Metamaterial and photonic crystal structures are central to modern optics and are typically created from multiple elementary repeating cells. We demonstrate how one replaces such structures asymptotically by a continuum, and therefore by a set of equations, that captures the behaviour of potentially high-frequency waves propagating through a periodic medium. The high-frequency homogenization that we use recovers the classical homogenization coefficients in the low-frequency long-wavelength limit. The theory is specifically developed in electromagnetics for two-dimensional square lattices where every cell contains an arbitrary hole with Neumann boundary conditions at its surface and implemented numerically for cylinders and split-ring resonators. Illustrative numerical examples include lensing via all-angle negative refraction, as well as omni-directive antenna, endoscope and cloaking effects. We also highlight the importance of choosing the correct Brillouin zone and the potential of missing interesting physical effects depending upon the path chosen.