
June 06, 2023
Alvo Minerals Limited (ASX: ALV) (“Alvo” or the “Company”) is extremely pleased to announce the signing of a binding agreement to purchase the highly prospective Bluebush REE Project (“Bluebush” or the “Project”), located on the northern half of the Serra Dourada granite, host of the Serra Verde Ionic Clay REE deposit (“Serra Verde”).
HIGHLIGHTS
- Alvo Minerals Limited has entered into a binding agreement for the purchase of the highly prospective Bluebush Rare Earth Element (“REE”) Project in Central Brazil, adjacent to Alvo’s existing Palmeiropolis exploration base.
- Bluebush is located adjacent to and in the same geological setting as the Serra Verde Ionic Clay REE Project, the only genuine Ionic Clay project currently in construction outside of China.
- Bluebush has been held privately by Mata Azul S/A since 2004 and was primarily explored for REEs associated with concentrates of alluvials, with the saprolite (clay) potential at an early stage of exploration.
- Early-stage exploration work completed by the vendors has confirmed high-grade REEs at shallow levels with values up to 4,500ppm TREO in alluvials and 2,350ppm TREO in saprolite (clay).
- Saprolite results recorded a very high magnet rare earth split averaging 35% (MREO/TREO)
- Auger drilling focused on surface alluvial- average hole depth of 3.6m
- Early-stage exploration completed (auger, channel and pit sampling) with intercepts of saprolite (clay) mineralisation from surface and ending in REE mineralisation (*hole ends in REE mineralisation), includes significant intercepts as below. Please refer to cautionary statement below for previous exploration results.
- 6m @ 1,188ppm TREO (37% MREO) auger ERRO273AGR from 1m* (Boa Vista 01)
- 1m @ 1,355ppm TREO (29% MREO) auger ERRO031AGR from 1m* (Ferradura)
- 5m @ 1,139ppm TREO (36% MREO) auger ERRO072AGR from 1m* (Fazendinha)
- 13m @ 928ppm TREO (33% MREO) auger ERRO017AGR from 0m* (Ferradura)
- 6m @ 871ppm TREO (31% MREO) auger ERRO142AGR from 0m* (Ferradura)
- 7m @ 860ppm TREO (43% MREO) auger MAZ-TR-011 from 1m* (Fazendinha)
- 6m @ 796ppm TREO (34% MREO) auger ERRO279AGR from 0m* (Boa Vista 1)
- 5m @ 951ppm TREO (37% MREO) auger ERRO136AGR from 1m* (Ferradura)
- 4m @ 863ppm TREO (35% MREO) auger ERRO095AGR from 1m* (Praiao 02)
- Ability to purchase up to 100% of Bluebush through staged payments based on project milestones.
- 6-month (+3 months) due diligence process underway following payment of BRL100,000 (A$30,530).
- Due Diligence work will include auger drilling to extend existing mineralisation depth profile and strike extent and sampling of saprolite to confirm Ionic Clay mineralisation.
- Alvo’s exploration team and inhouse equipment including truck mounted auger rigs are in place locally
- and will proceed under guidance from international REE specialists.
*Cautionary Statement: The exploration results reported in this announcement have been reported by the previous owner. The Exploration Results have not been reported in accordance with accordance with JORC Code 2012. A Competent Person has not done sufficient work to disclose the exploration results in accordance with the JORC Code 2012. It is possible that following further evaluation and/or exploration work that the confidence in the prior exploration results may be reduced when reported under the JORC Code 2012. Nothing has come to the attention of Alvo that causes it to question the accuracy or reliability of the former owner’s exploration. The Company however has not independently validated the former owner’s exploration results and therefore is not to be regarded as reporting, adopting or endorsing those results.
Serra Verde is majority owned by US based private equity group, Denham Capital1, and boasts a Mineral Resource2 of 911Mt @ 1,200ppm Total Rare Earth Oxide (“TREO”) and a Mineral reserve of 350Mt @ 1,500ppm TREO with high heavy and critical ratios of Magnet Rare Earth Oxide (“MREO”). Of significance is that Serra Verde is the only Ionic Clay project in construction outside of China, and the adjacent Bluebush Project exhibits many similar characteristics in terms of grades and REE ratios.
Bluebush is located within 10km of Alvo’s exploration base where Alvo has the team, the tools and expertise to conduct a timely and cost-effective exploration program to rapidly advance the Bluebush Project.
