Artemis Resources Ltd said it has begun drilling at its Osborne joint venture with GreenTech Metals Ltd.
The Gold and copper-focused exploration company with two major projects in Western Australia said drilling at Osborne, which is located in the West Pilbara region of Western Australia, will test the stratigraphy and structure of 1,500 metres in order to plan for future detailed drilling.
Osborne is 49%-owned by Artemis, with GreenTech holding the majority share.
The firm noted that the drilling will target LCT pegmatites in the ‘southern’ zone of the project, which has previously returned assays of up to 3.52% lithium oxide.
During the drilling programme, Artemis said, crews will also undertake mapping, rock chip and soil sampling, and drill target identification work.
GreenTech Executive Director Thomas Redcliffe said: ‘We are excited to commence our maiden drilling at Osborne designed to gather valuable stratigraphic and structural information relating to the subsurface characteristics of the pegmatite zone. The data from this drilling will aid in refining the more detailed follow-up drill programme once the results from recently completed broader heritage clearances are received.’
Separately, Artemis said its shares have been halted on the Australian Securities Exchange as it undertakes a capital raising book build.
It said the funds are being raises in order to fund further exploration work across its various projects.
Shares will be readmitted to trading by November 8, it said.
Artemis Resources shares fell 21% to 1.10 pence each on Monday morning in London. In Sydney, Artemis shares last traded at A$0.027 each.
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