10 July 2024

 

Artemis Resources Limited

 

("Artemis" or the "Company")

 

Result of General Meeting

 

SOIL ASSAY RESULTS CONFIRM INCREASED LITHIUM MINERALISED ZONE AT OSBORNE JV PROJECT

LULU CREEK & MT MARIE HERITAGE CLEARANCES COMPLETED

_______________________________________________________________________________

Highlights

·    Osborne JV (ARV:49% - GRE:51%) pegmatite cluster defined by large lithium soil footprint with peak assays of 300 - 712ppm Li₂O

·    Heritage clearance at Mt Marie and Lulu Creek completed on time and budget

 

 

Artemis Resources Limited ('Artemis' or the 'Company') (ASX/AIM: ARV) is pleased to provide results from a recent soil sampling program which aimed to build upon previously identified and recorded rock chips at the Osborne JV project.

 

Executive Director George Ventouras commented: "These soil results continue to demonstrate the high-grade nature of the mineralisation across the Osborne South trends. As this is the area where we received high grade Li₂O assay results, it is especially pleasing that we continue to record high value results which could point to a large envelope of lithium resources.

Additionally, we are pleased that the heritage survey at Mt Marie and Lulu Creek has been completed on time and budget and we are looking forward to receiving the written report which will open the pathway towards drilling at both prospects."

 

 

Figure 1. Artemis Resources and neighbouring west Pilbara tenements

 

Follow up Soil Program

The follow-up in-fill soil program comprised a total 916 samples and was focused on the southern portion of the Osborne JV tenement. Regional exploration to date has highlighted the effectiveness of soil sampling in identifying both poorly exposed and non-outcropping lithium pegmatites. Recent examples include TG Metals where high level of Li₂O in soils has pointed to lithium bearing pegmatites subsurface upon drilling.

 Figure 2: Osborne Lithium Pegmatite and Soil trends

 

The Osborne pegmatite zone is defined by a large associated anomalous lithium soil footprint which has a strike of ~4km and a width of up to 1.3km. The anomalous footprint eclipses the size of the observed pegmatite outcrop and indicates there is potentially more to be discovered at Osborne. The soils report a peak assay of 712ppm Li₂O and with numerous Li₂O assays greater than 300ppm. This in-fill sampling was undertaken on a 50m x 200m sampling grid.

What is interesting to note is that the peak soil assays are not aligned with the mapped outcropping pegmatite occurrences (figure 4) and appears not to be related to topographical effects which may suggest increased mineralisation from that previously considered present.

Figure 3: Osborne Lithium Soil Footprint

Figure 4: Lithium Soil Footprint Associated with Osborne Pegmatite Cluster

 

Heritage Clearance

As previously reported on 2 July 2024, a heritage clearance survey was scheduled and has since been completed. This survey covered prospective drilling areas at both the Mt Marie lithium prospect and the Lulu Creek gold prospect.

Figure 5: Mt Marie Lithium Prospect

 

The Mt Marie lithium prospect is one of high-grade with rock chip results taken previously peaking at 4.67% Li₂O with multiple additional results above 4% Li₂O.

 

Figure 6: Mt Marie Lithium Prospect with latest rock chip results

 

 

 

 

At Lulu Creek, previous drilling to shallow depths returned 1m @ 4.89 g/t Au and 13.7 g/t Ag from 24m and 1m @ 1.15 g/t Au from 9m. The Lulu Creek project is also a beneficiary to a co-funded drilling grant from the government.

 

Figure 7: Lulu Creek Gold Prospect in the north west of the tenement with all other Company gold prospects across the West Pilbara

 

Next steps

With the receipt of this information and confirmation of the mineralised areas, the Company considers that the lithium soil trends are now sufficiently defined to allow initial drill testing of the higher-grade zones aimed at identifying associated pegmatite bodies. While some lithium soil trends have been partially cleared by previous heritage surveys, additional surveys will be planned to ensure all targeted areas are covered.

The Company will also begin discussions with appropriate drilling companies in preparation for drilling at both the Lulu Creek and Mt Marie prospects.

This announcement was approved for release by the Board.

For Further information contact:

Artemis Resources Ltd
Guy Robertson, Chairman George Ventouras, Executive Director	[email protected]
WH Ireland Limited (Nomad & Broker)
Antonio Bossi / James Bavister / Isaac Hooper	Tel:  +44 20 7220 1666

 

[email protected]

About Artemis Resources

Artemis Resources (ASX/AIM: ARV; FRA: ATY; US: ARTTF) is a gold, copper and lithium focused resources company with projects in Western Australia. The Mt Marie Lithium Prospect, the Osborne Lithium JV (Artemis 49%; GreenTech Metals (ASX:GRE) 51%) and the Carlow Castle gold-copper-cobalt project in the West Pilbara; and the Paterson Central Gold/Copper project in the Paterson Province (located adjacent to Greatland Gold / Newmont's recent gold-copper discovery at Havieron and only ~42km from the Newmont Telfer gold mine).

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

 

Competent Person Statement

Adrian Hell, BSc (Hons), an advisor and consultant to the Company, is a Member of the AUSIMM, and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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'. Adrian Hell consents to the inclusion in the report of the 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.

 

 

ASX announcements referred to in this release;

Greentech Metals Ltd, 5 September 2023

Artemis Resources Ltd, 18 September 2020

TG Metals Ltd, 4 October 2022