Rob Smakman, Alvo’s Managing Director commented on the Bluebush Project:
“Brazil is emerging as a premier location for Rare Earth Elements and Alvo is incredibly excited by the acquisition of Bluebush, which is a potential ‘Tier 1’ Ionic-Clay rare earth project. Alvo is now entering the race to develop these critical minerals which are vital in the global energy transition.
“The Project itself is located adjacent to the Serra Verde mine, the largest and most advanced ionic-clay REE project outside of China, and many of the attributes at Bluebush appear similar. Bluebush hosts high grades at surface, broad zones of saprolite which have barely been tested, and the mix of Magnet or Critical REEs to Total REEs appears very similar to those at Serra Verde.
“The opportunity at Bluebush only became available to Alvo through our local presence, with the vendors only interested in dealing with a team with proven exploration execution capabilities as we have demonstrated at Palma. Being privately held and focused on cashflow, the vendors have concentrated on the alluvial potential of the Project and only scratched the surface for ionic clay hosted REEs. We plan to rapidly test the ionic clay mineralisation potential at Bluebush, which is such a similar exploration setting to that of Serra Verde.
“The Bluebush acquisition makes perfect sense for Alvo and is synergistic with existing exploration at Palma. Our exploration base and Brazilian head office are located a few kilometres from Bluebush, and we have existing relationships with the owners and local stakeholders. Couple that with the existing exploration team, the best tools for the exploration in country and consultants that can help us effectively explore, and we have what I believe is a winning formula for success.
“We are ready to immediately start our due-diligence on the Project, where we will test for the depth extents of the saprolite with our inhouse auger drill-rig and then run a series of tests on the mineralisation to confirm their ionic clay characteristics. We will be guided in our due diligence by international REE specialists Met-Chem Consulting.”
Click here for the full ASX Release
This article includes content from Alvo Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
ALV:AU
The Conversation (0)
08 August 2022
Alvo Minerals
Overview
While the copper market has been affected by overall economic conditions, the metal is necessary for the long-term decarbonization movement. In 2023, Fitch Solutions revised its 2023 copper price forecast from $8,400 per tonne to $8,500 due to higher demand and weaker supply. Copper prices will also continue to increase each year to $9,100 per tonne in 2024, $9,400 per tonne in 2025, $9,800 per tonne in 2026, and up to $11,500 per tonne in 2031.
Latin America is a dominant player in global mining, leading in copper, silver and iron ore production. Codelco, the major Chilean mining company, is the largest copper producer worldwide. Additionally, significant partnerships with automotive manufacturers, such as Ford, create even greater interest in the region. Major players in Brazil’s mining landscape include Ero Copper (TSX:ERO), a high-margin, high-growth green copper producer with fully funded operations in Para, Mato Grosso and Bahia.
Alvo Minerals (ASX:ALV) is an exploration and development company focused on a district-scale opportunity in the underexplored Palmeiropolis region of central Brazil. The advanced-stage Palma project has produced exploration results that indicate high-grade copper-zinc deposits in a rich volcanogenic massive sulphide (VMS) district. The project is surrounded by active mines, including Lundin Mining’s Chapada copper-gold mine and Serra Verde’s REE project.
The Palma project was discovered in the 1970s, yet it has been idle for over 30 years. Once Alvo Minerals acquired the project, it became the first mining company to apply modern, systematic and aggressive exploration techniques to the project. A 2012 JORC inferred mineral resource estimate indicated 4.6 million tonnes at 1.0 percent copper, 3.9 percent zinc, 0.4 percent lead and 20 g/t silver. The company also recently released assays on the C3 deposit - with highlights including 7 meters @ 5.2 percent copper, 8 percent zinc and 7.4 meters @ 2.2 percent copper, and 23.1 percent zinc.
The district-scale project has identified two prospects with distinct characteristics: C3 and C1. The C3 prospect has completed phase 1 drilling, and assays indicate high-grade copper and zinc. The C1 prospect has undergone diamond drilling, and phase one intercepted significant polymetallic sulphides with higher quantities of high-grade zinc and lead than C3.
