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
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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]
· 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 Prospect2 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 Resource1 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 occurrences2 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
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] Refer to Artemis announcement on 13 October 2022
2 Refer to Artemis announcement on 28 January 2025
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