Empire Metals upbeat on lab results from Pitfield Project

The AIM-traded firm said the results extended and deepened its understanding of high-grade titanium dioxide mineralisation in known areas, laying the groundwork for a JORC-compliant exploration target.

It said the programme’s standout drill hole results, combined with previous and forthcoming findings, would serve as the foundation for delineating an exploration target for each priority area, now identified as the Cosgrove and Thomas sites.

The ongoing mineral resource development programme hinged on that crucial step.

Analytical lab results had been received for the first 18 RC drillholes of the recently-completed 40 RC holes, with additional assays still pending.

The drilling efforts consistently revealed high-grade titanium dioxide mineralisation, from near surface down to the end of each hole, underscoring the scale of the titanium-enriched mineral system.

Several RC drillhole intercepts stood out, including RC24COS019, which intersected 148 metres at 6.49% titanium dioxide from surface level, and RC24TOM015, which yielded 154 metres at 5.30% titanium dioxide from the surface.

The successful completion of four diamond drillholes, with promising core recovery from the surface, added to the anticipation, with analytical results awaited.

Moreover, the logging of the diamond drill core reaffirmed the consistency of the geology encountered within the high-grade prospect areas.

Sandstone dominated the geological composition, interspersed with small interbeds of conglomerate and siltstone.

The results consistently affirmed that sandstone beds held the higher grade titanium dioxide values within the interbedded succession of sandstones, siltstones, and conglomerates, further solidifying the project's potential.

“As expected, our recent drilling continues to produce exceptional results and provides further evidence of extensive high-grade titanium mineralisation within our two key target areas,” said managing director Shaun Bunn.

“The continuous nature of mineralisation within the sandstone beds, which remains open in all directions and starts at, or near, surface and continues beyond the end of each drillhole, provides an excellent basis for delineating a resource development exploration target which will be the focus of our efforts once we have received all of the remaining RC and diamond drill core analytical results.

“What is truly remarkable about this giant mineral system, is that having now drilled a total of 108 holes for 17,035 metres - including seven diamond core holes for 2,025 metres - over a 30 kilometre strike length, we are yet to encounter any igneous intrusions or significant cross faults that could disrupt and complicate the ore geology.

“Consequently the remarkable continuity of titanium mineralisation and the consistent grades demonstrates just how simple the giant mineral system really is from a geological modelling perspective and it is for this reason we have been able to rapidly progress the project from maiden discovery to establishing exploration targets and commencing process development within the space of 12 months.”

At 0928 BST, shares in Empire Metals were up 7.38% at 8p.

Reporting by Josh White for Sharecast.com.