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Artemis Resources Limited (ASX:ARV)

ALERT: Price-sensitive ASX Announcement for ARV
Current share price for ARV : $0.004 -0.004 (-50%)+
Announcement
Release
22 Dec 2025 9:50AM
Price at Release
$0.008
Full Release
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Summary
Artemis Resources Limited has entered into a strategic earn-in and joint venture agreement with Red Metal Limited to explore the Sharon Dam IOCG target located approximately 50km south of the Cassowary Intrusion in Western Australia's Madura Province. Artemis can earn a 60% interest in the Sharon Dam project by spending $5 million over three years, including an initial $400k commitment for drilling, supported by a $220k government EIS co-funding grant. This agreement enhances Artemis' footprint in the Madura Copper Exploration Belt, aiming to explore the underexplored Madura Crustal Boundary, which is a frontier for IOCG copper and other related deposits. The project is anticipated to commence drilling in March–April 2026, subject to heritage clearance. The partnership with Red Metal aligns with Artemis's strategy to expand its presence in high-leverage copper frontiers and further consolidate its position in the region.
Key Points
  • Artemis enters joint venture with Red Metal for Sharon Dam IOCG target.
  • Artemis can earn 60% interest by spending $5 million over three years.
  • Initial $400k drilling commitment with $220k government grant.
  • Sharon Dam located 50km south of Cassowary Intrusion.
  • Project strengthens Artemis' position in Madura Copper Exploration Belt.
  • Drilling targeted for March–April 2026, pending heritage clearance.
  • Madura Crustal Boundary is a key underexplored region for IOCG deposits.
  • Strategic expansion of Artemis into high-leverage copper frontiers.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.