REG - Artemis Resources Ld - Quarterly Activities Report

Artemis ResourcesAnnouncement

30/04/2024 07:15

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RNS Number : 5645M  Artemis Resources Limited  30 April 2024

Artemis Resources Limited

 

("Artemis" or the "Company")

 

Quarterly Activities Report

For the period ending 31 March 2024

Highlights:

Osborne Joint Venture (ARV 49%, GRE 51%)

·    Outcrop Sampling confirms significant mineralisation in western
extension of Osborne

·    Rock chip samples taken at the southern trend with assays reporting;

o  2.36% Li(2)O, 32ppm Ta(2)O5 and 92 ppm Nb(2)O(5) (sample 23GT24-021)

o  1.64% Li(2)O, 3ppm Ta(2)O5 and 14 ppm Nb(2)O(5) (sample 23GT24-033)

o  1.22% Li(2)O, 45ppm Ta(2)O5 and 76 ppm Nb(2)O(5) (sample 23GT20-693)

o  1.15% Li(2)O, 38ppm Ta(2)O5 and 102 ppm Nb(2)O(5) (sample 23GT24-026)

Karratha Lithium Project (ARV 100%)

·      Ground reconnaissance program commenced and rock chip samples
taken on 100% Artemis tenement E47/1746.

·      Pegmatites identified and sampled returned high grade Li(2)O
results peaking at 4.67%.

·      Further ground activities over tenements E47/1746 and E47/1797
completed.

·      Significant results included;

o  24AR01-14 - 4.67% Li(2)O

o  24AR01-15 - 2.11% Li(2)O

o  24AR01-02 - 1.74% Li(2)O

o  24AR01-06 - 1.68% Li(2)O

o  24AR01-11 - 1.46% Li(2)O

o  23AR01-17 - 1.82% Li(2)O

o  23AR01-16 - 1.62% Li(2)O

o  23AR01-15 - 0.78% Li(2)O

Karratha Gold Precinct

·    Programs of works's submitted and approved for Lulu Creek prospect

·    Heritage clearance application submitted

·    Project review confirms multiple prospects for follow up exploration

Corporate

·    Appointment of director Elizabeth Henson, subsequent to quarter end

·    Listing of options ARVOC with exercise price $0.025, expiring 9 March
2026

 

 

 

Figure 1. Artemis Resources Lithium Project and Osborne JV Location Map

 

Osborne Joint Venture (Artemis 49% GreenTech 51%)

Further ground reconnaissance was undertaken on the Osborne JV tenement and
several rock chip samples returned high results. These included:

o  2.36% Li(2)O, 32ppm Ta(2)O5 and 92 ppm Nb(2)O(5) (sample 23GT24-021)

o  1.64% Li(2)O, 3ppm Ta(2)O5 and 14 ppm Nb(2)O(5) (sample 23GT24-033)

o  1.22% Li(2)O, 45ppm Ta(2)O5 and 76 ppm Nb(2)O(5) (sample 23GT20-693)

o  1.15% Li(2)O, 38ppm Ta(2)O5 and 102 ppm Nb(2)O(5) (sample 23GT24-026)

 

The program was aimed at gathering stratigraphic and structural information
relating to these pegmatite trends which will be used to refine a follow-up
Reverse Circulation (RC)drill program. Ground work and in-fill sampling
extended the western extension of the southern trend. These results extend the
Osborne mineralisation 600 metres further west for a total strike length of
700 metres which remains open to further extension.

 

Figure 2. Historic Soil Geochemistry and recently Mapped Pegmatite Swarms
highlighting Northern & Southern Pegmatite Trends

 

Figure 3. Southern Trend significant rock chip results

Figure 4. Kobe Trend Drill Hole and rock chip locations

 

These results provide compelling evidence that the lithium mineralisation on
the Osborne JV tenement is consistently high grade and provides the Company
with confidence for the next phase of exploration activity.

 

Artemis 100% Lithium Project

To date, exploration has been focused on the central portion of exploration
licence E47/1746 (Silica Hills tenement) where historic soils highlighted
elevated lithium and associated pathfinder elements around the margins of the
Andover mafic intrusive.

Figure 5. Pegmatite evaluation area previously identified

 

Some ground work commenced late in 2023 with a small amount of rock chip
samples taken and submitted to the lab for assay. This work was followed up in
early 2024 by further rock chip sampling with high levels of results received
including:

o  24AR01-14 - 4.67% Li(2)O

o  24AR01-15 - 2.11% Li(2)O

o  24AR01-02 - 1.74% Li(2)O

o  24AR01-06 - 1.68% Li(2)O

o  24AR01-11 - 1.46% Li(2)O

o  23AR01-17 - 1.82% Li(2)O

o  23AR01-16 - 1.62% Li(2)O

o  23AR01-15 - 0.78% Li(2)O

 

The Mt Marie lithium prospect shows signs of high grade lithium and course
grained spodumene crystals which provides a solid platform for further
discoveries on the tenement.

