REG - Artemis Resources Ld - Quarterly Activities Report

Artemis ResourcesAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260130:nRSd9959Qa&default-theme=true

RNS Number : 9959Q  Artemis Resources Limited  30 January 2026

30 January 2026

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.

 

Quarterly Activities Report

For the period ending 31 December 2025

_______________________________________________________________________________

 

Artemis Resources Limited ('Artemis' or the 'Company') (ASX: ARV) is pleased
to provide its Quarterly Activities Report for the period ended 31 December
2025 (the quarter).

During the quarter, the Company delivered a significant exploration
breakthrough at the Titan East prospect within the Karratha Gold-Copper
Project, advanced development studies at Carlow, and expanded its copper
growth pipeline through the execution of a new earn-in and joint venture
agreement in the Madura Province. Artemis also entered into a non-binding
Memorandum of Understanding to collaboratively assess processing options for
the Elizabeth Hill Silver mine and positioned its technical team for drilling
programs scheduled in early 2026.

Quarter Highlights (December 2025)

·    Titan East discovery breakthrough: Confirmation of a new shear-hosted
gold system with high-grade results of 5m @ 13.1g/t Au (25ARRC006) and 19m @
1.6g/t Au (25ARRC025), supporting an emerging mineralised trend over
approximately 600m strike and triggering follow-up diamond drilling (refer to
ASX announcement dated 29 October 2025 and 19 December 2025).

·    Carlow development studies initiated: Commencement of a conceptual
mining study to assess potential open pit and underground development
scenarios in parallel with planned extensional drilling (refer to ASX
announcement dated 17 November 2025).

·    Madura Province expansion: Execution of an earn-in and joint venture
agreement with Red Metal Limited to earn up to 60% of the Sharon Dam IOCG
Project, establishing a second district-scale copper growth opportunity
alongside Cassowary (refer to ASX announcements dated 24 December 2025).

·    Radio Hill optionality advanced: Signing of a non-binding Memorandum
of Understanding with West Coast Silver to assess the suitability of the Radio
Hill Processing Plant for potential toll treatment opportunities (refer to ASX
announcement dated 4 December 2025).

·    Post-quarter corporate update: Julian Hanna transitioned from
Technical Director to Project Manager (Cassowary and Sharon Dam) under a
consultancy agreement effective 1 January 2026 (refer to ASX announcement
dated 31 December 2025). Artemis announced its intention to delist from the
AIM Market of the London Stock Exchange, with the objective of reducing costs
and compliance overheads and consolidating trading liquidity on ASX (refer
ASX announcement dated 15 January 2025).

Karratha Gold-Copper Project

Titan East Gold Discovery

 

The December quarter was headlined by a transition from exploration targeting
to discovery at the Titan East prospect, located approximately 1.5km northwest
of the Carlow Gold-Copper Resource (refer to ASX announcement dated 29 October
2025).

 

Assay results from the first reverse circulation (RC) hole drilled to test a
newly identified north-east trending shear zone returned a high-grade
intersection of 5m @ 13.1g/t Au from 132m in hole 25ARRC006, representing the
first drilling to test this interpreted structural position (refer to ASX
announcement dated 29 October 2025).

 

Follow-up drilling confirmed continuity of mineralisation along the shear
zone, with hole 25ARRC025 intersecting 19m @ 1.6g/t Au from 127m, supporting
the presence of a coherent mineralised system, (refer to ASX announcement
dated 19 December 2025).

 

Gold mineralisation is associated with vein quartz and alteration within a
structural zone parallel to the Regal Thrust, the same regional-scale
structure that hosts the Carlow deposit. The Titan East area is largely
obscured by transported sediments, which has historically limited the
effectiveness of surface exploration and highlights the importance of
drilling-led discovery.

 

In response to these results, Artemis commenced diamond drilling during the
quarter to define the geometry, orientation and potential scale of the
mineralised shear zone. Diamond hole 25ARDD006 was collared on 10 December
2025, with early core observations confirming successful intersection of the
targeted structure at depth. Assay results were pending at quarter end (refer
to ASX announcement dated 19 December 2025).

 

Next steps (March 2026 quarter):

·    Completion and assay of diamond drilling

·    Follow-up diamond drilling to test strike and depth continuity

·    Integration of results into the Carlow-Titan geological model

 

Carlow Gold-Copper Project

The Carlow Gold-Copper Project remains a cornerstone asset within Artemis'
Pilbara portfolio, hosting a JORC 2012 Inferred Mineral Resource of 374koz
gold and 64kt copper (refer to ASX announcement dated 13 October 2022), which
remains open along strike to the east and at depth below approximately 380
metres vertical.

 

During the quarter, Artemis commenced a conceptual mining study, being
undertaken by independent consultants Snowden-Optiro, (refer to ASX
announcement dated 17 November 2025), to assess potential development
scenarios and support ongoing technical evaluation of the project.

 

The study is examining a range of open pit and underground optimisation
concepts and is being conducted in parallel with planned extensional drilling.
This work is being advanced against a materially stronger commodity price
environment compared with the assumptions underpinning the October 2022
Mineral Resource Estimate.

