REG - Artemis Resources Ld - Quarterly Activities Report

Artemis ResourcesAnnouncement

29/07/2025 08:00

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RNS Number : 9726S  Artemis Resources Limited  29 July 2025

29 July 2025

 

Quarterly Activities Report

For the period ending 30 June 2025

_______________________________________________________________________________

During the June quarter, substantial preparatory work was undertaken by
Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) leading
up to a major exploration and drilling campaign at three core gold and copper
projects, all with excellent growth potential. Drilling is planned to start in
August with summaries of the three projects below.

Post the reporting period, Artemis successfully completed a placement 1 
(#_ftn1) to fund the exploration and drilling and early development studies at
Carlow.  On 21 July 2025 the Company announced firm commitments to raise
A$4.75 million from institutional and sophisticated investors with the
placement strongly supported by new and existing investors in Australia and
the United Kingdom.

 

Carlow Gold/Copper Extension Drilling

During the quarter the Company completed a review of more than 400 historic
drill holes which formed the basis of the 2022 Carlow Mineral Resource
estimate which contains 374koz gold and 66,000t copper 2  (#_ftn2) .  The
review focused on the potential of the high-grade gold and copper lodes within
the wider resource with support provided by more than 190 assays >10.0g/t
gold in 80 historic holes and more than 500 assays >2.0% copper in 162
historic holes 3  (#_ftn3) .

Planned drilling is intended to scope out the potential for significant
extensions to the high-grade gold and copper lode system, well beyond the
current limit of drilling 4  (#_ftn4) and includes:

Ø Widely spaced holes within a 600m gap along strike between the existing
resource and an isolated intersection of: 7m @ 2.9g/t Au, including 1m @
15.3g/t Au 5  (#_ftn5)

Ø Widely spaced holes to follow up an isolated historic intersection of: 4m @
11.1 g/t Au and 2.0% Cu 120m below the Carlow resource, which is open below
380m depth

Ø Drilling at the Chapman/Thorpe prospect to test for repetitions of
high-grade gold and copper lodes south of Carlow, below the flat lying Andover
Intrusion

 

A Project Manager will also be appointed to manage early development studies
at Carlow in parallel with the extension drilling program.  Studies will
include including conceptual open pit and underground mining studies,
metallurgical test work, and a review of processing options.

Figure 1:  Schematic longitudinal section extending 2.7km from recent
drilling at Titan to a 7m @ 2.9g/t gold intersection 600m east of the Carlow
Mineral Resource 6  (#_ftn6) - showing revised geological interpretation,
resource outline including pierce points of drill holes with >10g/t Au and
>2.0% Cu assays 7  (#_ftn7) and proposed drill holes (red diamonds)

 

Titan Satellite Gold Targets

Detailed geological mapping and data compilation of the extensive Titan
prospect  2-3km west of Carlow was completed during the quarter.  Despite
its proximity to Carlow and high-grade gold values reported in 2024 8 
(#_ftn8) from selective sampling by Artemis of quartz veins and brecciated
chert from four small outcrops, only 3 holes have been drilled at Titan.

Figure 2: Titan G1 Target - outcrop of brecciated and banded chert (approx. 5m
wide) with thin stockwork iron oxide veining.  Sample 24AR28-002 (above) from
this outcrop returned 51.8g/t Au(3,11).   Note: The grade of gold
occurrences from selective samples of chert and quartz veins in outcrops at G1
and in the wider Titan Prospect area may be elevated due to surface
enrichment.  Drilling is required to provide an indication of gold grades
below surface

 

 

Figure 3: Titan Prospect within the Carlow Tenement - showing chert outcrops
(brown), major thrusts (black) extending >7km across Carlow Tenement, area
of March Q drilling at Titan, and 4 interpreted gravity-high anomalies
(G1-G4).

Three holes (25ARDD003, 25ARDD004, 25ARDD005) were drilled along one traverse
on the eastern side of Titan by Artemis 9  (#_ftn9) in February 2025.  All
holes intersected elevated gold intervals up to 0.5g/t Au in a previously
untested sequence of strongly altered chrome-rich ultramafics and sediments.
A peak value of 1m @ 16.4g/t Au in hole 25ARDD004 from 67m down hole depth 10 
(#_ftn10) was intersected in a 50m wide porphyry dyke intruded into the
sequence.

