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PERTH - Artemis Resources Limited (ASX/AIM:ARV) has completed the first phase of drilling at its Karratha Gold Project, revealing high-grade gold intersections and new geological insights. The company’s exploration update, based on a press release, indicates significant findings at the Marillion and Titan prospects, which may extend the potential of the existing Carlow gold/copper deposit.
During the quarter ending March 31, 2025, Artemis drilled five diamond holes totaling 1,790 meters, targeting the Marillion, Carlow East, and Titan areas. Notably, the Marillion Prospect yielded 7 meters at 2.9 grams per tonne (g/t) gold, including 1 meter at 15.3 g/t gold from a depth of 404 meters. This intersection suggests the Carlow high-grade lodes could extend up to 600 meters east of previous drilling, making this gap a priority for future exploration.
The drilling at Titan intersected elevated gold values from 0.2g/t to 0.5g/t Au, with one notable intersection of 1 meter at 16.4 g/t gold from 67 meters. These results have led to a new interpretation of the local geology, indicating broader potential for mineralization.
Artemis has also undertaken a review of over 400 historic drill holes from the Carlow Mineral Resource estimate, which contains 374,000 ounces (koz) of gold and 66,000 tonnes of copper. The review highlighted 192 high-grade gold assays and 515 high-grade copper assays, suggesting further exploration potential.
Additionally, the company announced a joint venture with GreenTech Metals to form Andover Lithium Pty Ltd, consolidating lithium rights and creating the largest lithium exploration area in the West Pilbara. This strategic move aims to attract major funding partners for lithium exploration.
Corporate developments include the appointment of Julian Hanna as Managing Director and Bruce Garlick as a Director. The company also completed the second tranche of a capital raise, issuing new shares at $0.007 per share, and reported exploration expenditure of $901,000 for the quarter.
The company’s exploration activities and corporate developments, particularly the high-grade gold intersections and the formation of the lithium joint venture, are based on a press release statement and reflect Artemis Resources’ ongoing efforts to expand its resource base in Western Australia.
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