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Artemis Resources Limited (‘Artemis’ or the ‘Company’) (ASX/AIM: ARV) is pleased to provide an outline of a substantial drilling program planned to test high priority gold exploration targets on the 100% owned Carlow Tenement within the Company’s extensive holdings in the North Pilbara gold province of Western Australia.
A diamond and Reverse Circulation (“RC”) drilling program is expected to commence in early February to test several compelling targets within a 4km long northwest trending zone centred around the Company’s 704Koz AuEq Carlow Mineral Resource1 which includes 374Koz gold, 64,000t copper and remains open. Despite proximity to Carlow, the targets planned to be drilled during the March Quarter are previously untested.
Summary of Planned Activities – March Quarter 2025
- The first hole will test the large Marillion Electro-magnetic (“EM”) conductor 500m east of the Carlow resource, near the base of the Andover Intrusion
- Diamond drilling will then test the potential for significant extensions to the Carlow resource, down plunge from previous high-grade gold intersections
- RC drilling is then planned across the Titan Prospect 2km northwest of Carlow, as an initial test of widespread high-grade gold occurrences at surface
- Recent assays from outcrops of chert and quartz/ironstone veins at Titan include 51.8g/t Au and 41.4g/t Au, in line with results announced during 2024
- Surface gold occurrences at Titan may be associated with a large gravity-low feature surrounded by chert outcrops, interpreted major faults and thrusts
- Conceptual mining study planned to review the 2022 Carlow Inferred Mineral Resource1 including 7.25Mt @ 1.3g/t gold for 296,000oz Au in an optimised pit
- Artemis is also evaluating other quality assets and recently applied for an EL to cover an interpreted intrusion with potential for IOCG Cu/Au mineralisation
- Following the recent $4M placement, the Company is now well funded to drill priority targets around Carlow and progress other promising gold targets
Recently appointed Managing Director Julian Hanna2 commented: ‘As a result of the excellent work completed by the Karratha exploration team during 2024 and following the announced capital raising in December, Artemis is now in a strong position to undertake drilling of some exciting targets at the Karratha Gold Project.
Exploration in the following months will be focussed on the Carlow Tenement which hosts a significant gold - copper resource at Carlow and covers a wide range of exploration targets within a wide, prospective corridor with minimal previous drilling.
I look forward to working closely with the very experienced and committed team at Artemis and updating shareholders with results from the drilling in due course.’
Figure 1. Artemis tenements in Pilbara region of Western Australia with Carlow Tenement hatched
Priority Drill Targets and other Activities – March Quarter 2025
Marillion Electro-Magnetic Anomaly3
Marillion is a large, highly conductive electro-magnetic (FLTEM) anomaly modelled by the Company’s consulting geophysicist as a 500m long, c.11,000 siemens conductor with the top at approximately 350m vertical depth (refer to Figure 2). Marillion is undrilled, and the source of the conductive anomaly is unknown.
Drilling is planned to start in early February with the first drill hole designed to test the centre of the Marillion EM anomaly for possible sulphide hosted mineralisation.
Marillion may potentially represent an extension of the Carlow gold/copper deposit offset >500m by a fault or represent a possible sulphide accumulation at the interpreted base of the Andover Intrusion which is mapped in outcrop near Marillion.
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Castle Minerals: Advancing Strategic Gold Exploration Assets in Ghana’s Upper West Region
Castle Minerals (ASX:CDT) is dedicated to advancing its Kpali and Kandia gold projects in Ghana’s Upper West region, a significantly under-explored yet highly prospective geological setting within the West African gold belt. The company is committed to identifying, exploring, and developing economically viable gold deposits by leveraging the region’s rich mineral endowment and proven mining history.
Castle’s portfolio is anchored by its flagship Kpali and Kandia gold projects, both demonstrating significant potential for resource expansion and economic development. Castle aims to delineate and grow its resource base, positioning itself as a key player in Ghana’s emerging gold sector. The company’s dedication to sustainable exploration practices and strong community partnerships further strengthens its ability to operate effectively and responsibly in the region.