 

 

Outputs from the study are intended to guide near-term decision-making,
including drill targeting priorities, resource growth opportunities,
metallurgical sampling requirements and early-stage development pathways.

 

Next steps (March 2026 quarter):

·    Completion of the conceptual mining study

·    Integration of drilling results into updated geological and
development assessments

 

 

Figure 1: Interpreted long section through the Titan-Carlow corridor showing
geological and structural interpretation, Titan East discovery drill
intersections and outline of the Carlow Mineral Resource.

 

Madura Province - Copper Growth Strategy

Cassowary Exploration Project

Artemis is systematically advancing its 1,129km² landholding along the Madura
Crustal Boundary in south-eastern Western Australia, targeting large-scale
IOCG-style copper-gold systems.

Following execution of the Land Access Agreement with the Pila Nguru
(Aboriginal Corporation) RNTBC in October 2025, (refer to ASX announcement
dated 13 October 2025), the Company has full operational access to the granted
341km² core exploration licence (E69/4266).

Cassowary is centred on an interpreted intrusive complex situated along a
major lithospheric boundary separating the Yilgarn Craton from the
Albany-Fraser Orogen, a geological setting considered favourable for
large-scale intrusion-related mineral systems.

During the quarter, work programs were lodged for four initial diamond drill
sites, targeting the core of the interpreted Cassowary Intrusion (Target T1)
and associated structural corridors. These programs are designed to test the
presence of copper-gold mineralisation beneath transported cover.

Sharon Dam IOCG Project (Earn-In / Joint Venture)

During the quarter, Artemis executed an Earn-In and Joint Venture agreement
with Red Metal Limited (ASX:RDM) to secure a majority interest in the Sharon
Dam IOCG Project, (refer to ASX announcements dated 24 December 2025), located
approximately 50km south of Cassowary within the same regional structural
corridor.

Sharon Dam is defined by a coincident magnetic and gravity anomaly interpreted
to represent a prospective intrusive system concealed beneath approximately
250 metres of transported cover, which is materially shallower than many
comparable IOCG targets in Australia.

Under the agreement, Artemis may earn up to 60% interest by spending A$5
million over three years, including a minimum A$400,000 drilling commitment
within 12 months.

The project has an existing Exploration Incentive Scheme (EIS) co-funding
allocation of up to approximately A$220,000, which will reduce net drilling
costs but does not count toward the minimum expenditure requirement under the
earn-in agreement.

Drilling is targeted for late Q2 2026, subject to heritage clearance.

 

 

 

 

 

 

Figure 2: Location plan highlighting mineral deposits and occurrences
associated with Proterozoic age crustal boundaries, parallel with the Yilgarn
craton margin. Madura Crustal Boundary shown in red.

 

 

Corporate

Processing & Infrastructure

Radio Hill Processing Plant

Artemis holds 100% ownership of the fully permitted Radio Hill Processing
Plant, located near Karratha in Western Australia.

During the quarter, the Company executed a non-binding Memorandum of
Understanding (MoU) with West Coast Silver Limited (ASX: WCE) (refer to ASX
announcement dated 4 December 2025) to assess the potential suitability of the
Radio Hill plant for processing high-grade silver ore from the Elizabeth Hill
Silver Mine.

The MoU is assessment-focused only and does not constitute a binding
processing or toll treatment agreement. The evaluation is intended to
determine whether the existing plant configuration could be optimised to
support potential third-party material.

 

This work reinforces the strategic optionality provided by Artemis' infrastructure ownership and the potential for Radio Hill to operate as a regional, multi-commodity processing facility.

Figure 3: Radio Hill Processing Plant Location; Proximal to the Elizabeth Hill
Silver Project

 

 

Finance and AGM Results

At the Annual General Meeting held on 27 November 2025, shareholders approved
all resolutions put to the meeting on a poll, including the adoption of the
Remuneration Report, the election and re-election of Directors, and the
ratification of prior share issues.

 

In accordance with ASX Listing Rule 5.3.1, exploration expenditure during the
quarter was primarily directed toward drilling activities at the Karratha
Gold-Copper Project (Titan East) and preliminary joint venture costs
associated with the Sharon Dam IOCG Project.

 

Board and Management Update

To ensure focused technical execution across its frontier copper growth
assets, Julian Hanna transitioned to the role of Project Manager (Cassowary
and Sharon Dam) under a consultancy agreement effective 1 January 2026 (refer
to ASX announcement dated 31 October 2025).

During the quarter, Ms Vivienne Powe and Mr Guy Robertson retired from the
Board. The Board acknowledged their contributions to the Company (refer to ASX
announcement dated 29 September 2025 and 27 November 2025).

 

Cash

The Company held approximately $2,446,000 in cash at the end of the quarter.
This provides funding into H2 2026 for planned drilling and studies.

