REG - Empire Metals Ltd - Drill Results: Additional High-Grade Titanium

Empire MetalsAnnouncement

19/12/2023 07:00

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RNS Number : 1756X  Empire Metals Limited  19 December 2023

Empire Metals Limited / LON: EEE / Sector: Natural Resources

 

19 December 2023

Empire Metals Limited

('Empire' or the 'Company')

 

Interim Drill Results Identify Additional Shallow High-Grade Bedded Titanium
Mineralisation

Mineralogical Assessment now Underway

 

Empire Metals Limited (LON: EEE), the AIM-quoted resource exploration and
development company, is pleased to announce the analytical lab results from an
initial five of 40 Reverse Circulation ('RC') drillholes at the Pitfield
Project in Western Australia ('Pitfield' or the 'Project'), which has
identified additional shallow high-grade bedded TiO(2) mineralisation.
Mineralogical studies have now commenced with the Company engaging both the
Australian Federal Government's Commonwealth Scientific and Industrial
Research Organisation ("CSIRO') and a leading, private industry, scientific
research provider, AXT Pty Ltd ('AXT'), to carry out a detailed assessment of
rock chip samples collected from drilling.

 

Highlights

 

·    The planned follow-up 40 RC drillhole programme has now been
completed, with initial analytical lab results received for the first five
drillholes.

 

·    Results have identified a new shallow zone of bedded higher grade
TiO(2) mineralisation in addition to extending the overall broad footprint of
significant TiO(2) mineralisation and providing more information on the
geological controls on grade.

 

·    RC23COS004 intersected a shallow up-dip interval of higher grade
bedded mineralisation that returned results of 154m @ 5.51% TiO(2) from
surface, including 6.28% TiO(2) across the first 48m.

 

·    Results indicate that it is the sandstone beds that host the higher
grade TiO(2) values within the bedded sedimentary succession of sandstones,
siltstones and conglomerates. Future exploration will focus on identifying and
delineating extensive, thick sandstone-rich beds in future drilling
programmes.

 

·    Further promising results are expected from the remaining RC
drillholes, many of which were focused on evaluating the length of the
coincident regional magnetics-gravity anomaly which represents the core of the
giant mineral system.

 

·    CSIRO has been engaged to conduct an Electron Probe Microanalysis
(EPMA) on RC drillhole rock chip samples ("RC chips"), with the objective of
identifying the mineral assemblage within the rocks and, in particular, the
nature and distribution of titanium bearing minerals.

 

·    AXT Pty Ltd (AXT) has been engaged to conduct mineralogical tests
including TESCAN Integrated Mineral Analyzer (TEMA) and state-of-the-art Laser
Induced Breakdown Spectroscopy (LIBS)  imaging on RC chips to determine
mineralogical composition of the host rock and then map out the mineralogical
residence of titanium within the host rock.

 

Shaun Bunn, Managing Director, said: "These exceptional drill results provide
further evidence of the massive 40km long surface footprint of bedded
titanium-rich mineralisation. These interim results also confirm that higher
grade bedded zones of mineralisation can be traced from surface geochemical
sampling anomalies which verifies our targeting approach towards identifying
and delineating the higher-grade parts of this giant titanium-rich mineral
system. We eagerly await the results from the remaining RC drillholes, which
we expect will provide further confirmation of near-surface, high-grade
mineralisation.

 

"The engagement of leading scientists from both the CSIRO and AXT represents
yet another significant milestone in the technical development and
understanding of this globally significant titanium discovery. These studies
will provide invaluable insight into the mineralogical make-up of these highly
altered, sedimentary host rocks and, importantly, the mineralogical residence
of titanium in these host rocks."

 

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.

 

RC Drilling Programme - November- December 2023

The planned 40 RC drillhole programme has now been completed for a combined
total of 5,718m, drilled along the length of the high-density gravity core
identified within the regional magnetics anomaly. Particular focus has been
placed on the higher grade mineralised areas identified through the recent
rock chip sampling, geological mapping and recent diamond drillholes.  All of
the target areas were tested, however several holes intersected excess
groundwater and were terminated short of the planned depth as the holes were
collapsing. Despite this, all of these shortened holes intersected
approximately 50m of the targeted TiO(2) enriched sedimentary rocks.

The results to date from this RC drill programme continue to further define
the scale of this giant, titanium-rich mineral system, with the first five
drill holes identifying new areas of significant TiO(2) mineralisation as well
as confirming a new shallow zone of high-grade bedded TiO(2) mineralisation
(refer Table 1. Significant Drill Results).

Analytical lab results from the first five holes show TiO(2) mineralisation
throughout the entire hole. All drillholes ended in TiO(2) mineralisation,
which was expected based on the previous diamond drilling, whereby all three
diamond drill holes were mineralised to 350m below the surface (announced 29
November 2023). These particular five RC drillholes predominantly intersected
hematite-epidote-carbonate altered sandstone which had also been observed
throughout the diamond drill holes previously drilled.  Several holes also
had minor interbeds of conglomerate which was similarly altered.