Exploration at the Osborne East prospect also displayed encouraging results
with several rock chip assay results reporting greater than 0.50% Li(2)O.
Significant results included:

§ 24AR01-021 - 0.65% Li(2)O

§ 24AR01-027 - 0.60% Li(2)O

§ 24AR01-036 - 0.59% Li(2)O

§ 24AR01-035 - 0.57% Li(2)O

Rock chip samples from the Mt Marie prospect were previously tested for
mineralogy type at Curtin University and the analysis confirmed that the host
mineral for the lithium is spodumene.

Figure 6. Rock chip sample locations at the Mt Marie and Osborne East Lithium
Prospects

The lithium bearing pegmatite at the Mt Marie prospect occurs along a mirrored
or similar NE structural trend to pegmatites discovered by Azure Minerals only
20km to the east. Given the location of the Artemis tenements in relation to
the Azure discovery and the proximity to Karratha and its logistical
advantages, the potential pathway for the Mt Marie lithium prospect is
becoming clearer and more compelling.

 

Karratha Gold Project (ARV 100%)

Lulu Creek Induced Polarisation (IP) - Gold Target

An Exploration Incentive Scheme (EIS) grant was received to assist with
drilling RC holes at the Lulu Creek gold project. Through a previously
conducted high-resolution dipole - dipole IP geophysics survey, three
anomalies were identified that may represent disseminated sulphides. Programs
of works have been approved and a heritage clearance application submitted in
preparation for drilling.

Figure 6. Lulu Creek anomalies identified through IP Survey.

 

Carlow, Silica Hills and Osborne Tenements

The Company has also reviewed historical data relating to gold exploration and
has uncovered several potential prospects worthy of follow up work.

 

Figure 7. Artemis tenement package in the West Pilbara with prospects
identified.

 

Paterson Central Project

No Activities completed during the quarter.

 

The Company spent $419,000 on exploration during the quarter which focused on
lithium fieldwork and assays.

 

The Company paid directors $104,000 during the quarter for salaries,
superannuation and consulting fees.

 

Corporate

Mr Christopher Kelsall resigned as a director during the quarter and Ms
Elizabeth Henson was appointed a director subsequent to quarter end.

The Company listed 165,888,884 options (ASX:ARVOC) with exercise price $0.025
and expiry date 9 March 2026.

This report was approved for release by the Board.

 

For further information contact:

 Artemis Resources Ltd
 Guy Robertson, Chairman                        info@artemisresources.com.au

 George Ventouras, Executive Director

 WH Ireland Limited (Nomad & Broker)
 Antonio Bossi / James Bavister / Isaac Hooper   Tel:  +44 20 7220 1666

 

About Artemis Resources

Artemis Resources Limited (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a gold,
copper and lithium focused resources company with three major projects in
Western Australia. The Greater Carlow Castle gold-copper-cobalt project in the
West Pilbara; the Paterson Central Gold/Copper project in the Paterson
Province (located adjacent to Greatland Gold / Newcrest's recent gold-copper
discovery at Havieron; and the West Pilbara Lithium project (consisting of the
100% owned Karratha Lithium project and the Osborne JV (Artemis 49%; GreenTech
Metals (ASX:GRE) 51%).

Artemis also owns the Radio Hill processing plant, the only processing plant
in the West Pilbara region, 35km from Karratha.

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

 

 

Competent Person's Statement

The information in this report that relates to Artemis Resources Ltd
exploration results was prepared by Mr Oliver Hirst, 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.

 

Information Relating to Previous Disclosures

23/08/2023     IP Survey Identifies New Gold Targets at Lulu Creek

13/11/2023     Lulu Creek Awarded Exploration Incentive Scheme Funding

18/01/2024     Lithium Exploration Update - Rock Chip and Soil Sampling

05/02/2024     Significant New Lithium Pegmatite Discovery

06/03/2024     Excellent Lithium Rock Chip Assays - New Zone Identified

 

 

Appendix 1

Schedule of tenements holdings at end of Q2

 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  Osborne           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        Elysian Resources Pty Ltd  100%     Live
 L47/93    Radio Hill        Fox Radio Hill Pty Ltd     100%     Live
 E45/5276  Central Paterson  Armada Mining Pty Ltd      100%     Live

 

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