The Kpali gold project, a key focus of Castle Minerals, is located 30 km west of Sawla in Ghana’s Upper West region. It includes the Kpali and Bundi prospects within the 170 sq km Degbiwu prospecting license (PL 10/26), surrounded by the 1,033 sq km Gbiniyiri retention license (RL 8/27). The licenses’ western boundaries follow the Black Volta River, bordering Burkina Faso.
Company Highlights
- 100 percent ownership of a 2,686 sq km strategic landholding in Ghana’s highly prospective Upper West region.
- Flagship Kpali and Kandia gold projects with high-grade gold mineralization and significant resource expansion potential.
- Strong management team with a proven track record in West African gold discoveries and project development.
- Proximity to the multi-million-ounce Black Volta gold project, enhancing economic potential and development synergies.
- Robust exploration pipeline with systematic drilling programs aimed at resource expansion and near-term development.
- Commitment to sustainable and responsible exploration practices, with strong community and government engagement.
- Positioned to capitalize on the growing global demand for gold through disciplined exploration and strategic partnerships.
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Castle Minerals
Investor Insight
Castle Minerals is a compelling investment opportunity, underlined by its 100 percent ownership of two high-potential gold projects, a seasoned management team with a track record of success, and a strategic location near multi-million-ounce gold deposits.
Overview
Castle Minerals (ASX:CDT) is an Australia-based exploration company dedicated to advancing high-value gold projects in Ghana, West Africa. The company holds a 100 percent interest in a highly strategic 2,686 sq. km land package within Ghana’s Upper West region, a significantly under-explored yet highly prospective geological setting within the West African gold belt.
Castle Minerals’ core mission is to identify, explore and develop economically viable gold deposits, leveraging the region’s rich mineralization and proven mining history. The company's management team brings extensive experience and a strong track record of successful discoveries, ensuring that exploration efforts are guided by industry-leading expertise and strategic execution.
Castle’s portfolio is centered around its flagship Kpali and Kandia gold projects, both of which exhibit strong potential for resource expansion and economic development. These projects are situated within prolific gold-bearing structures and have demonstrated high-grade mineralization through extensive exploration efforts. With a focus on systematic exploration, the company aims to delineate and expand resources while positioning itself as a leading player in Ghana’s growing gold industry. Castle’s commitment to sustainable exploration practices and strong community engagement further enhances its ability to operate effectively in the region.
Investment Highlights
- 100 percent ownership of a 2,686 sq km strategic landholding in Ghana’s highly prospective Upper West region.
- Flagship Kpali and Kandia gold projects with high-grade gold mineralization and significant resource expansion potential.
- Strong management team with a proven track record in West African gold discoveries and project development.
- Proximity to the multi-million-ounce Black Volta gold project, enhancing economic potential and development synergies.
- Robust exploration pipeline with systematic drilling programs aimed at resource expansion and near-term development.
- Commitment to sustainable and responsible exploration practices, with strong community and government engagement.
- Positioned to capitalize on the growing global demand for gold through disciplined exploration and strategic partnerships.
Key Projects
Kpali Gold Project
The Kpali gold project, a cornerstone of Castle Minerals' exploration efforts, is strategically located approximately 30 kilometers west of the regional town of Sawla in Ghana's Upper West region. Encompassing the Kpali and Bundi prospects, along with several satellite discoveries, the project area lies within the 170 sq km Degbiwu prospecting license (PL 10/26), which is encircled by the 1,033 sq km Gbiniyiri retention license (RL 8/27). Notably, the western boundaries of these licenses are delineated by the Black Volta River, marking the border with Burkina Faso.
Geologically, Kpali is situated at the convergence of two significant greenstone belts — the Bole-Bolgatanga and Wa-Lawra/Boromo belts — and three regional-scale structures. This unique positioning is associated with several major Birimian-hosted gold deposits in the region, enhancing the project's potential for substantial gold mineralization.
