Artemis Resources Ltd (ASX:ARV, AIM:ARV, OTCQB:ARTTF) has followed up a round of rock chip sampling with a soil reconnaissance program at the Osborne joint venture (JV) project in Western Australia.
The soil results point to the potential for a large envelope of lithium resources across the Osborne South trends on the tenure, with a strike of about 4 kilometres and a width of up to 1.3 kilometres.
The company registered peak lithium-in-soil results of 712 parts per million (ppm) lithium oxide (Li2O), with multiple results of greater than 300 ppm.
Artemis is exploring Osborne in a JV (49% ARV:51% GRE) with Greentech Metals Ltd, another ASX-listed lithium explorer with neighbouring tenements.
Meanwhile, heritage clearance at the Mt Marie lithium and Lulu Creek gold prospects has been completed on time and budget.
Growing lithium prospectivity
“These soil results continue to demonstrate the high-grade nature of the mineralisation across the Osborne South trends,” Artemis Resources executive director George Ventouras said.
“As this is the area where we received high-grade Li2O assay results, it is especially pleasing that we continue to record high-value results which could point to a large envelope of lithium resources.
“Additionally, we are pleased that the heritage survey at Mt Marie and Lulu Creek has been completed on time and budget and we are looking forward to receiving the written report which will open the pathway towards drilling at both prospects.”
Osborne surveys
Artemis will now organise heritage surveys over drill targets at Osborne while beginning discussions with drilling companies to complete exploration programs at the Lulu Creek and Mt Marie prospects.
Mt Marie previously returned rock chip samples of up to 4.67% lithium, while Lulu Creek generated shallow drilling intercepts of 1 metre at 4.89 g/t gold and 12.7 g/t silver from 24 metres and 1 metre at 1.15 g/t gold from 9 metres.
Lulu Creek is also the subject of a co-funding drilling grant from the government, reducing the cost of exploration at the prospect.