Gold prices steady ahead of Fed decision; weekly weakness noted
PERTH - Artemis Resources Limited (ASX/AIM:ARV) has secured A$4.75 million in funding to advance exploration at three core gold and copper projects, the company announced in its quarterly activities report.
The placement, which closed on July 21, was oversubscribed and supported by both new and existing investors in Australia and the United Kingdom (TADAWUL:4280). The funds will finance drilling programs scheduled to begin in August at the company’s Carlow, Titan, and Cassowary projects.
At Carlow, Artemis completed a review of over 400 historic drill holes that formed the basis of the 2022 Mineral Resource estimate containing 374,000 ounces of gold and 66,000 tonnes of copper. The company plans extension drilling to test potential high-grade gold and copper lodes beyond current drilling limits.
The Titan project, located 2-3 kilometers west of Carlow, will see shallow reverse circulation drilling across areas with transported cover. A gravity survey completed in June identified four discrete anomalies within the structurally complex Regal Thrust zone. Previous selective sampling of outcrops at Titan returned gold values up to 51.8 g/t.
For the Cassowary project, Artemis is progressing toward having tenements granted to enable drilling of the large Cassowary Intrusion, which the company describes as a target for potential Iron Oxide Copper Gold (IOCG) type mineralization. The project covers 538 square kilometers, with negotiations for an access agreement underway.
The company also reported progress on its Pilbara Lithium Joint Venture with GreenTech Metals (ASX:GRE). The 50/50 joint venture, called Andover Lithium Pty Ltd, consolidates lithium mineral rights across more than 420 square kilometers in the West Pilbara region.
The information was disclosed in a quarterly activities report for the period ending June 30, 2025.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.