Phase 2 of the drilling campaign is ongoing, with approximately 16,000 meters of diamond drilling and 1,500 meters of reverse circulation (RC) drilling completed (at the end of 2022). Further testing will continue the program of drilling at C1 and C3, targeting significant extensions along strike and at depth to the high-grade VMS mineralization, with an updated MRE planned over these deposits for 2023. The company owns 80 percent of the district, which facilitates future exploration campaigns to discover additional deposits, with added support through a robust local infrastructure alongside strong political and community backing.
Drilling results identified 20 new prospects that will be systematically tested over the coming year, with the intention of confirming the Palma Project as a new VMS camp essential in global sources of copper, zinc, lead, silver and gold.
Regional geology and tenement holdings for Alvo's Palma project area - Afla Project area in red hash
Alvo has signed a binding earn-in agreement on the highly prospective Alfa Cu/Zn Project with Afla Investimentos E Participações Ltda. The agreement further consolidates the broader Palma VMS belt. The Afla Project was partially covered by a VTEM survey, and multiple conductors have been identified which appear similar to conductors that host significant VMS mineralization at Palma. The earn-in transaction has no upfront cash payments and will utilize Alvo’s existing exploration team to deliver 1,000 meters of diamond drilling within 18 months of the agreement to earn the initial 60 percent of the project. The company can earn up to 100 percent of the project depending on additional exploration and contract milestones.
Alvo Minerals is led by a management team with robust exploration and mining experience in Brazil and around the world. Graeme Slattery, Alvo’s non-executive chairman, has extensive experience dealing with foreign jurisdictions and regulatory issues. Managing director Rob Smakman is a geologist with over 25 years of international experience highlighted by having successfully founded and listed Crusader Resources and initiated the company’s Brazilian entry and operations.
Company Highlights
- Alvo Minerals is an exploration and development company with a district-scale project in Tocantins and Goias states, central Brazil.
- Historic exploration programs have indicated high-grade copper-zinc deposits containing lead and silver. These results were confirmed in the 2012 JORC resource estimate that indicated 4.6 million tonnes @ 1 percent copper, 3.9 percent zinc, 0.4 percent lead, 20 grams per ton (g/t) silver.
- Alvo has acquired mineral rights over multiple areas covering more than 850 square kilometers, including more than 70 kilometers of strike covering the prospective geological sequence.
- Alvo completed 15,697 meters of diamond drilling and 1,467 meters of reverse circulation drilling at the Palma project up to the end of 2022, with an updated MRE expected in 2023.
- Palma is surrounded by active mines, including Lundin Mining’s Chapada copper-gold mine and Serra Verde’s rare earth elements (REE) project. There are also major nickel (Anglo American), gold, bauxite and phosphate operating mines within the district.
- The Palma project has excellent infrastructure including abundant hydroelectric power and strong community and political support.
- An experienced management team leads the company with the right equipment and funding to fully capitalize on its promising district-scale opportunity.
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District-Scale Copper-Zinc VMS Project in Brazil
13h
Nine Mile samples up to 18.27% Cu at Wedge
NINE MILE METALS ANNOUNCES XRF HIGH-GRADE RESULTS UP TO 18.27% COPPER FROM THE UPCOMING DRILL AREA AT THE WEDGE PROJECT, BATHURST, NEW BRUNSWICK
Nine Mile Metals Ltd. has released XRF (X-ray fluorescence) results for volcanogenic massive sulphide (VMS) mineralization grab samples collected from the coming drill area on the Wedge VMS project in the world-famous Bathurst mining camp (BMC) in New Brunswick, Canada. Discovered in 1956, Cominco operated the Wedge mine between 1962 and 1968, producing 1.5 million tonnes of predominantly copper ore. At the time of closure (head pillar collapsed), only the upper portion of the deposit was mined. The expectation is that the lower 60 per cent plus remains untouched based upon recent drill testing and extends at depth with the 3-D modelling.
As previously reported, the Cominco drill data were acquired by Nine Mile and formatted to facilitate modelling. With the addition of Mike Dufresne, MSc, PGeol, PGeo, of Apex Geoscience Ltd. to the technical advisory committee, the company provided the technical database to Apex for 3-D modelling and drill hole targeting. Data provided included all historic drill holes and assays in addition to the recent successful drilling conducted by Nine Mile. To further assist in targeting, the UAV (unmanned aerial vehicle) magnetics and borehole electromagnetic (BHEM) data collected by EarthEx Geophysical Solutions Inc. was integrated into the modelling in addition to the initial, reprocessed MegaTEM conductivity interpretation that highlighted the Wedge and the Wedge VMS trend.