Drillhole RC23COS004 intersected higher grade TiO(2) mineralisation from
surface to the bottom of the hole.  This hole encountered predominantly
sandstone with minor conglomerate beds. The top of the hole has a 48m
high-grade interval starting from surface that averaged 6.28% TiO(2) hosted by
hematite-epidote-carbonate altered sandstone . The analytical lab results
indicate that the sandstone is the preferred host for higher grade TiO(2)
mineralisation. The conglomerate is also highly mineralised, but not quite to
the same extent.

The high-grade results from hole RC23COS004 are supported by the previously
reported high-grade rock chip results (announcement 13 November 2023) which
were collected nearby to this drill collar location.  The closest rock chip
sample was taken only 90m away and graded 9.44% TiO(2).  The drill results
are also backed up by the historic auger sampling carried out by CRA which
highlighted elevated TiO(2) across this target area.  The higher grade bedded
mineralisation intersected in RC23COS004 is similar to that encountered in
previously reported diamond drillhole DD23COS001 (announcement 24 November
2023) located ~1km to the east, that intersected 173.2m @ 5.76% TiO2 from
18.6m including 58.7m @ 6.32% TiO(2) from 24.0m, indicating that there is an
abundance of thick, strongly mineralised beds that come to surface in this
part of the mineral system.

The Company is currently awaiting the analytical lab results from the
remaining 35 RC drillholes, with results expected early in the new year.

 

 

Figure 2.  Grey-scale magnetics map overlain by airborne gravity survey
results showing current RC drillhole locations, previous diamond core
drillholes and maiden RC drillholes.

 

Significant Drill Results

 Hole ID     Depth From (m)  Depth To (m)  EOH (m)  Interval (m)  Grade (TiO(2) %)
 RC23COS002  6               96            96       90            4.02
 inc.        6               34                     28            4.31
 RC23COS003  10              70            70       60            3.97
 RC23COS004  0               154           154      154           5.51
 inc.        0               48                     48            6.28
 RC23KAD001  0               148           148      148           3.40
 RC23KAD002  0               148           148      148           3.28
 inc.        4               44                     40            3.96

Table 1.                Significant Intercepts from RC Drilling

 

 

 

Initiation of Detailed Mineralogical Studies

 

Mineralogical studies have now commenced with the Company engaging both the
CSIRO and AXT, to carry out a detailed studies of rock chip samples collected
from drilling.

 

The CSIRO has been engaged to conduct an Electron Probe Microanalysis (EPMA)
on RC chips, aimed at identifying the mineral assemblage within the rocks and,
in particular, the nature and distribution of titanium bearing minerals. EPMA,
one of several particle-beam techniques, is an analytical technique that is
used to establish the composition of minerals within small areas on rock
specimens.

 

The CSIRO is an Australian Government statutory authority constituted and
operating under the provisions of the Science and Industry Research Act 1949.
CSIRO's primary functions under the Act are to carry out scientific research
to benefit Australian industry and the community, and to contribute to the
achievement of national objectives.  The CSIRO has extensive experience in
assessing minerology of unique ore as well as related ore process development.

 

AXT Pty Ltd (AXT) has been engaged to conduct mineralogical tests including
TESCAN Integrated Mineral Analyzer (TEMA) and state-of-the-art Laser Induced
Breakdown Spectroscopy (LIBS) imaging on RC chips to determine mineralogical
composition of the host rock and then map out the mineralogical residence of
titanium within the host rock.

 

The Company expects results from this programme to provide a better
understanding of the mineral assemblage that compose the host rock, including
the specific minerals present  and their relative abundances.  An
understanding of the mineral assemblage will provide important information
towards establishing the dominant minerals, and especially the
titanium-hosting minerals, which is critical to identifying potential ore
processing options towards the economic assessment of this giant mineral
system.

 

Future Work

In addition to the 40 RC drillholes completed November-December 2023, a third
RC drill programme is scheduled to start in February 2024, consisting of an
additional 40 drillholes for approximately 6,000m, which will further test
those areas identified as potentially having higher grade, near-surface TiO(2)
mineralisation.

 

It is additionally planned to continue the mineralogical studies that have
been initiated towards defining representative host mineral assemblages, with
results expected to provide important information towards economic assessment
and to accelerate the development of the Pitfield Project.

 

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.

 

**ENDS**

 

 

For further information please visit www.empiremetals.co.uk
(http://www.empiremetals.co.uk)   or contact:

 Empire Metals Ltd

 Shaun Bunn / Greg Kuenzel                                                               Tel: 020 4583 1440
 S. P. Angel Corporate Finance LLP (Nomad & Broker)                                      Tel: 020 3470 0470

 Ewan Leggat / Adam Cowl
 Shard Capital Partners LLP (Joint Broker)                                               Tel: 020 7186 9950

 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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