Artemis Resources Limited

ARBN: 80 107 051 749

Level 3, IBM Building, 1060 Hay Street, West Perth, WA Australia, 6006

PO Box R933

Royal Exchange NSW

Australia, 1225

Phone: +61 2 9078 7670

Facsimile: +61 2 9078 7661 Email: info@artemisresources.com.au Website: artemisresources.com.au

Directors:

Executive Chairman

David Lenigas

Executive Directors

Ed Mead

Alex Duncan-Kemp

Non-Executive Directors George Frangeskides Campbell Baird

Company Secretary:

Guy Robertson

Corporate Information

ASX Code: ARV ASX / Media Announcement 27 March 2017 COBALT DRILLING RESULTS AT CARLOW CASTLE KARRATHA, WESTERN AUSTRALIA.

  • High grades of cobalt, copper and gold continue to be received from the drilling programme at Artemis's Carlow Castle Project.

  • 1.13% Cobalt, 10.71 g/t Gold and 4.44% Copper over 4 metres from 63 metres, with highest Cobalt intercept of 1.94% Cobalt. (ARC002).

  • 0.66% Cobalt, 1.02 g/t Gold and 0.56% Copper over 3 metres from 15 metres, with highest Cobalt intercept of 1.21% (ARC003).

  • 0.98% Cobalt, 0.86 g/t Gold and 1.86% Copper over 3 metres from 32 metres, with highest Cobalt intercept of 1.16% (ARC004).

  • 8 holes have been drilled to date and all have intersected visible mineralisation including primary sulphides.

  • Strike length now extended to 60 metres and the sulphide mineralisation remains open in all directions.

  • Drilling continues and further results expected shortly.

David Lenigas, Artemis's Chairman, commented;

"These stellar cobalt drilling grades speak for themself and are even more significant when added to high grades of gold and copper!"

Artemis Resources Limited ("Artemis" or "the Company") (ASX:ARV) is pleased to announce that high grade cobalt, copper, gold assay results continue to be received from the current RC drilling programme at the Company's 100% owned Carlow Castle Cobalt/Copper/Gold Project near Karratha in Western Australia (Figure 3).

To date, 8 holes have been drilled and drilling continues. Further assay results from ALS Global (Perth Laboratory) will be announced shortly.

Drilling Results:

The ALS Global (Perth Laboratory) assay results and the comparisons with the on-site handheld portable XRF (pXRF) results for drill hole ARC002, ARC003 and ARC004 are shown in Table 1. The drill hole locations are shown in Figure 1.

Table 1: Results for Carlow Castle drill holes ARC002- ARC004- ALS and XRF comparison.

ALS Global Grades (Actual)

pXRF Grades (Indicative)

Hole Number

From (m)

To (m)

Interval (m)

Cobalt

%

Goldg/t

Copper

%

Cobalt

%

Copper

%

ARC002

63

67

4

1.13%

10.71 g/t

4.44%

1.13

6.11

Including

64

66

2

1.78%

19.82 g/t

8.11%

1.30

10.32

ARC003

15

18

3

0.66%

1.02 g/t

0.56%

0.90

1.14

Including

17

18

1

1.21%

1.87 g/t

1.23%

1.35

2.79

ARC004

32

35

3

0.98%

0.86 g/t

1.86%

0.66

2.04

Including

34

35

1

1.57%

0.90 g/t

0.19%

0.49

0.26

pXRF results quoted are from a Niton unit. Note: These pXRF results for Cobalt and Copper should be treated as indicative only and the pXRF gun does not read for gold. The pXRF results are based on a single random point sampling shot through the plastic bag containing the bulk drilling sample.

ALS Global Grades

pXRF Grades (Indicative)

Hole Number

From (m)

To (m)

Interval (m)

Cobalt

%

Gold g/t

Copper

%

Cobalt

%

Copper

%

ARC005

48

54

6

Pending

Pending

Pending

1.27

2.15

ARC006

52

56

4

Pending

Pending

Pending

1.12

1.78

ARC007

10

14

4

Pending

Pending

Pending

0.91

2.50

ARC008

32

43

11

Pending

Pending

Pending

0.66

3.69

Table 3: Hole Co-Ordinates for Carlow Castle.

Hole ID

Type

Total Depth

Dip

Azimuth

East MGA94

North MGA94

ARC001

RC

72

-60

270

506932

7698921

ARC002

RC

90

-55

270

506952

7698919

ARC003

RC

54

-60

270

506909

7698902

ARC004

RC

78

-60

270

506929

7698899

ARC005

RC

90

-55

90

506890

7698919

ARC006

RC

60

-60

270

506950

7698900

ARC007

RC

48

-60

270

506911

7698941

ARC008

RC

78

-60

270

506934

7698940

Table 4: Selected Analytical Results from ALS Global for drillholes ARC002-004.

Au

Co

Cu

As

Ni

SAMPLE

Hole

From

To

ppm

ppm/%

ppm/%

ppm/%

ppm

ARC0154

ARC002

63

64

1.85

7500

1.095

1.095

527

ARC0155

ARC002

64

65

10.75

1.94

8.51

2.82

1495

ARC0156

ARC002

65

66

28.9

1.625

7.72

2.33

953

ARC0157

ARC002

66

67

1.34

2060

4330

2350

228

ARC0212

ARC003

15

16

0.51

2740

1950

1125

191

ARC0213

ARC003

16

17

0.7

4940

2850

1500

307

ARC0214

ARC003

17

18

1.87

1.205

1.225

9310

614

ARC0282

ARC004

32

33

0.45

3030

8850

4040

219

ARC0283

ARC004

33

34

1.22

1.075

4.51

1.565

786

ARC0284

ARC004

34

35

0.9

1.57

1970

2.28

865

Artemis Resources Limited published this content on 27 March 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 26 March 2017 22:48:16 UTC.

Original documenthttp://artemisresources.com.au/wp-content/uploads/2017/03/ARV_Carlow-Castle_Further-high-grade-Cobalt-Drilling-Results-Final.pdf

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