At the Wedge mine's western extension (Target 2), modelling has focused on the unmined portions of the deposit with drill holes targeting a copper-rich lens to the west and the unexplored depth extension below 150 metres, where recent drilling and historical cross-sections indicate mineralization occurring to a minimum depth of 300 metres. Apex is designing a sequence of drill holes to test the seven modelled TDEM (time-domain electromagnetic) conductivity plates adjacent to the Tribag VMS occurrence identified by EarthEx (Target 3).
In preparation for drilling, prospecting was conducted at surface in an area proximal to the proposed drill collars along the western flank of the Wedge mine stepping out to test the expansion westward of the mine footprint. A total of 19 samples were catalogued, photographed, and then analyzed with a portable X-ray fluorescence (XRF) instrument utilizing an Olympus Vanta 50 portable 50-kilovolt workstation and Reflex XRF software to provide instant real-time geochemical information. Each sample was analyzed in three separate locations and the results averaged by the Reflex XRF software. The XRF process included calibrating the machine and utilizing two standards in the sample stream (OREAS622 and CDN-BL-10) twice during analysis. The results are presented in Table 1. The samples have been forwarded to ALS Global in Moncton, N.B., for preparation, with final geochemical analysis conducted in Vancouver, B.C.
Highlights:
- Samples were massive VMS (copper-lead-zinc) mineralization collected at the coming Wedge drill area.
- The samples were weathered and predominantly copper rich with minor lead/zinc.
- Most samples consisted of 90 per cent plus sulphides and minor quartz and accessory minerals.
Samples 280370 and 280375 are examples of the massive high-grade cooper sulphide mineralization. The samples were collected in the area immediately to the northeast of proposed drill holes 25WG-01 and 25WD-02.
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Mr. Dufresne, Apex's president and an independent consultant and technical adviser, commented that these high-quality conductivity targets at the Wedge mine's western extension and TriBag target line up with the horizons that have yielded high-quality VMS drill intersections at the Main Wedge deposit and, based upon the modelling to date, could provide some new exciting discoveries for Nine Mile with the planned drilling.
Gary Lohman, PGeo, vice-president, exploration, stated: "With the provincial-wide fire ban lifted and Apex Geoscience's 3-D modelling complete, the team is looking forward to drilling at the Wedge mine's western extension. With the assistance of Apex, two main zones of mineralization have been identified, one copper rich and another primarily lead/zinc. Targeting has been refined by leveraging the extensive geological and geophysical data (including recent borehole EM and plate modelling), allowing us to prioritize copper mineralization in the upcoming program. This western extension area is the high-grade section of the deposit focused on the copper-rich lens. These massive sulphide samples clearly demonstrate the potential of this untapped area at depth. We are building on last year's new eastern extension successes with our eight VMS drill holes with results of 136.31 metres of 0.68 per cent copper equivalent, including 40 metres of 2.03 per cent copper equivalent (see news release [dated March 26, 2024]). A key aspect here is testing this deposit at depth and how far it extends westward resulting in additional new tonnage."
Qualified person
The technical content of this news release pertaining to the Wedge project was reviewed and approved by Mr. Lohman, a non-independent qualified person as defined by National Instrument 43-101.
About Nine Mile Metals Ltd.
Nine Mile Metals is a Canadian public mineral exploration company focused on VMS (copper, lead, zinc, silver and gold) exploration in the world-famous Bathurst mining camp in New Brunswick, Canada. The company's primary business objective is to explore its four VMS projects: the Nine Mile Brook VMS project, the California Lake VMS project, the Canoe Landing Lake (East West) project and the Wedge VMS project. The company is focused on exploration of minerals for technology, positioning for the boom in EV (electric vehicle) and green technologies requiring copper, silver, lead and zinc with a hedge with gold.
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17h
Empire Metals Limited Announces Appointment of Marketing Manager
Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQX-traded resource exploration and development company, is pleased to announce the appointment of a Marketing Manager, a key role which, along with Empire's partnership with titanium marketing experts, TiPMC Consulting, strengthens the in-house marketing and product development team and supports the rapid advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.
Key Points
- Appointment of Marketing Manager, Michael Tamlin, to lead product strategy and end-user engagement.
