Shares in Artemis Resources Ltd climbed on Monday morning after the exploration company announced lithium pegmatites have been identified on its Osborne joint venture.

Artemis Resources is a gold and copper-focused exploration company with two major projects in Western Australia. Shares in the firm were up 8.0% at 1.08 pence on Monday morning in London.

Artemis said lithium pegmatites have been identified on the Osborne joint venture, in which it holds a 49% stake. GreenTech Metals Ltd holds the remaining balance of the joint venture. Artemis holds a 9.7% interest in GreenTech Metals.

The company said high tenor lithium assays were received within the project area, including 1.8% lithium oxide from sample 23GT11-041 and 1.7% lithium oxide from sample 23GT11-042.

Artemis said further work is planned on the joint venture and preparations have began to enable a maiden drilling programme as soon as all approvals are received.

The company added that it has also commenced a review and assessment of the lithium prospectivity in its 100% owned tenure at the West Pilbara exploration.

Separately, Artemis announced that Southern Geoscience Consultants have commenced a high-resolution dipole-dipole induced polarisation survey over the prospective Lulu Creek diorite intrusion.

‘The aim of the survey is to provide vertical resolution in defining chargeability anomalies that may represent disseminated sulphides within and around the Lulu Creek diorite. Defined chargeability anomalies will then be used for exploration drill targeting of sulphide mineralisation which is believed to host gold mineralisation in conjunction with quartz veins,’ the company explained.

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