REG - Empire Metals Ltd - Drill Results Confirm Widespread High-Grade TiO2

Empire MetalsAnnouncement

25/04/2024 07:00

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RNS Number : 9095L  Empire Metals Limited  25 April 2024

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

 

25 April 2024

Empire Metals Limited

('Empire' or the 'Company')

 

2024 Drill Results Confirm Widespread High-Grade Titanium Mineralisation from
Surface

 

Empire Metals Limited (LON: EEE), the AIM-quoted resource exploration and
development company, is pleased to announce the analytical lab results from an
initial 18 Reverse Circulation ('RC') drillholes at the Pitfield Project in
Western Australia ('Pitfield' or the 'Project'), which further extends and
increases the understanding of the known areas of high-grade TiO(2)
mineralisation and will form the basis for a JORC code Exploration Target.

 

Highlights

·    The exceptional drill hole results from this programme, along with
prior and pending results, will be used to delineate an Exploration Target for
each priority area, now referred to as the Cosgrove and Thomas sites (shown in
Figures 3 & 4), as a key step in the mineral resource development
programme.

·    Analytical lab results received for the first 18 RC drillholes of the
recently completed 40 RC drillholes, with further assays pending.

·    Drilling continues to successfully define the scale of this giant,
titanium-enriched mineral system, with all 18 drillholes analysed to date
identifying high-grade TiO(2) mineralisation, from near surface to end of
hole.

·    Significant RC drillhole intercepts include:

§ RC24COS019 intersected 148m @ 6.49% TiO(2) from 0m;

§ RC24COS018 intersected 148m @ 6.30% TiO(2) from 0m;

§ RC24COS016 intersected 136m @ 6.08% TiO(2) from 12m; and

§ RC24TOM015 intersected 154m @ 5.30% TiO(2) from 0m;

·    Successfully completed four diamond drillholes with excellent core
recovery from surface, analytical results pending.

·    Logging of the diamond drill core has confirmed that the geology
remains consistent with that previously encountered within the high-grade
prospect areas, with sandstone dominating the geology with small interbeds of
conglomerate and siltstone.

·    Results continue to confirm that the sandstone beds hold the higher
grade TiO(2) values within the interbedded succession of sandstones,
siltstones and conglomerates.

 

Shaun Bunn, Managing Director, said: "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.
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 17,035m (including seven diamond core holes
for 2,025m) over a 30km 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."

 

The Pitfield Project

Located within the Mid-West region of Western Australia, near the northern
wheatbelt town of Three Springs, Pitfield lies 313km north of Perth and 156km
south of Geraldton, the Mid West region's capital and major port. Western
Australia is ranked as one of the top mining jurisdictions in the world
according to the Fraser Institute's Investment Attractiveness Index published
in 2023, and has mining-friendly policies, stable government, transparency,
and advanced technology expertise. Pitifled has existing connections to port
(both road & rail), HV power substations, and is nearby to natural gas
pipelines as well as a green energy hydrogen fuel hub, which is under planning
and development (refer Figure 1).

Figure 1. Pitfield Project Location showing the Mid-West Region Infrastructure
and Services.

RC Drilling & Diamond Drilling Programme - February - March 2024.

The planned drill programme at Pitfield (announced 5  February 2024) was
completed in late March, and consisted of 40 RC drillholes totalling 6,086m,
and four diamond core drillholes totalling 807m (refer Figure 2). The RC
drillholes ranged between a down hole depth of 148m to 154m, whilst the
diamond holes were all drilled to a downhole depth of 202m. The drilling was
completed on time and on budget with no significant incidents. Excellent core
recovery was achieved from the diamond drilling, commencing from surface to
the end of the hole.

Figure 2. Grey-scale magnetics map overlain by airborne gravity survey results
with the location of the 2024 RC and diamond drill holes, and the 2023 RC and
diamond drillholes.

The results received so far to date continue to prove up the extent and grade
of the mineralisation at two of the key prospects (Cosgrove and Thomas), which
have been identified as having thick, high-grade, near-surface, bedded TiO(2)
mineralisation, each being over 7km in strike length (refer Figures 3 and 4).

Logging of the diamond drill core has confirmed that the geology within the
key prospects remains the same as previously reported within the area, with
sandstone dominating the geology with small interbeds of conglomerate and
siltstone. There is evidence of strong alteration, consisting of hematite,
epidote and carbonate, which overprints the sandstones and conglomerates.
The diamond drilling, particularly the near surface core, will provide
important samples for further metallurgical and mineralogical studies.

