TIDMEEE
RNS Number : 2356R
Empire Metals Limited
25 October 2023
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
25 October 2023
Empire Metals Limited
('Empire ' or the 'Company')
Diamond Drilling Update at Pitfield:
Completion of Two of the Three Planned Diamond Drill Holes
Successfully Mapping Scale and Structure of the Giant
Titanium-Enriched Mineral System
Empire Metals Limited (LON: EEE), the AIM-quoted resource
exploration and development company, is pleased to announce that
two of the three planned Diamond Core holes have been completed at
the Pitfield Project in Western Australia ('Pitfield' or the
'Project'), and drilling of the third and final Diamond Core drill
hole is now underway.
Highlights
-- Logging of the core from the first diamond drillhole near Mt Scratch has identified titanium mineralisation throughout the entire length of hole, confirming that the titanium mineralisation previously intersected in the maiden reverse circulation ("RC") drill program extends to depth.
-- The mineralisation is stratabound and hosted by east-dipping,
intensely altered sedimentary beds, principally an interbedded
sandstone-siltstone succession. The mineralisation remains
completely open at depth and along strike.
-- Visual inspection of the core from the second drillhole,
located 30kms to the south, has indicated the presence of similarly
extensive, stratabound titanium mineralisation hosted by a coarser
succession of sedimentary host rocks, largely conglomerates and
sandstones.
-- Logging and sampling of the drill core is ongoing with all
assays pending. The Company expects to be able to release more
information about key parameters such as mineralogy, grades, and
geological controls in the coming weeks.
-- Field activities have continued in parallel with the drilling
campaign, with geological mapping and rock chip sampling carried
out across the strongest parts of the large gravity high anomaly
delineated by the recent airborne gravity survey and which are
believed to outline the thicker and denser, more mineralised parts
of this giant titanium-rich mineral system.
-- The next phase of RC drilling, scheduled to begin later in Q4
2023, will involve a much larger programme with approximately 40 RC
holes totalling 6,000 metres currently planned along the length of
the high-density gravity core within the regional magnetics
anomaly.
Shaun Bunn, Managing Director, said: "I am pleased to report the
positive progress being made at Pitfield with two out of the three
planned diamond core holes now completed. We have completed logging
and sampling on the first drill hole and are awaiting assay
results. Based on our geological logging and portable hand-held XRF
measurements we are confident that the titanium mineralisation
identified in our maiden RC drill programme (announced 30 May 2023)
continues at depth."
"The diamond core drilling is the first phase of a major
exploration push aimed at understanding the grade, mineralogy,
thickness and magnitude of this giant titanium-rich mineral system.
Samples of the core collected have been shipped for assay and
mineralogical studies. Further samples are being prepared for
metallurgical testwork, which will help define the nature and
potential economic value of this giant, titanium enriched mineral
system."
The Pitfield Project
Empire holds a 70% interest in Pitfield which is comprised of
four granted Exploration Licences (E70/5465, E70/5876, E70/6320 and
E70/6323) covering 1,042km(2) . Pitfield is located near Three
Springs, a town 313km north of Perth, Western Australia on the
Midlands Road, which until the opening of the Brand Highway in 1975
was the main road route from Perth to the state's north (refer
Figure 1).
Figure 1. Pitfield Project Location showing the scale of the
magnetics anomaly and coincident alteration footprint.
Diamond Core Drilling Update
The maiden, reconnaissance RC drilling campaign (announced 30
May 2023) focused on areas where Empire had previously identified
highly chargeable-highly resistive anomalies from an Induced
Polarisation (IP) ground geophysical survey. These anomalies were
sourced to stratabound titanium
and iron oxide mineralisation hosted within a strongly
hydrothermally altered, bedded succession of clastic sedimentary
rocks, composed of interbedded sandstones and siltstones, and
lesser conglomerate beds. None of the holes from the maiden drill
programme targeted these newly defined discrete, strong,
high-density anomalies(Figure 2).
