Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) has been covering a lot of ground at its wholly-owned Mt Marie prospect and partly-owned Osborne East lithium prospect in the Pilbara region of Western Australia.
The latest ground reconnaissance program has not only confirmed high-grade lithium assays but also extended the strike length of the prospects.
Mt Marie performs
The Mt Marie prospect has yielded impressive rock chip assays, with multiple results grading at greater than 4% lithium oxide (Li2O), including:
- 4.63% Li2O;
- 4.52% Li2O;
- 4.28% Li2O; and
- 3.63% Li2O.
This prospect is quickly becoming a priority target for the company, with plans for drilling as soon as heritage clearances are obtained.
Meanwhile, the Osborne East Prospect, a joint venture with Greentech Metals Ltd where Artemis holds a 49% stake, also showed favourable results with multiple rock chip assays returning greater than 0.5% Li2O.
The strike length of this prospect has been extended, with pegmatite zones now spanning an area of 500 metres by 350 metres, indicating substantial growth potential.
This busy period of exploration comes as the company has submitted and received approval for its program of works and is completing heritage clearance applications.
Additional plans to identify sub-surface pegmatites and further lithium mineralisation are being considered, which could enhance the overall potential of the Mt Marie and Osborne East prospects.
Regional position
In the broader regional context, the results place Artemis in a favourable position because of the prospects’ proximity to other significant lithium discoveries and the logistical advantages provided by the nearby town of Karratha.
Executive director George Ventouras said: “We are pleased with the results of the latest sample assays received from the lab which continue to point to a high-grade lithium mineralised system.
“The Mt Marie prospect is fast becoming a priority one target which will be ripe for drilling once heritage clearances are completed.
“Together with the Osborne East prospect, and many more kilometres of tenure unexplored for lithium, we are looking forward to continued work programs.”