Analytical laboratory results from the first 18 holes show continuous TiO(2)
mineralisation throughout each drillhole, with all drillholes still in TiO(2)
mineralisation at the end of the hole (refer Table 1). This was expected and
is consistent with previous RC and diamond drilling results, whereby diamond
drilling for instance has confirmed mineralisation to 350m below the surface
(announced 29 November 2023).

The Company is currently awaiting the results from the remaining 22 RC
drillholes and the four diamond drill holes. All remaining RC drillhole
samples and diamond core samples have now been prepared and submitted to the
analytical laboratory for analysis.

 

Significant Drill Results

 Hole ID     Depth From (m)  Depth To (m)  EOH (m)  Interval (m)  Grade (TiO(2) %)
 RC24COS015  16.0            148.0         148.0    132.0         5.68
 RC24COS016  12.0            148.0         148.0    136.0         6.08
 RC24COS018  0.0             148.0         148.0    148.0         6.30
 RC24COS019  0.0             148.0         148.0    148.0         6.49
 RC24COS020  0.0             148.0         148.0    148.0         5.16
 RC24COS021  0.0             148.0         148.0    148.0         5.81
 RC24COS022  0.0             148.0         148.0    148.0         4.08
 RC24COS023  0.0             148.0         148.0    148.0         4.94
 RC24COS024  0.0             148.0         148.0    148.0         4.77
 RC24COS025  0.0             148.0         148.0    148.0         4.92
 RC24TOM012  0.0             154.0         154.0    154.0         3.12
 RC24TOM013  0.0             154.0         154.0    154.0         4.51
 RC24TOM015  0.0             154.0         154.0    154.0         5.30
 RC24TOM016  0.0             154.0         154.0    154.0         4.78
 RC24TOM017  20.0            154.0         154.0    134.0         4.76
 RC24TOM018  0.0             154.0         154.0    154.0         5.13
 RC24TOM019  0.0             154.0         154.0    144.0         5.29
 RC24TOM020  0.0             154.0         154.0    154.0         4.89

Table 1.                Significant Intercepts from RC Drilling

Figure 3.  Cosgrove Prospect Drill Collar Location: including colour coding
for drill holes based on TiO(2) assay grade.

Figure 4.  Thomas Prospect Drill Collar Location: including colour coding for
drill holes based on TiO(2) assay grade.

Future Work

 

Metallurgical Test Work

Mineralogical studies have now been initiated on recently recovered diamond
core sections, aimed to define better the mineral assemblage of near surface
weathered bedding portions as well as deeper bedded mineralisation. Results
are expected to provide important information in relation to the differing
zones of oxidation encountered from surface to depth, and the effect that
weathering may have on the main economic minerals and gangue minerals present.
This in turn will inform the metallurgical team and allow them to tailor the
processing testwork to better suit the varying ore characteristics.

 

Exploration Target

Geological modelling work has been initiated in relation to the delineation of
an Exploration Target over the Cosgrove and Thomas prospects, utilising the
drilling and surface sampling results from the 2023 exploration campaigns.
Completion of this work is dependent on the receipt of the remaining drillhole
analytical results from the 2024 programme and further geological and
mineralogical assessment.  As announced as part of the Company's Development
Plan (27 March 2024) it is intended to provide an Exploration Target for both
the Cosgrove and Thomas prospects, in accordance with the requirements of the
Joint Ore Reserves Committee of The Australian Institute of Mining and
Metallurgy, Australian Institute of Geoscientists and Minerals Council of
Australia (JORC) code, post the current drill programme. The Exploration
Target is the precursor to the development of a  Mineral Resource Estimate,
which the Company is rapidly advancing towards.

 

 

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 / Arabella Burwell                                            Tel: 020 4583 1440
 S. P. Angel Corporate Finance LLP (Nomad & Broker)                                      Tel: 020 3470 0470

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

 Damon Heath
 St Brides Partners Ltd (Financial                                                       Tel: 020 7236 1177
 PR)

 Susie Geliher / Charlotte Page

 

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 titanium-rich mineral system that hosts a globally significant titanium
discovery.

The Company also has three further exploration projects in Australia; the
Eclipse Project and 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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