western Australia's underexplored North Pilbara Gold Province and
the Cassowary copper/gold exploration project 440km east of Kalgoorlie in
Western Australia.

·    Attractive projects:

o  Gold/Copper - Karratha Gold Project (100%) multiple prospects incl:
Carlow, Titan, Thorpe

o  Copper/Gold - Cassowary Intrusion Exploration Project - large IOCG type
targets

o  Paterson Gold/Copper Project - adjacent to Havieron Mine (owned Greatland
Gold)

o  Lithium - Artemis/Greentech Lithium JV: Mt Marie, Kobe, Osborne

·    Highly strategic location: Tier 1 jurisdiction, close proximity to
major hub at Karratha including regional rail and road infrastructure,
administrative centre and Dampier Port

·    Significant exploration upside: highly prospective tenure package in
the Pilbara Region of Western Australia which is rapidly emerging gold
province dominated by >12Moz Au Hemi Project

·    Mineral Resource with growth potential: existing high-grade
gold-copperMineral Resource at Carlow

·    Established processing site at Radio Hill: strategically located,
fully permitted

·    Cassowary Exploration Project: Artemis holds a granted 341km(2)
exploration licence covering the large, interpreted Cassowary Intrusion
prospective for IOCG type copper/gold and has applied for three other
exploration licences to cover other interpreted intrusions within a 30-40km
wide rift zone

 1  (#_ftnref1) Refer to Artemis ASX announcement on 28 January 2025

 2  (#_ftnref2) Refer to Figure 2 in this announcement

 3  (#_ftnref3) Refer to Artemis ASX announcements on 13 October 2022 and 3
June 2025

 4  (#_ftnref4) Refer to Figure 2 in this announcement

 5  (#_ftnref5) Refer to WA1 Resources announcement on 28 April 2025 and
Figure 2 in this announcement

 6  (#_ftnref6) Refer to Figures 2 and 3 in this announcement

 7  (#_ftnref7) Source of magnetic image: Geoscience Australia survey P1208
(Eucla Basin 1, 2009)

 8  (#_ftnref8) Source of magnetic image: GSWA Geoview

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