- Partnership with TiPMC Consulting extended, providing strategic titanium market insights.
- Bulk metallurgical testwork progressing well, producing concentrate for downstream processing and larger product samples for end-user evaluation.
Appointment of Marketing Managerto Accelerate Product Development
Empire has appointed Mr. Michael Tamlin as Marketing Manager, which is aligned with the Company's objective to optimise product development, assess commercial process flowsheet options and progress the Project toward a feasibility study.
Further strengthening the Company's in-house product development capabilities. Mr. Tamlin is a metallurgist with over 30 years' experience in the resources sector, including senior roles in marketing and commercialising mineral products. Most recently, he served as Head of Lithium at Neometals Ltd, where he was responsible for managing the pilot development and commercialisation of the ELi™ lithium hydroxide production process in joint venture with Mineral Resources Ltd. His expertise will be instrumental in building Pitfield's product strategy and engaging with potential end-users in high-value titanium markets.
Continuing Partnership with TiPMC Consulting:
Empire has extended its consultancy agreement with TiPMC, a highly respected, US-based titanium industry consultancy. TiPMC will provide oversight of the titanium pigment and metal markets and provide guidance to the Company's technical and marketing team as they continue to develop the processing flowsheet and optimise the products.
Commenting on the announcement, Shaun Bunn, Managing Director, said:
"I am delighted to welcome Michael to our team. His extensive marketing expertise will be invaluable as we move toward defining the economic potential and product strategy for Pitfield. This appointment marks an important next step towards building a strong, in-house team, an approach which has been key to our successful and rapid progress.
"We are also very pleased to continue to be working with TiPMC Consulting, whose reputation and experience in the titanium industry is unparalleled."
Product Development Update
Initial results from the large-scale metallurgical testwork programme, involving mineral separation techniques that required bulk feed samples of between approximately 0.5 to 1.5 tonnes each, was announced on 28 August 2025. The bulk testwork programme is progressing well, focusing on ore scrubbing, desliming and gravity spiral testwork, as well as flotation testwork on both the fines fraction, separated in the desliming step, and whole of ore samples. Large scale scrubbing and spiral gravity testwork has been completed on Thomas and Cosgrove weathered sandstone bulk samples and the screened fines have been sent for flotation testwork. As part of this programme, mineral concentrates will be produced for downstream processing, testing both hydrometallurgical and product finishing flowsheet concepts.
This bulk testwork programme will produce significant volumes of concentrates which will feed into the product development and optimisation testwork and result in larger product samples which can be delivered to potential end users for assessment. The role of Marketing Manager will be fundamental to identifying these potential end users and for the development of a high value customer base for a variety of titanium products from Pitfield.
The Marketing Manager will also be responsible for conducting market research, focusing on high value end uses and likely consumers, preparing a Marketing Strategy and Marketing Presentation for the Project and for identifying key customers and suitable product suites in advance of sending out marketing enquiries and product samples.
About TiPMC Consulting
TiPMC Consulting provides independent consulting analyses, perspectives and recommendations for financial as well as industry functions and segments. Their expertise includes thorough reviews of business data as well as the operational, technical, and marketing functionalities for mining, metals, pigments, and chemical industry segments.
Their industry clients recognize the value of their incisive focus on the TiO2 value chain as well as associated businesses, including thorough reviews of fluorochemicals, fluoropolymers, titanium metal and alloys, costings, and other industries associated with the titanium value chain.
The Pitfield Titanium Project
Located within the Mid-West region of Western Australia, near the northern wheatbelt town of Three Springs, the Pitfield titanium project lies 313km north of Perth and 156km southeast of Geraldton, the Mid West region's capital and major port. Western Australia is a Tier 1 mining jurisdiction and has mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines (refer Figure 2).
Figure 2. Pitfield Project Location showing theMid-West Region Infrastructure and Services.
Competent Person Statement
The scientific and technical information in this report that relates to process metallurgy is based on information reviewed by Ms Narelle Marriott, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Ms Marriott is a member of the AusIMM and has sufficient experience 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 JORC Code 2012. Ms. Marriott consents to the inclusion in this announcement of the matters based on their information in the form and context in which it appears.