The next phase of drilling at Titan will comprise shallow, low-cost RC drill
traverses to identify gold and related geochemical anomalies and provide
geological data across wide areas with transported cover. A gravity survey was
completed in June and confirmed 4 discrete gravity anomalies (G1-G4)
interpreted within the wide, structurally complex Regal Thrust zone.

A heritage survey has also been completed for drilling access in the western
part of Titan including the G1 anomaly. While the outcome of the heritage
survey is awaited, Artemis is targeting a start in late August and has
contacted RC drilling contractors to test the following :

Ø Along strike from the previously untested ultramafic/sediment sequence
intruded by porphyry which was intersected for the first time by Artemis in
March Q.  All three holes intersected elevated gold up to 0.5g/t Au (peak
assay: 1m @ 16.4g/t Au) 11  (#_ftn11)

Ø Below the undrilled 400m wide G1 gravity anomaly in an area where selective
sampling of small outcrops of brecciated and ferruginous chert returned assays
up to 51.8g/t Au 12  (#_ftn12) .  50m spaced RC drill traverses are planned
initially (Refer Figure 4)

 

 

 

Figure 4: Outline of G1 gravity anomaly 13  (#_ftn13) showing site photos of
small outcrops of brecciated and ferruginous chert, including three areas
(yellow) with high grade surface gold occurrences(3.  ) Planned RC drill
holes shown in red.

 

Cassowary IOCG Copper-Gold - Exploration Project

Excellent progress has been made at the Cassowary Project including further
interpretation of data from previous explorers in the region and progress
towards having the tenements granted which should enable drilling to get
underway to test the large Cassowary Intrusion.

The Cassowary Intrusion is a rare opportunity to test a large, undrilled
exploration target in a very favourable geological setting for potential IOCG
type copper/gold mineralization.  The potential for IOCG type copper-gold
mineralisation occurring in the Cassowary area has been given added
credibility with adjacent EL applicant WA1 Resources also announcing it is
targeting IOCG 14  (#_ftn14)

 

Ø Artemis tenements cover a total 538km(2) including the initial EL
application (330km(2)) over the interpreted 5km wide Cassowary Intrusion and
two nearby EL applications (total 203km(2)) over other interpreted intrusions
with favourable geophysical characteristics

Ø Negotiations for an Access Agreement including terms for a heritage survey
for the three EL applications is progressing.  Assuming this agreement is
signed in the near future, the Cassowary EL should proceed towards being
granted in the September quarter

Ø Quotes have been received to conduct a detailed gravity survey across the
Cassowary Intrusion once the EL is granted to assist in defining drill
targets

 

Figure 5: Regional magnetic image (source: GSWA- Geoview image) showing
interpreted crustal boundaries parallel to the Yilgarn Craton margin (orange),
location of interpreted intrusions within the Cassowary Project and Artemis
tenement applications covering 538km(2) (yellow)

--------------------------------------------------------------------------------------------------------------------------

Pilbara Lithium Joint Venture (ARV 50%) - Andover Lithium

Artemis and GreenTech Metals (ASX: GRE, 'GreenTech') have executed a binding
agreement to consolidate the lithium mineral rights of their respective
tenement holdings near Karratha in the West Pilbara.  The combined lithium
mineral rights will be held in a joint venture company called Andover Lithium
Pty Ltd ('Andover Lithium') with Artemis and GreenTech each holding 50%
interest.  (Refer to Artemis ASX announcement on 3 April 2025).

Andover Lithium will create the largest lithium exploration holding in the
West Pilbara with over 420 km(2) situated along strike from Azure Minerals
lithium discovery (refer Figure 6). The tenement package encompasses a large
part of the Karratha-Roebourne lithium corridor and includes six known lithium
prospective areas, four with significant outcrops of spodumene bearing
pegmatites.  Consolidation of the extensive lithium interests into a joint
venture structure provides an opportunity to attract a major funding partner
into Andover Lithium.