 

Issued Capital

The capital structure of the Company as of 31 December 2025 was:

 

 Ordinary fully paid shares                                           3,770,922,165
 Listed Options exercisable at $0.025 on or before 9 March 2026       313,732,039
 Unlisted Options exercisable at $0.01 on or before 13 October 2028   150,000,000
 Unlisted Options exercisable at $0.02 on or before 20 December 2027  25,000,000
 Unlisted Options exercisable at $0.02 on or before 8 September 2027  5,000,000
 Unlisted Options exercisable at $0.015 on or before 4 March 2027     67,321,429

 

 

APPENDIX 5B DISCLOSURES

 

Exploration Activities (ASX LR 5.3.1)

During the December 2025 quarter, the Company incurred exploration expenditure
of approximately $1,046,000.  The Company held approximately $2,446,000 in
cash at the end of the reporting period.

 

Mining Production and Development (ASX LR 5.3.2)

The Company confirms that there were no mining production or development
activities undertaken during the quarter by the Company or its subsidiaries.

 

Tenements (ASX LR 5.3.3)

No mining tenements were acquired or disposed of during the quarter.

During the quarter, the Company entered into an earn-in and joint venture
(farm-in) agreement with Red Metal Limited in relation to the Sharon Dam IOCG
Project (refer ASX announcement dated 24 December 2025).

A schedule of mining tenements held by the Company, including percentage
interests, is provided on page 8.

 

Related Party Transactions (ASX LR 5.3.5)

Payments to related parties during the quarter totalled $310,000, comprising
directors' fees and remuneration, as well as fees paid to related entities for
corporate and consulting services provided to the Company, as disclosed in
item 6.1 of the Appendix 5B.  All related party transactions were conducted
on normal commercial terms.

 

 

 

 

 Project                Tenement  Project Area          Holder/Applicant         Holding  Status   End Date
 Karratha Gold Project  E47/1797  Carlow - Titan        KML No 2 Pty Ltd         100%     Live     6 May 2026
                        E47/1746  Carlow West           KML No 2 Pty Ltd         100%     Live     15 May 2026
                        E47/3719  Osborne               KML No 2 Pty Ltd         49%      Live     27 Feb 2030
                        P47/1972  Cherratta Road        KML No 2 Pty Ltd         100%     Live     25 Aug 2029
                        M47/337   Radio Hill            Fox Radio Hill Pty Ltd   100%     Live     21 Mar 2036
                        M47/161   Radio Hill            Fox Radio Hill Pty Ltd   100%     Live     23 Feb 2031
                        E47/3361  Radio Hill            Fox Radio Hill Pty Ltd   100%     Live     4 April 2028
                        L47/93    Radio Hill            Fox Radio Hill Pty Ltd   100%     Live     8 Nov 2043
                        E47/5138  Whundo West           KML No 2 Pty Ltd                  Ballot   N/A
                        E47/4933  Hemi West             KML No 2 Pty Ltd         100%     Pending  N/A
                        E47/4884  Hemi West             KML No 2 Pty Ltd                  Ballot   N/A
                        E47/4887  Hemi West             KML No 2 Pty Ltd                  Ballot   N/A
 Cassowary Project      E69/4266  Cassowary Intrusion   KML No 2 Pty Ltd         100%     Live     10 Aug 2030
                        E69/4317  Cassowary South       KML No 2 Pty Ltd         100%     Pending  N/A
                        E69/4334  Cassowary East        KML No 2 Pty Ltd         100%     Pending  N/A
                        E69/4318  Cassowary West        KML No 2 Pty Ltd         100%     Pending  N/A
                        E69/4330  Southern Intrusions   KML No 2 Pty Ltd         100%     Pending  N/A
                        E69/3441  Sharon Dam Intrusion  Red Metal Ltd - earn in  0%       Live     10 Oct 2026
 Paterson Project       E45/5276  Central Paterson      Armada Mining Pty Ltd    100%     Live     13 Feb 2029

 

 

This announcement was approved for release by the Board

For further information:

 

 Artemis Resources Ltd                      info@artemisresources.com.au (mailto:info@artemisresources.com.au)
 Jozsef Patarica, Executive Director

                                              
 Zeus (Nomad and Broker)

 Antonio Bossi / James Bavister

                                            Tel:  + 44 20 3829 5000

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

  

 

Tel:  + 44 20 3829 5000

 

 

Competent/ Qualified Person Statement

 

The information in this report that relates to exploration results was
prepared by Mr Oliver Hirst M.Sci (Hons), a Competent Person who is a member
of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr Hirst is
a technical consultant to Artemis Resources. Mr Hirst 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
Hirst 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 and copper focused resources company
with a highly attractive suite of projects including projects in Western
Australia's underexplored North Pilbara Gold Province and at the Cassowary
Exploration Project located 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 Exploration Project - large IOCG type and
intrusion related 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-copper Mineral 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 four other exploration licence
applications to cover other interpreted intrusions within a 30-40km wide
interpreted rift zone.

 

 

 

 

 

 

 

 

 

Appendix - Carlow Resource

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDMZGZMRLZGVZM



            Copyright 2019 Regulatory News Service, all rights reserved