Recent exploration activities have yielded promising results. In February 2025, an eight-hole reverse circulation (RC) drilling program intersected shallow, high-grade mineralization in all holes. Notable intercepts include 12 meters at 8.29 grams per ton (g/t) gold from 25 meters, including 6 meters at 11.60 g/t gold from 31 meters, with a peak 1-meter intercept of 20.43 g/t gold at 36 meters. These findings have significantly upgraded the status of the Kpali gold prospect, suggesting the presence of multiple sub-parallel lodes with high-grade gold mineralization.
The broader district encompassing Kpali contains several other high-conviction prospects, reinforcing its potential as an emerging new exploration frontier. Castle Minerals plans to undertake further drilling programs, including step-out drilling, to delineate the extent of mineralization and assess the project's viability for future development.
In summary, the Kpali Gold Project's strategic location, favorable geology, and recent high-grade drilling results position it as a significant asset within Castle Minerals' portfolio, with the potential to evolve into a major gold production site in Ghana.
Kandia Gold Project
The Kandia gold project is situated in Ghana's Upper West Region. Discovered in 2010 during reconnaissance field mapping, the project encompasses a 16-kilometer-long corridor along a significant granite-sediment contact within Birimian greenstone terrain. This geological setting is known for hosting substantial gold mineralization, with the Kandia prospect itself identified through previously unknown artisanal workings spread over approximately 600 meters of strike.
Initial exploration efforts included extensive soil sampling, airborne geophysical surveys and RC drilling, totaling 264 holes over 19,541 meters. These activities led to the identification of two primary mineralized zones: the "4,000 Zone" and the "8,000 Zone."
Strategically, the Kandia project benefits from its proximity to major gold deposits. The 5.1-million-ounce Namdini gold project lies to the northeast on the same Bole-Bolgatanga greenstone belt, while the 2.8-million-ounce Black Volta gold project's Julie deposit is immediately along strike from the Kandia mineralized trend. This favorable location enhances Kandia's economic attractiveness and potential for development synergies.
Future exploration plans for Kandia involve extensional drilling at the "4,000 Zone" and targeted drilling in other areas with historically wide-spaced shallow drilling, such as the "8,000 Zone," where artisanal mining activities are also present. The primary objective is to delineate multiple near-surface, open-pitable deposits along the 16-kilometer prospective contact, advancing the project toward potential development.
Management Team
Stephen Stone - Executive Chairman
Stephen Stone has more than 30 years of experience in mining and exploration. As the former managing director of Azumah Resources, he led the discovery of a 2.5 Moz gold resource and 1.2 Moz ore reserve at the Wa gold project His expertise in West African gold exploration and project development is instrumental in guiding Castle’s strategic direction.
Matthew Horgan - Non-executive Director
Matthew Horgan brings a strong background in engineering, business development, and investor relations. His experience in strategic corporate growth and resource sector financing supports Castle’s development initiatives.
James Guy - Non-executive Director
James Guy is a geologist with extensive expertise in mining and exploration, specializing in gold and base metals projects across Africa and Australia. He has held senior executive positions with several ASX listed junior resources companies and with banking group, NR Rothschild & Sons. He is currently principal of James Guy & Associates
David Renner - Non-executive Director
David Renner has a strong track record in operations and corporate strategy for resource development. He is a key contributor to advancing the Kambale graphite project.
Hector Nyinaku, Non-executive Director
Hecto Nyinaku focuses on administration, finance and logistics within the mining industry. His strong networks in Ghana’s resource sector provide valuable operational support.
George Asomoah Boadu - Manager of Geology
George Asomoah Boadu has extensive field experience in Ghana’s gold and graphite exploration projects. His expertise is integral to defining Castle’s resource base and implementing effective exploration strategies.
Rua Gold
Investor Insight
Rua Gold offers a compelling investment opportunity driven by its highly promising gold assets in New Zealand’s historic gold-producing regions, and supported by the government’s renewed focus on fast tracking economic growth.
