REG - Artemis Resources Ld - Carlow Update

Artemis ResourcesAnnouncement

17/11/2025 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:20251117:nRSQ6920Ha&default-theme=true

RNS Number : 6920H  Artemis Resources Limited  17 November 2025

 

17 November 2025

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulation ("MAR")
(EU) No. 596/2014, as incorporated into UK law by the European Union
(Withdrawal) Act 2018. Upon the publication of this announcement, this inside
information is now considered to be in the public domain.

 

 

Artemis Resources Limited

 

("Artemis" or "The Company")

 

Carlow Update

 

Mining Study Underway at Carlow Gold and Copper Project

Carlow Extensional Drilling to Commence in December

Study to assess development scenarios in parallel with high-grade extensional
drilling

 

 Highlights

·      Gold prices have increased by approximately 250% since the
October 2022 Mineral Resource (US$1,640/oz) 1  (#_ftn1) with copper also up
approximately 30%

·      Conceptual mining study at Carlow being undertaken by
Snowden-Optiro including open pit and underground optimisations

·      Study outputs to guide extensional drilling, resource growth,
metallurgy and early-stage development thinking

·      Extensional drilling at Carlow due to commence in December 2025,
initially to follow up an earlier intersection of 7m at 2.9g/t Au 600m east of
the resource envelope 2  (#_ftn2)

·      Recent high-grade intersection at Titan East (5m at 13.1g/t Au
from 132m 3  (#_ftn3) ) confirms excellent potential of satellite targets near
Carlow.  Follow-up drilling starting next week

Artemis Resources Limited (ASX/AIM: ARV) ("Artemis" or "the Company") is
pleased to advise that independent mining consultant Snowden-Optrio is
undertaking a conceptual mining study based on the Mineral Resource announced
on 13 October 2022(1) which totals 374koz Au, 64kt Cu and 8kt Co.  The study
aims to unlock development optionality at Carlow at a time of materially
stronger gold and copper prices. The planned outcomes will also help guide the
extensional drilling program in the immediate area of the resource and provide
drill core samples for metallurgical testwork.

Extensional drilling will commence in December 2025, initially to follow-up a
very encouraging gold intersection 600m east of the resource (7m at 2.9g/t Au
in 25ARDD001 from 404m)(2) then scope out potential for high-grade gold
extensions in the Upper Zone (Refer Figure 1).  Drilling is then planned to
test the potential of the Lower Zone underlying the Carlow resource, where a
historic drill hole intersected 4m @ 11g/t Au and 2.0% Cu in hole 20CCDD003
from 639m downhole.  This high-grade intersection below the resource has
never been followed up.

The Snowden-Optrio conceptual mining study will also evaluate potential
development options for the existing resource at Carlow to help inform the
extensional drilling program commencing in December and current drilling of
satellite gold targets near Carlow.  The potential of the satellite targets
is demonstrated by recent drilling at Titan East which produced a very high-

 

grade gold intersection (5m at 13.1g/t Au in 25ARRC006 from 132m) 4  (#_ftn4)
- only 1.5km from Carlow.  Final assay results are still awaited from recent
RC drilling program at Titan.

Jozsef Patarica, Executive Director, commented:

"The conceptual mining study is an important next step in advancing the Carlow
project.  We are very focused on unlocking the full potential of the Carlow
project area given the very high-grade intercept at Titan East along with the
increase in gold price.  The mining study is part of multi-pronged approach
with follow-up drilling at Titan due to start next week and extension drilling
east of Carlow due to start in early December. Importantly, this work helps
position Carlow for future development decisions, with higher gold and copper
prices significantly improving project optionality and potential value
creation for shareholders."

 

Upcoming Milestones

·      Next Week: Follow-up RC drilling at Titan East

·      November-December 2025: Mining study in progress

·      December 2025: Commence extensional drilling east of Carlow

·      Q1 2026: Commence extensional drilling below Carlow

·      Q1 2026: Integration of drilling results into Carlow resource
analysis

(All subject to operational conditions and regulatory requirements)

 

Figure 1: Schematic long section extending from Titan (west) to Carlow (east)
showing an outline of the current Carlow resource announced on 13 October
2022, high grade gold intersections spread along 2.7km and proposed drilling
targets in the Upper and Lower Zones along strike and below the Carlow
resource.

 

This announcement was approved for release by the Board

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

 Julian Hanna, Managing Director

 Zeus (Nomad & Broker)

 Antonio Bossi / James Bavister /            Tel:  +44 20 3829 5000

 Gabriella Zwarts

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

 

 

 

 

Tel:  +44 20 3829 5000

 

 

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
Technical 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
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 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 applied for four other
exploration licences to cover other interpreted intrusions within a 30-40km
wide interpreted rift zone

 

 

 1  (#_ftnref1) ARV Announcement 13 October 2022.  Summary table included in
current announcement

 2  (#_ftnref2) ARV Announcement 28 April 2025

 3  (#_ftnref3) ARV Announcement 29 October 2025

 4  (#_ftnref4) ARV Announcement 29 October 2025

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  DRLFLFILLVLELIE



            Copyright 2019 Regulatory News Service, all rights reserved