The combined tenements contain undrilled lithium bearing pegmatite outcrops
within the same regional corridor which hosts the Tier 1 lithium pegmatite
project discovered by Azure Minerals that has a reported Exploration Target of
100 - 240Mt @ 1.0 - 1.5% Li(2)O(( 15  (#_ftn15) ))

Consolidation of the extensive lithium interests of Artemis and GreenTech into
a 50:50 joint venture will allow the two companies to focus on their core
exploration and resource expansion activities in the Karratha region,
respectively for gold and copper/zinc.  The consolidation should not require
any substantial management time or involve any material costs from either
company.

 

Figure 6: Andover Lithium Joint Venture Tenements (orange outline) with known
Li pegmatites (red circles)

Corporate

On 21 July 2025 the Company announced it had received firm commitments to
raise A$4.75 million at $0.004 per share from institutional and sophisticated
investors. The placement was oversubscribed and strongly supported by new and
existing institutional investors and existing investors both in Australia and
United Kingdom. Funding will enable advancement of gold and copper exploration
programs at the Carlow, Titan and Cassowary projects

 

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

 

 

 

 

Appendix

 

                          Schedule of tenement holdings at end of
Q3 CY2025. All are in Western Australia

 

 Tenement  Project           Holder                     Holding  Status
 E47/1797  Greater Carlow    KML No 2 Pty Ltd           100%     Live
 E47/1746  Cherratta         KML No 2 Pty Ltd           100%     Live
 E47/3719  Osbourne          KML No 2 Pty Ltd           49%      Live
 P47/1972  Cherratta         KML No 2 Pty Ltd           100%     Live
 M47/337   Radio Hill        Fox Radio Hill Pty Ltd     100%     Live
 M47/161   Radio Hill        Fox Radio Hill Pty Ltd     100%     Live
 E47/3361  Radio Hill        Fox Radio Hill Pty Ltd     100%     Live
 L47/93    Radio Hill        Fox Radio Hill Pty Ltd     100%     Live
 E45/5276  Central Paterson  Elysian Resources Pty Ltd  100%     Live
 E69/4266  Madura West       KML No 2 Pty Ltd           100%     Pending
 E69/4317  Madura West       KML No 2 Pty Ltd           100%     Pending
 E69/4318  Madura West       KML No 2 Pty Ltd           100%     Pending

 

Carlow mineral resource estimate - Refer to Artemis ASX announcement 13
October 2022.

 
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.

 

About Artemis Resources

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

·    Attractive projects:

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

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

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

·    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-copper-cobalt Inferred Mineral Resource at Carlow (100%-owned tenure)

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

·    IOCG Exploration Target: Artemis has applied for 538km(2) as
exploration licences 440km east of Kalgoorlie covering a large interpreted
magnetic intrusion prospective for IOCG type copper/gold

 

 

 

 

 

 

 

 

 

 

 

 

Figure 7: Satellite image showing outline of Artemis tenement holdings south
and east of Karratha

 1  (#_ftnref1) Refer to Artemis ASX announcement on 21 July 2025

 2  (#_ftnref2) Refer to Artemis ASX announcement on 13 October 2022 and
Figure 1 in this announcement

 3  (#_ftnref3) Refer to Artemis ASX announcement on 3 June 2025

 4  (#_ftnref4) Refer to Artemis ASX announcement on 3 June 2025

(#_ftnref5) (5) Refer to Artemis ASX announcement on 28 April 2025

 

 6  (#_ftnref6) Refer to Artemis ASX announcement on 13 October 2022

 7  (#_ftnref7) Refer to Tables 1-4 in Artemis ASX announcement on 28 April
2025

 8  (#_ftnref8) Refer to Artemis ASX announcement on 3 June 2025

 9  (#_ftnref9) Refer to Artemis ASX announcement on 28 April 2025

 10  (#_ftnref10) Refer to Artemis ASX announcement on 28 April 2025

 11  (#_ftnref11) Refer to Artemis ASX announcement on 28 April 2025

 12  (#_ftnref12) Refer to Artemis ASX announcement on 28 January 2025

 13  (#_ftnref13) Refer to Artemis ASX announcement on 3 June 2025

 14  (#_ftnref14) Refer to WA1 ASX announcement 28 April 2025

 15  (#_ftnref15) Refer to Azure Minerals ASX Announcements dated 2 May 2024
and 7 August 2023

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