The technical information in this report that relates to the geology and exploration of the Pitfield Project has been compiled by Mr Andrew Faragher, an employee of Empire Metals Australia Pty Ltd, a wholly owned subsidiary of Empire. Mr. Faragher is a member of the AusIMM and 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 JORC Code 2012. 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.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE,OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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17h
Empire Metals Limited Announces Director/PDMR Shareholding
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF),the AIM-quoted resource exploration and development company, announces that it was notified today that Mr Shaun Bunn, Managing Director, purchased 40,000 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") at a price of 36.25 pence each.
Following this purchase, Mr Bunn's total beneficial ownership in the Company is 2,251,111 Ordinary Shares representing 0.32% of the Company's issued share capital.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listedand OTCQX-traded exploration and resource development company (LON: EEE,OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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16 September
Empire Metals Limited Announces Company Update
The Board of Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the resource exploration and development company, would like to respond to recent sharp decline in the Company's share price and would like to clarify that there has been no material change to the Company's operational or financial position to account for this movement. The Board remains confident in the Company's strategy, the progress being made at the Pitfield Titanium Project and the long-term value proposition for shareholders.
Empire continues to advance technical and commercial workstreams to unlock the Project's full potential and will update the market in due course on further developments. The Company is well funded to achieve upcoming milestones, underpinned by £4.5m fundraising in Q2 2025 and as at 30 June 2025 the Company's cash position was £6.3m.
Overview
- Maiden Mineral Resource Estimate on track for release in October 2025.
- The maiden MRE will provide a platform for mine scoping studies.
- Expanded metallurgical testwork and optimisation programmes are underway, leading to continuous pilot-scale operations.
Shaun Bunn, Managing Director, commented:
"Empire has achieved exceptional progress at Pitfield in a very short time and its operational trajectory continues to impress. The combination of outstanding drill results, breakthrough metallurgy, and further injection of capital in May has transformed the Company. These fundamentals remain unchanged and continue to strengthen. Pitfield is now firmly established as a project of global significance, with a unique combination of scale, grade and processing simplicity that sets it apart from other titanium projects worldwide.
"We look forward to sharing further milestones in the coming weeks as we add further tangible value to the Company through the delineation of a maiden MRE at Pitfield."
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE, OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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16 September
High-Grade Copper-Gold Extensions at Nugent
Hillgrove Resources Limited (Hillgrove) (ASX:HGO) is pleased to provide the following drilling update from the Kanmantoo Copper Mine. The Nugent drilling program from the 1010 Diamond Drill Site and the 1040 Nugent Drill Site has been completed and delivered excellent results which improve the understanding of the Nugent orebody in preparation for first production. These results have increased the Gold endowment and improved knowledge of the Copper-Gold distribution.
High Grade Copper-Gold mineralisation extensions discovered during extensional and infill drilling at Nugent, with multiple outstanding intersections returned, including:
- 21m @ 0.85% Cu + 0.98g/t Au from 136m downhole in 25KVUG0653
- 15m @ 0.91% Cu + 0.29g/t Au from 161m downhole in 25KVUG0653
- 11.5m @ 0.99% Cu + 0.79g/t Au from 145.5m downhole in 25KVUG0543
- Including 4m @ 1.93% Cu +1.14g/t Au from 153m
- 8m @ 0.85% Cu + 0.36g/t Au from 177m downhole in 25KVUG0555
- 5m @ 1.43% Cu + 0.34g/t Au from 194m downhole in 25KVUG0555
- 3m @ 0.98% Cu + 0.99g/t Au from 171m downhole in 25KVUG0559
- 4m @ 0.76% Cu + 0.46g/t Au from 177m downhole in 25KVUG0559
Figure 1: Plan View of drilling showing the high Gold grades intersected at the Southern end of Nugent against the 2024 MRE sliced at the 1020 metre RL displaying Gold grades.
Commenting on the drilling results, Hillgrove CEO and Managing Director, Bob Fulker said:
“It is encouraging that each time we test a geological theory we continue to identify additional mineralisation and gain a better understanding of the controls on mineralisation. These results are very exciting, as they provide a greater understanding of the Gold distribution throughout Nugent. It was previously thought that the Southern extent of Nugent had lower Gold grade, based on previous drilling, but these results show this is not the case.
It is also pleasing that as we drill beyond our current understanding of the Nugent ore body, we continue to encounter an expanding alteration corridor with Copper and Gold mineralisation within it. The Nugent 1020 Southern Ore Drive will commence stoping in the December quarter this year.”