Overview
Rua Gold (TSXV:RUA,OTC:NZAUF,WKN:A4010V,OTCQB:NZAUF) is a gold exploration company focused on two prolific, historic gold-producing regions in New Zealand: Hauraki Goldfield and Reefton Goldfield. Both these regions boast of previous high-grade gold production, with more than 15 million ounces (Moz) produced in the Hauraki district and over 2 Moz in the Reefton Goldfield. New Zealand is a tier 1 mining jurisdiction with highly prospective geology, and a skilled workforce. The new government of New Zealand has committed to promoting economic growth through mining- and business-friendly policies, such as the Fast Track Approval Bill, which proposes quicker approval timelines for a range of projects, including mining.
New Zealand has a rich history of gold production from orogenic deposits (+9 Moz), epithermal sources (+15 Moz), and alluvial deposits (+22 Moz). The country has low sovereign risk with no corruption, making it an attractive destination for mining investment.
The company has launched a fully funded exploration program at its properties. This includes a 2,500-meter diamond drill program focused on the Pactolus prospect at Reefton Goldfield.
Rua Gold solidified its position as the dominant Reefton Goldfield explorer with the acquisition of Reefton Resources, a 100 percent owned subsidiary of Siren Gold (ASX:SNG). The completion of the transaction expands Rua Gold's tenement package to cover over 95 percent of the Reefton Goldfield.
New Zealand’s critical minerals list includes both gold and antimony, enhancing the significance of Rua Gold’s ongoing exploration campaign which revealed promising antimony potential. Rua Gold sits on the majority of New Zealand’s known antimony inventory, a strategic advantage that positions the Reefton Project to contribute substantial economic value while strengthening New Zealand’s critical mineral supply.
Rua Gold benefits from a team of professionals boasting extensive expertise in geology and mining. The company’s board of directors is led by Oliver Lennox-King (Fronteer, Roxgold), who has a successful track record developing projects and companies.
Company Highlights
- Rua Gold is a gold exploration company with two highly prospective land packages in New Zealand’s historic gold districts – Hauraki Goldfield and Reefton Goldfield.
- New Zealand is a tier 1 mining jurisdiction boasting highly promising geological formations and a significant history of gold production, with orogenic deposits (+9 Moz), epithermal sources (+15 Moz), and alluvial deposits (+22 Moz).
- The company’s two key assets include the Reefton Goldfield on New Zealand’s South Island and Glamorgan on New Zealand’s North Island.
- The new government is focused on stimulating economic growth, as evidenced by the recent Fast Track Approval Bill, which proposes fast-track approvals for a range of projects, including mining.
- Rua Gold has high-quality orogenic and epithermal gold prospects, boasting historical production grades ranging from 16 to 50 g/t gold.
- Rua Gold is fully permitted and fully financed with significant near-term catalysts. The company has launched an exploration program at its two properties. Drilling is ongoing at the company’s properties in the Reefton district.
- The company completed the acquisition of Siren Gold’s Reefton assets with tenements adjacent to Rua Gold’s suite of properties in New Zealand’s prolific Reefton Goldfield.
- A seasoned board and management team is at the helm of Rua Gold, with extensive regional knowledge and a proven track record of successful discoveries. With full financing and permits in place, the company is well-positioned to capitalize on growth prospects.
Key Projects
Reefton Goldfield
Rua Gold holds six project areas at the Reefton Goldfield – Northern, Capleston, Murray Creek, Ajax, Crushington and Southern. The Reefton district has a rich history of gold production with over 2 Moz of gold recovered at 24.5 g/t. Among the noteworthy findings from recent years of exploration is the greenfield discovery of the Pactolus quartz vein. Assays have unveiled significant high-grade gold concentrations in this vein.
