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Colin Hay

Artemis Resources (ASX: ARV) has obtained high-grade assay results from its recent ground reconnaissance programme at its lithium prospects in the Pilbara region of Western Australia.

Executive director George Ventouras said the results continue to demonstrate the consistency, growing the strike length and grade of its Pilbara prospects.

“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,” Mr Ventouras said.

“Together with the Osborne East prospect, and many more kilometres of tenure unexplored for lithium, we are looking forward to continued work programmes.”

Mt Marie Lithium Prospect

Further ground reconnaissance was completed in late February and looked to expand on the previously received results where rock chip assays peaked at 4.67% Li2O at the Mt Marie Prospect. The ground crew revisited the Mt Marie prospect region in April and secured additional high-grade samples to confirm the mineralisation. These results have provided an even higher level of confidence in the grade and potential scale of Mt Marie.

The outcropping strike length of the Mt Marie prospect has now increased to more than 230m.

Additional programmes to identify sub-surface pegmatites and lithium mineralisation are currently being considered and will be put into place in the near future.

Osborne East Lithium Prospect

Osborne East was also the subject of additional sampling, resulting in another round of multiple rock chip assays returning greater than 0.5% Li2O.

As a result, the strike length of the Osborne East prospect has again been extended through this most recent program with multiple zones of pegmatite extending across an area of 500mx350m and which remains prospective for further growth.

Rock chip assay results

In total, 36 rock chip samples were collected from both the Mt Marie and Osborne East prospects and dispatched to the lab for multi-element analysis.

The rock chip assays delivered excellent results which include the following;

Mt Marie Prospect: 24AR04-07 – 4.63% Li2O; 24AR04-14 – 4.52% Li2O; 24AR04-13 – 4.28% Li2O; 24AR04-12 – 3.63% Li2O; and 24AR04-04 – 3.45% Li2O

Osborne East Prospect: 24AR04-20 – 0.69% Li2O; 24AR04-24 – 0.60% Li2O; 24AR04-25 – 0.59% Li20; and 24AR04-26 – 0.59% Li2O

Rock chip samples from the Mt Marie prospect were previously tested for mineralogy type at Curtin University and the analysis confirmed that the host mineral for the lithium is spodumene.

This level of Li2O result has again confirmed the high degree of grade in a regional context, reflected by Azure Minerals’ Andover project which recorded a peak rock chip assay result of 4.87% Li2O3 and have reported an exploration target of 100-240Mt @ 1.00-1.5% Li2O4,

The lithium bearing pegmatite at the Mt Marie prospect occurs along a mirrored or similar NE structural trend to pegmatites discovered by Azure Minerals only 20km to the east. Given the location of the Artemis tenements in relation to the Azure discovery and the proximity to Karratha and its logistical advantages, the potential pathway for the Mt Marie lithium prospect is becoming clearer and more compelling.

The pegmatite trends identified at the Osborne JV and greater area are part of a large and fertile system hence conducting this study will provide more efficiency in the drill targeting. The market will be updated when the review is complete and drilling is set to commence.

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