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
2 January 2025
Tranche One share issue completed
and funds received
KARRATHA GOLD PROJECT drilling TO
COMMENCE IN EARLY 2025
Highlights
§ Tranche One of the recently
announced oversubscribed placement of $4 million has been
completed, with $2.09 million received
§ Extraordinary General Meeting
(EGM) to be held to approve Tranche Two, with the majority of funds
already received and held in trust
§ Majority of funds to be used
for drilling targets beginning in early 2025
Artemis Resources Limited ("Artemis" or "the Company")
(ASX/AIM:ARV) is pleased to advise
that it has issued Tranche One shares from
the placement announced on 16 December 2024.
Artemis issued 287 million shares on
20 December 2024 being Tranche One of the recently announced
capital raise, with funds totalling $2.09 million having been
received. This raise, which was oversubscribed, provides a platform
for the exploration team to deliver on its Karratha Gold Project
drilling program.
The balance of the raise will be
completed once shareholder approval has been received at an EGM
which is scheduled to be held on or about 6 February 2025.
Additionally, shareholder approval will be sought at the EGM for
incoming director Julian Hanna to participate in the capital raise,
to the extent of $20,000, or approximately 2.85 million
shares.
Karratha Gold Project Drilling
Program
The proceeds of the capital raise
will be focussed on drilling at the Karratha Gold Project with a
number of priority targets having previously been
identified.
These targets (1. to 6. numbered in
Figure 1), include drilling the large Marillion electro-magnetic
(EM) anomaly, testing for potential high grade extensions to the
Carlow resource and initial drilling at the Titan gold prospect.
Additionally, and post review of results from the recently
completed Lulu Creek drilling program, the program may be expanded
for further exploration at Lulu Creek and surrounding
tenure.
Figure
1. Priority targets 1. To 6. at the
Karratha Gold Project
1. Carlow open pit resource - review possible
development options
2. Carlow underground resource - drill potential
for high grade extensions
3. Marillion - drill large, highly conductive
electro-magnetic (EM) anomaly
4. Europa - drill a 2.5km long geophysical and
structural target
5. Titan - drill test source of high-grade
gold/silver results at surface (subject to heritage
clearance)
6. Thorpe - follow up of high grade gold/copper
results at surface
7. Sing Six - drill test source of gold results in
veins at surface
8. Lulu Creek (west of Figure 1) - follow on from
previous drilling pending results.
Tranche
One
The Company has issued 287,000,000
ordinary shares (ASX:ARV) to professional and sophisticated
investors, under Tranche One of the capital raised on 16 December
2024, under ASX listing rule 7.1.
The issue of Tranche Two is subject
to shareholder approval at a general meeting to be held on or
around 6 February 2025. The notice of meeting will be lodged with
the ASX and forwarded to shareholders on or around 6 January
2025.
For more
information, please visit www.artemisresources.com.au
This announcement was approved for
release by the Board.
For further information
contact:
George Ventouras
Executive Director
info@artemisresources.com.au
ASX
announcements referred to in this release;
Artemis Resources, ASX Announcement,
Artemis Completes Placement to Raise $4m, 16 December
2024
Artemis Resources, ASX Announcement,
Artemis to commence drilling Lulu Creek gold prospect, 23 October
2024
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
only ~42km from the Telfer gold mine)
· Artemis also
owns the Radio Hill processing plant, located only 35km from
Karratha
Artemis is focused on discovering
multiple gold prospects within its +200km2 tenement
package that can build upon the initial Mineral Resource at Carlow.
The majority of the tenement package has been lightly explored and
is now the subject of methodical exploration programs with a view
to identify all gold zones, veins, structures and
faults.
The Company will also continue to
progress the Karratha Lithium project including the high-grade Mt
Marie prospect and will look to advance this exciting project
through further field work which will lead to drilling the most
advanced targets in due course.