Rua Gold’s systematic exploration has highlighted the potential for the rejuvenation of this district in renewed opportunities around the historic high-grade gold deposits. Rua Gold completed an extensive assessment of the historical mines situated within the company's tenements in the Reefton Goldfield, yielding five targets in the Murray Creek area.
Ongoing drill campaign at the Murray Creek prospects revealed all three drill holes intercepted visible gold within down-dip extensions of the historical Victoria lode, confirming vertical continuity over 100 meters, with the system remaining open at depth. Gold results in four of the six drill holes at Capleston, with the northernmost intercept showing an average of 4.8g/t gold over 3.3 m. Rua Gold implemented the Devico Navi-drilling technology which enhanced drilling accuracy and cost efficiency during the resource definition phase.
Glamorgan Project
The Glamorgan project comprises over 4,600 hectares in the Hauraki district on New Zealand’s North Island. Hauraki boasts of a substantial presence of high-grade gold and silver mining, with approximately 50 epithermal deposits mined since the 1860s. These deposits have yielded over 15 Moz of gold and 60 Moz of silver. Glamorgan has a 3.8 km zone displaying indications of gold mineralization, backed by soil and rock samples, suggesting the presence of an epithermal gold mineralized system at the property.
Glamorgan is located 2.8 kms north of Oceana Gold’s recent significant discovery at Wharekirauponga. The company has applied for a minimum impact access agreement with the New Zealand Department of Conservation. Once granted, the company will commence an exploration program that includes soil sampling, magnetic and resistivity geophysical surveys, and geological mapping.
Rua Gold completed the first phase of surface exploration on its Glamorgan epithermal gold prospect which identified two significant soil anomalies over 4 kms in length. Significant gold grades (8 to 43 ppm gold) were recorded in rock float and in situ rock samples from detailed geological mapping. Controlled source audio-frequency magnetotellurics (CSAMT) ground geophysics has commenced as a precursor to the company’s targeted diamond drilling.
Management Team
Oliver Lennox-King – Non-executive Chairman
Oliver Lennox-King boasts a distinguished and extensive career within the mineral resource sector, encompassing a broad experience in financing, research and marketing. Since 1992, he has occupied senior executive and board roles in various junior exploration and mining enterprises. Most recently, Lennox-King was the chairman of Roxgold from 2012 until July 2021 when it was sold for $1.2 billion to Fortuna. In addition to Roxgold, he also served as chairman of other notable firms, including Pangea Goldfields, Aurora Uranium and Fronteer Gold.
Robert Eckford – CEO and Director
Robert Eckford is a certified professional accountant with significant expertise in mergers and acquisitions, accounting, finance and commercial management within the mining sector. Most recently he was co-founder and head of finance for Aris Mining, and prior to that, has worked with international mining companies, including Barrick Gold, Yamana Gold and Leagold Mining.
Simon Henderson – COO and Director
Simon Henderson is an exploration specialist and has over 40 years of experience, most of which is in New Zealand. He was part of the discovery team for several significant gold finds in New Zealand, such as Wharekirauponga. He maintains robust connections with key local stakeholders and the country's permitting authorities.
Zeenat Lokhandwala – CFO and Corporate Secretary
Zeenat Lokhandwala brings over a decade of expertise in mergers and acquisitions, finance, accounting and taxation. She is the former CFO of Great Bear Royalties and director of finance at Great Bear Resources.
Brian Rodan - Director
Brian Rodan has more than 43 years of experience who is currently serving as Fellow of the Australian Institute of Mining and Metallurgy. Rodan is the founding director of Dacian Gold (ASX:DCN)
Mario Vetro - Director
Mario Vetro has extensive experience structuring and providing guidance to resource companies. He is the co-founder of K92 Mining and the proprietor of Commodity Partners.
Paul Criddle - Director
Paul Criddle has extensive experience constructing and overseeing gold mines in Australia and West Africa. He was formerly a chief operating officer for West Africa at Fortuna and also served as the COO for Azimuth and Perseus. He was previously the managing director at Matador Mining.