Artemis Resources has agreed to acquire majority stake of 90% in license 2013/06 in Southern Greenland.

The 146km² license area covers Amitsoq graphite mine, which is said to be prospective for gold, copper, nickel and platinum group elements (PGEs) as well.

Located on an island located 15km north of the Nanortalik, the Amitsoq mine was an open-cut operation between 1911 and 1924 and produced 6,000 tons at 21% graphite.

Artemis exploration general manager Ed Mead said: "Future demand for graphite looks firm due to its long-standing industrial uses, it being a key component in lithium-ion batteries for electric vehicles and also due to the constrained supply from the world’s major producer of graphite, China."

International geological consultancy firm SRK Exploration Services will review the known historic and publicly available data on Amitsoq where graphite flakes of around 15mm are said to be occur.

Based on graphite and base metals exploration techniques, the company plans to carry out an airborne electromagnetic survey to identify conductors.

As part of a field trip, anomalies will be validated and samples will be collected to assist with designing a drill program.