RCS - Artemis Resources Ld - Commencement of Pilbara Drilling

Artemis ResourcesAnnouncement

10/02/2025 07:15

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RNS Number : 4962W  Artemis Resources Limited  10 February 2025

10 February 2025

 

This is a Reach (i.e. non-regulatory) announcement and the information
contained is not considered to be material or to have a significant impact on
management's expectations of the Company's performance.

 

PILBARA GOLD DRILLING commences

_______________________________________________________________________________

 

Highlights:

·    A substantial Diamond and Reverse Circulation ("RC") drilling program
has commenced to test several gold targets within a 4km long zone centred
around the Company's 374Koz inferred gold Carlow Mineral Resource 1  (#_ftn1)

 

·    Diamond drilling is targeting the source of the large Marillion
electro-magnetic ("EM") conductor located 500m east of the Carlow resource and
will also test the potential for significant extensions to the Carlow resource
down plunge from previous high-grade gold intersections

 

·    Shallow RC drilling will then be carried out across the Titan
Prospect(2) 2km NW of Carlow as an initial test of surface gold occurrences in
an area of interpreted structural complexity considered favourable for gold
mineralisation

 

·    There is no previous drilling of any of the three targets planned to
be tested in the first phase of drilling, despite proximity to the Carlow
deposit

 

Figure 1. Diamond drill rig set up on the first hole at Carlow. Drilling
24hrs/day

Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is
pleased to announce commencement of a substantial diamond and RC drilling
program to test high priority gold exploration targets on the 100% owned
Carlow Tenement within the Company's extensive holdings in the North Pilbara
gold province. Refer to Figure 2.

 

Commenting on the commencement of drilling, Managing Director Julian Hanna
said:

 "We are thrilled to announce the start of this diamond and RC drilling
program which will test three high-potential targets within a 4km long zone
centred on our Carlow Mineral Resource.  The current inferred Mineral
Resource(1) at Carlow contains 374,000oz gold and 64,000t copper and remains
open beyond previous drilling.

 

Diamond drilling will focus on the large Marillion EM conductor, located 500m
east of the Carlow resource and test for possible extensions to the Carlow
resource, targeting areas down plunge from previous high-grade gold and copper
intersections.

 

Additionally, we will use RC drilling to explore the Titan Prospect, 2km
northwest of Carlow, where high-grade gold occurrences(2) from selected
sampling of quartz veins and chert outcrops offer exciting potential. We are
excited about the opportunity this drilling presents to expand the Carlow
resource and uncover further opportunities across our portfolio and look
forward to updating the market on progress."

 

Figure 2. Artemis tenements in Pilbara region of Western Australia with Carlow
Tenement hatched

 

For further information relating to priority drill targets and other
activities planned in the March Quarter, please refer to Artemis ASX
announcement on 28 January 2025.

 

This announcement was approved for release by the Board. For further
information contact Julian Hanna / Managing Director
info@artemisresources.com.au (mailto:info@artemisresources.com.au)

 
Competent Person Statement

The information in this report that relates to Exploration Results was
prepared/compiled by Mr Adrian Hell BSc (Hons), a Competent Person who is a
member of the Australasian Institute of Mining and Metallurgy (MAusIMM). Mr
Hell is a technical consultant to Artemis Resources Ltd. Mr Hell 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
Hell 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 and Mineral Resource Estimates for the Carlow Gold/Copper Project
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 projects in the West Pilbara region of Western
Australia. The Company's main projects include;

·     Karratha Gold Project including the Carlow Castle gold/copper
project

·     Karratha Lithium Project including the high-grade Mt Marie Lithium
Prospect and the Osborne Lithium JV (Artemis 49%; GreenTech Metals (ASX:GRE
51%)

·     Paterson Central Gold/Copper project in the Paterson Province
(located adjacent to Greatland Gold's gold-copper discovery at Havieron and
42km from the Telfer gold mine)

·   Artemis also owns the Radio Hill processing plant, located only 35km
from Karratha

 1  (#_ftnref1) Refer to Artemis announcement on 13 October 2022

(2) Refer to Artemis announcement on 28 January 2025

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