Figure 2. Grey-scale magnetics map overlain by airborne gravity
survey results with indicative highest density zones (solid yellow
outlines) and locations of diamond core drill holes and maiden RC
drill holes/IP survey lines.
The extensive, high-grade titanium mineralisation (between 4%
and 10% TiO(2) ), identified in all but one of initial 21 RC holes
previously drilled, has proved to be a globally significant, world
class exploration target that required diamond core drilling as the
next step towards fully assessing its economic potential. The three
diamond core drill holes of this programme were strategically
positioned to provide broad coverage across the 30km length of the
largely coincident regional gravity and magnetics anomalies (refer
Figure 2).
The Company has completed drilling two of the three planned
diamond drillholes, with the first drillhole (DD23MTS001) now
having been logged and sampled. This hole was located at Mt
Scratch, where the majority of the maiden RC drillholes were
completed. The final length of the angled hole was 408.4m, ending
approximately 350m vertically below surface. The drillhole
intersected a thick sedimentary succession of interbedded
sandstones and siltstones, referred to as the Mt Scratch Siltstone
formation. These sedimentary host rocks display extensive and
strong iron-rich alteration, including a steel-grey hematitic
alteration and a ferruginous brown alteration which alternate
throughout the hole. Titanium mineralization appears to be
extensive and associated with strong iron-rich alteration as
indicated by portable XRF logging of the core. Petrographic
analysis will better define these two important iron-rich
alteration types and help determine the association with titanium
mineralization and Ti grade. Chlorite and epidote alteration of the
host sedimentary rocks is also observed and varies in
intensities.
Photos of diamond drill core from Mt Scratch (DD23MTS001):
Future Work
The next drill programme, scheduled for late Q4 2023 will
involve a significant RC drilling campaign, which will be carried
out along the length of the strong gravity high with a particular
focus on the inferred very dense zones that have been identified
within the magnetics anomaly. The objective of this drill programme
is to not only confirm the scale of this giant, titanium-enriched
mineral system but to also understand the distribution of key
factors better, such as grade, mineralogy, thickness and extent of
mineralised beds and controls on high-grade TiO(2)
mineralisation.
Competent Person Statement
The technical information in this report that relates to the
Pitfield Project has been compiled by Mr Andrew Faragher, an
employee of Eclipse Exploration Pty Ltd, a wholly owned subsidiary
of Empire. Mr Faragher is a Member of the Australian Institute of
Mining and Metallurgy. Mr Faragher has sufficient experience that
is relevant to the style of mineralisation and type of deposit
under consideration and to the activity being undertaken to qualify
as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Faragher consents to the inclusion
in this release of the matters based on his information in the form
and context in which it appears.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, as incorporated into UK law by the
European Union (Withdrawal) Act 2018, until the release of this
announcement.
**S**
For further information please visit www.empiremetals.co.uk or contact:
Empire Metals Ltd
Shaun Bunn / Greg Kuenzel Tel: 020 4583 1440
S. P. Angel Corporate Finance LLP Tel: 020 3470 0470
(Nomad & Broker)
Ewan Leggat / Adam Cowl
---------------------
Shard Capital Partners LLP (Joint Tel: 020 7186 9950
Broker)
Damon Heath
---------------------
St Brides Partners Ltd (Financial Tel: 020 7236 1177
PR)
Susie Geliher / Ana Ribeiro
---------------------
About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and
resource development company with a project portfolio comprising
copper, titanium and gold interests in Australia and Austria.
The Company's strategy is to develop a pipeline of projects at
different stages in the development curve. Its current focus is on
the Pitfield Project in Western Australia, which has demonstrated
to contain a newly recognised giant mineral system that hosts a
globally significant titanium discovery. The Company is also
advancing the Eclipse-Gindalbie Project in Western Australia, which
is prospective for high-grade gold and also kaolin used to produce
high-purity alumina, an essential component in lithium-ion
batteries.
The Company also has two further exploration projects in
Australia; the Walton Project in Western Australia, and the Stavely
Project in the Stavely Arc region of Victoria, in addition to three
precious metals projects located in a historically high-grade gold
producing region of Austria.
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