Funding Secured, But Can Artemis Deliver on High-Grade Targets Amid Exploration Risks?

Funding Boost for Exploration Ambitions

Artemis Resources Limited has successfully completed a $4.75 million placement to institutional and sophisticated investors, underpinning its upcoming exploration and drilling programs across three key projects in Western Australia. This capital injection, announced post-quarter end, reflects strong support from both new and existing shareholders in Australia and the UK, providing the financial foundation for Artemis to advance its gold, copper, and lithium ambitions.

Carlow Project – Unlocking High-Grade Potential

At the heart of Artemis’ strategy is the Carlow gold and copper project, where a comprehensive review of over 400 historic drill holes has highlighted promising high-grade zones. The existing mineral resource includes 374,000 ounces of gold and 66,000 tonnes of copper, but Artemis aims to extend these boundaries significantly. Planned drilling will target a 600-metre gap along strike and deeper zones below the current resource, with the goal of delineating new lodes. Parallel early development studies, including mining and metallurgical assessments, are also underway to prepare for potential future production.

Titan Prospect – New Targets Emerge

Just 2-3 kilometres west of Carlow, the Titan prospect has emerged as a compelling exploration target following detailed geological mapping and data compilation. Despite limited prior drilling, selective surface sampling has returned exceptionally high gold grades, including assays up to 51.8 grams per tonne. Artemis plans to commence shallow reverse circulation drilling to test four gravity anomalies identified within a structurally complex thrust zone. These efforts aim to validate surface indications and explore the potential for significant gold mineralization beneath transported cover.

Cassowary Project – A Rare IOCG Opportunity

The Cassowary project represents a strategic entry into iron-oxide-copper-gold (IOCG) exploration, with Artemis holding applications over a 538 square kilometre area featuring a large, undrilled magnetic intrusion. Progress towards tenement grant approvals and heritage surveys is advancing, setting the stage for gravity surveys and eventual drilling. The project's geological setting and proximity to other IOCG targets lend credibility to its potential, positioning Artemis to capitalize on a rare exploration opportunity in a highly prospective region.

Lithium Consolidation – Andover Lithium Joint Venture

In a strategic move to strengthen its lithium portfolio, Artemis has partnered with GreenTech Metals to form Andover Lithium Pty Ltd, a 50 – 50 joint venture consolidating lithium mineral rights near Karratha in the West Pilbara. This joint venture creates the largest lithium exploration holding in the region, encompassing over 420 square kilometres along a corridor that hosts significant spodumene-bearing pegmatites. The consolidation aims to attract major funding partners and accelerate exploration efforts alongside Artemis’ core gold and copper activities.

Financial Position and Outlook

During the quarter, Artemis invested $665,000 in exploration activities and maintained disciplined corporate spending. The company ended the period with $1.15 million in cash and has secured additional funding to support its exploration programs. With drilling scheduled to commence in the first quarter of fiscal 2026, Artemis is well-positioned to deliver meaningful progress across its portfolio, potentially reshaping its resource base and unlocking value for shareholders.