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Artemis Resources in trading halt ahead of capital raising news

A 12-hole RC drilling program for 1,928 metres has been completed at Munni Munni with samples in transit to ALS Global Laboratories in Perth.

Artemis Resources Ltd - Artemis Resources in trading halt ahead of capital raising
Drilling programs are underway at the company's West Pilbara project

Artemis Resources Ltd (ASX:ARV) has been granted a trading halt by the ASX with a capital raising announcement pending.

The trading halt will be in place until the beginning of regular trade on Friday, July 17, or when an announcement is made to market, whichever occurs earliest.

In its application to the ASX, Artemis said: "The trading halt is necessary as the company is undertaking a bookbuild in relation to the capital raising."

Shares last traded at 8 cents on Friday after reaching a new 12-month high of 8.9 cents earlier that day.

Carlow West Gold Project drilling

Artemis started drilling at the Carlow West Gold Project on June 30, with reverse circulation (RC) drilling underway at 11 holes in an area which returned rock chip assays of up to 9.89 g/t gold.

Aircore drilling is also set to start on July 15, testing the broader 1.8 kilometre-long strike extent of the Carlow West target in the West Pilbara.

The Munni Munni RC drilling of 12 drill holes for 1,928 metres has been completed, with holes spread through the entire upper portion of the mineralisation, to a maximum depth of 200 metres.

Samples are in transit to ALS Global and results are expected in 3-4 weeks.

Quick facts: Artemis Resources Ltd

Price: 0.085 AUD

ASX:ARV
Market: ASX
Market Cap: $95.19 m
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