Figure 2: View towards the east showing the high Copper grades intersected at the Southern end of Nugent against the 2024 MRE displaying Copper Grades
The Nugent drilling completed to date has targeted resource definition, with the focus shifting in recent weeks to grade control as first Nugent production draws closer. The recent assays from the 1010 diamond drill site have a dual purpose of both grade control and resource definition, with the results sitting further south-west than previously identified from resource drilling at surface. The high-grade intersections include 21metres @ 0.85% Cu and 0.98g/t Au (uncut) from 136 metres downhole in 25KVUG0653 and 11.5 metres @ 0.99% Cu & 0.79g/t Au (uncut) from 145.5 metres downhole in 25KVUG0543. These results improve the understanding of high-grade geometry and interaction of the Copper and Gold bearing fluids in the alteration corridor.
Drilling is ongoing for both stope definition and resource expansion throughout the Kanmantoo system, with upcoming Nugent drilling planned to target the northern end of the 1020 level. This will provide input into future planning alongside operational requirements for stope and development designs. Drilling is currently underway from the 1010 diamond drill site targeting Emily Star, with initial results pending.
Figure 1 above details the location of significant intersections relating to the current 2024 Kanmantoo Mineral Resource Estimate1 gold values, with gold results displayed for the drilling results. The full list of significant intersections is included in Table 1 below. Figure 2 above details a section view of drilling results showing the Copper results against the 2024 Kanmantoo Mineral Resource Estimate1 Copper values.
Drilling from underground remains on track to achieve the target of 60,000 metres by the end of the calendar year. August delivered 8,114.6 metres of diamond drilling, which is a record for the company to date. Year-to-date, a total of 42,816.2 metres has been drilled. An updated Resource estimation will be released in the December quarter 2025 inclusive of drilling results up to mid-August.
Click here for the full ASX Release
This article includes content from Hillgrove Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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12 September
Empire Metals Limited Announces Director/PDMR Shareholding
Empire Metals Limited / LON:EEE / Sector: Natural Resources - Empire Metals Limited ("Empire" or the "Company")
Director Dealing
Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the AIM-quoted resource exploration and development company, announces that it was notified today that Mr Greg Kuenzel, Finance Director, purchased 111,091 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") at a price of 45 pence each.
Following this purchase, Mr Kuenzel's total beneficial ownership in the Company is 3,969,669 Ordinary Shares representing 0.57% of the Company's issued share capital.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQX-traded exploration and resource development company (LON: EEE, OTCQX: EPMLF) with a primary focus on developing Pitfield, an emerging giant titanium project in Western Australia.
The high-grade titanium discovery at Pitfield is of unprecedented scale, with airborne surveys identifying a massive, coincident gravity and magnetics anomaly extending over 40km by 8km by 5km deep. Drill results have indicated excellent continuity in grades and consistency of the in-situ mineralised beds and confirm that the sandstone beds hold the higher-grade titanium dioxide (TiO₂) values within the interbedded succession of sandstones, siltstones and conglomerates. The Company is focused on two key prospects (Cosgrove and Thomas), which have been identified as having thick, high-grade, near-surface, in-situ bedded TiO₂ mineralisation, each being over 7km in strike length.
An Exploration Target* for Pitfield was declared in 2024, covering the Thomas and Cosgrove mineral prospects, and was estimated to contain between 26.4 to 32.2 billion tonnes with a grade range of 4.5 to 5.5% TiO2. Included within the total Exploration Target* is a subset that covers the in-situ weathered sandstone zone, which extends from surface to an average vertical depth of 30m to 40m and is estimated to contain between 4.0 to 4.9 billion tonnes with a grade range of 4.8 to 5.9% TiO2.
The Exploration Target* covers an area less than 20% of the overall mineral system at Pitfield which demonstrates the potential for significant further upside.
Empire is now accelerating the economic development of Pitfield, with a vision to produce a high-value titanium metal or pigment quality product at Pitfield, to realise the full value potential of this exceptional deposit.
The Company also has two further exploration projects in Australia; the Eclipse Project and the Walton Project in Western Australia, in addition to three precious metals projects located in a historically high-grade gold producing region of Austria.
*The potential quantity and grade of the Exploration Target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. See RNS dated 12 June 2024 for full details.
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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