Artemis Resources Secures $4M for High-Impact Drilling in the Pilbara

Artemis Resources (ASX: ARV) has closed the year with a flourish, securing a heavily oversubscribed $4 million capital raise to power its exploration efforts in the Pilbara. The placement, conducted at $0.007 per share, saw strong interest from institutional and sophisticated investors and represents a 27.6% discount to the 15-day volume-weighted average price (VWAP)​.

Drilling into the Details

The fresh injection of funds is earmarked for a targeted drilling program at the company’s flagship Karratha Gold Project, set to commence in early 2025. Artemis has outlined several high-priority targets across its extensive tenement package, including the Carlow, Marillion, Titan, and Thorpe prospects, each promising significant potential. Recent groundwork, including high-grade assays and advanced geophysical surveys, has bolstered the exploration case​​.

Executive Director George Ventouras hailed the raise as a testament to investor confidence:

“This important funding will allow us to aggressively pursue high-priority targets and deliver meaningful exploration results. We’re excited about the potential upside our underexplored tenements could yield.”

Key Prospects in Focus

• Carlow: Known for its high-grade gold and copper potential, the Carlow prospect will see drilling to expand its existing mineralisation footprint. Artemis is keen to explore extensions both at depth and laterally.
• Thorpe: Recent rock chip assays from Thorpe returned standout results, including 45.8 g/t gold and 10.3% copper. Artemis intends to follow up these surface samples with deeper drill tests to probe the potential of this underexplored area​.
• Marillion: This conductive EM anomaly, situated close to Carlow, represents another enticing target. Preliminary surveys suggest it could host a significant mineralised system.
• Titan: The prospect has yielded promising high-grade rock chip samples, with gold grades exceeding 10,000 g/t in surface veins, indicating a robust gold system​​.

A New Technical Direction

Artemis is also undergoing a strategic evolution with the appointment of Julian Hanna as Technical Director. Hanna, known for his transformative leadership at Western Areas and MOD Resources, is tasked with steering the company’s exploration efforts in 2025. His proven track record in discovering tier-one deposits is expected to significantly enhance Artemis's exploration strategy​.

Commenting on the appointment, Chairman Guy Robertson noted:

“Julian’s expertise aligns perfectly with our ambitions to make new discoveries and develop our existing resources. His insights into the Pilbara’s geology will be invaluable.”

Hanna added his enthusiasm, stating that Artemis’s portfolio, particularly in the Carlow area, presents immense potential for further high-grade discoveries.

Context and Catalysts

The Karratha Gold Project, located in a burgeoning gold and lithium province, offers a compelling mix of infrastructure access and geological promise. Proximity to key deposits like De Grey Mining’s Hemi Project, now subject to a ~$5 billion takeover by Northern Star Resources, underscores the potential of the region​.

Beyond gold, Artemis is also progressing its Karratha Lithium Project, which includes the Mt Marie Prospect and a joint venture with GreenTech Metals at Osborne​​.

The placement’s success indicates strong market confidence in Artemis’s vision and assets. With funds in hand and drilling imminent, 2025 could be a defining year for the company. For investors, the coming months will hinge on exploration results and the company’s ability to unlock value from its Pilbara portfolio.

While exploration inherently carries risk, the combination of seasoned leadership, strategic funding, and a highly prospective tenement package puts Artemis in a strong position to deliver results. As always, the market will be watching closely.