REG - Empire Metals Ltd - Thick, High Grade Ti Mineralisation Intercepted

Empire MetalsAnnouncement

20/11/2023 07:00

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RNS Number : 9055T  Empire Metals Limited  20 November 2023

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

 

20 November 2023

Empire Metals Limited

('Empire' or the 'Company')

 

Thick, Higher Grade Titanium Mineralisation Throughout First Diamond Drillhole
at Pitfield

Reverse Circulation Drilling New Highly Prospective Zones

 

Empire Metals Limited (LON: EEE), the AIM-quoted resource exploration and
development company, is pleased to announce the lab results from geochemical
analysis of samples from the first of three diamond core drillholes completed
at the Pitfield Project in Western Australia ('Pitfield' or the 'Project')
which confirm strong TiO(2) mineralisation throughout the hole to a vertical
depth of circa 350m.

 

The next phase of drilling, an extensive Reverse Circulation ('RC') programme
targeting higher grade mineralisation, has now commenced.

 

Highlights

 

·    Strong titanium mineralisation confirmed throughout entire first
Diamond Core drillhole, from surface to end of hole at 408m, providing further
support for the presence of a district-scale, metal-rich, hydrothermal mineral
system containing multiple, thick higher grade titanium zones within the
larger mineral system.

·    Diamond drillhole #1 (DD23MTS001) intersected wide intervals of
higher-grade titanium mineralisation:

·    276.5m @ 4.57% TiO(2) from 80.5m; including

o  118.5m @ 5.13% TiO(2) from 80.5m; and

o  144.8m @ 4.24% TiO(2) from 207.2m

·    RC drilling of higher-grade target areas has commenced, with
approximately 40 RC holes totalling 6,000 metres currently planned to test the
length of the coincident ~30 km long magnetics-gravity anomaly.

·    Recent rock chip sampling identified broad higher grade TiO(2) drill
targets, covering 3km(2) and 6km(2) respectively, and these will be drill
tested during the current programme.

·    The Company expects to have lab results for the remaining two diamond
drillholes available shortly and expects to be able to release more
information about key parameters such as mineralogy, grades, and geological
controls once the drill core assessment is completed.

 

Shaun Bunn, Managing Director, said: "I am delighted to report the lab results
from our first diamond drillhole, which was positioned towards the northern
end of the massive 40km by 8km by 5km deep hydrothermal mineral system.
These results have confirmed that extensive and higher-grade titanium
mineralisation extends well below the 150m depth first discovered during our
maiden RC drill campaign, with this particular diamond drillhole ending with
higher grade TiO(2) values at 350m below surface, indicating that the
mineralisation continues to remain open at depth. We expect to see similar lab
results for diamond drillholes #2 and #3, which are due out over the next few
weeks.

 

"The next phase of drilling has now commenced, consisting of 40 RC drillholes
which doubles that drilled in our maiden RC drill campaign. This drilling will
target areas within known strong magnetics and/or gravity anomalies and areas
of known high-grade TiO(2) (as identified in our surface sampling).  We
expect this to be another highly successful campaign, one which will establish
not only the district scale of this giant mineral system but also the
potential for extensive, higher-grade zones of titanium mineralisation."

 

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.

Summary of Drill Intercepts - Diamond Drillhole #1 (DD23MTS001)

Geochemical analysis lab results have now been received for this northern most
drillhole, located near 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. Chlorite and epidote alteration of the host
sedimentary rocks is also observed and varies in intensities.

 

Commencing in titanium mineralisation from near surface, DD23MTS001
intersected thick intervals of strong, higher grade titanium mineralisation,
including the following:

·    276.5m @ 4.57% TiO2 from 80.5m; including

o  118.5m @ 5.13% TiO2 from 80.5m

o  144.8m @ 4.24% TiO2 from 207.2m.

See Table 1 for the lab results for each interval from Diamond Hole #1
(DD23MTS001).  The lab test procedures involve multi-acid digest including
Hydrofluoric, Nitric, Perchloric and Hydrochloric acids in Teflon Tubes, with
analysis by Inductively Coupled Plasma Mass Spectrometry. The lab reports Ti
values whilst industry standard is to report equivalent TiO2 values. The
conversion factor for Ti to TiO2 is 1.668.

 

It is important to note that the mineralized interval noted above is contained
within mineralized sedimentary beds which continue upwards to surface to the
west and are open below the hole to the east (see Figure 3).

 

The results continue to confirm that Pitfield hosts a district-scale titanium
mineral system with multiple, broad, higher grade titanium zones identified
within the larger system. The diamond drilling results clearly demonstrate the
continuity of thick bedded zones of higher-grade titanium mineralisation to a
vertical depth of 350m, still with elevated TiO(2) at the bottom of the hole
indicating that the bedded mineralisation extends deeper.  There is good
correlation between zones of higher and lower TiO(2) values observed in
drillhole DD23MTS001 and the previously drilled RC hole (RC23MTS003), collared
50m further east (refer Figure 3) with the Induced Polarisation ('IP')
chargeability response that the maiden RC drilling programme was targeting.
 For example, the intensity of the IP chargeability increases significantly
from 80m downhole in drillhole DD23MTS001, corresponding with the higher
TiO(2) values. The close association between higher grade TiO(2)
mineralisation and high IP chargeability response provides the Company with an
efficient, low-cost exploration tool for targeting larger scale, higher grade
zones within the district-scale mineral system.

Figure 2.  Grey-scale magnetics map overlain by airborne gravity survey
results with locations of diamond core drill holes and maiden RC drill
holes/IP survey lines.

 

Figure 3.  Cross Section - First Priority Drillhole (DD23MTS001) with higher
grade TiO2 Intervals and the adjacent RC drillholes from maiden drilling
programme.

RC Drill Programme

The next phase of drilling, an extensive RC drill programme, targeting higher
grade mineralisation, has now commenced and is expected to run for several
weeks. The programme is planned for 40 drillholes totalling 6,000 metres along
the length of the high-density gravity core within the regional magnetics
anomaly (see Figure 2), with particular focus on the high-grade areas
identified through the recent rock chip sampling and geological mapping. The
objective of this drill programme is to further define the scale of this
district-wide, titanium-enriched mineral system, to carry out initial
drill-tests of higher-grade targets and to understand the distribution of key
factors better, such as grade, mineralogy, thickness and extent of mineralised
beds and controls on high-grade titanium mineralisation.

Figure 4. Photo of RC Rig at Pitfield Project, November 2023.

 

Table 1.  Diamond drillhole #1 (DD23MTS001) geochemical analysis lab results
for TiO2*

(*Conversion factor for Ti to TiO2 is 1.668.)

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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