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Empire Metals Limited (LON:EEE)(OTCQB:EPMLF),the AIM-listed and OTCQB-traded resource exploration and development company,is pleased to announce highly successful results from its recently completed Air Core ('AC') drilling programme at the Pitfield Project in Western Australia ('Pitfield').
This latest phase of drilling has further defined widespread and continuous, high-grade titanium dioxide ('TiO₂') mineralisation within the in-situ weathered cap, extending from surface to depths of over 50 metres. These results represent the next step in developing a globally significant titanium resource at Pitfield whilst also delivering significant bulk sample material for further processing testwork.
Highlights
- 85 AC holes drilled over 4,437m, with 43 holes at Thomas and 42 holes at Cosgrove Prospects.
- Broad, continuous, high-grade zones identified in every hole, with an average weathered interval grade of 5.77% TiO₂.
- Standout intercepts include:
- 60m @ 6.30% TiO₂ from surface (AC25COS001)
- 56m @ 7.15% TiO₂ from surface (AC25COS042)
- 51m @ 7.88% TiO₂ from surface (AC25TOM039)
- 57m @ 7.48% TiO₂ from surface (AC25TOM040)
- 52m @ 7.43% TiO₂ from surface (AC25TOM042)
- Cosgrove Prospect revealed multiple zones exceeding 10% TiO₂, including 14m @ 11.66% TiO₂ from 2m depth.
- Thomas Prospect continues to impress with intercepts including 49m @ 7.49% TiO₂ and rich internal zones up to 11.67% TiO₂.
This campaign not only delivered over 70 tonnes of metallurgical bulk samples but also produced analytical data that will directly inform the planning of a maiden JORC-compliant Mineral Resource Estimate, targeted for Q3 2025.
Total drilling at Pitfield has surpassed 22,000m across 202 holes, providing a robust geological foundation ahead of resource definition.
Shaun Bunn, Managing Director, said:"These exceptional results demonstrate the sheer scale and quality of titanium mineralisation at Pitfield. The consistency of high-grade intervals from near-surface, along with the depth and continuity of weathering, has surpassed our expectations. The bulk samples will now feed directly into upscaled metallurgical testwork aimed at fast-tracking product development."
AC Drill Results Summary
The drilling campaign consisted of 85 AC drillholes for a total 4,437m drilled, that both tested the extent of, and bulk sampled, the high-grade zones of titanium mineralisation that were previously discovered within the strongly weathered cap covering this giant, titanium-rich mineral system.
The drilling focused on areas within the Thomas and Cosgrove Prospects. These areas contained thick, highly weathered in-situ zones of high-grade titanium mineralisation, previously identified from reverse circulation ('RC') and diamond drillholes ('DD'). The total combined drilling covered an area over 60 hectares, on a 100m by 100m grid, with the following key results:
Thomas Prospect:
- 43 AC drill holes for a total 2,326m, drilled
- Average hole depth of 54.1m
- Average grade of 6.20% TiO2 from 1,148 samples
Cosgrove Prospect:
- 42 AC drill holes for a total 2,111m drilled
- Average hole depth of 50.3m
- Average grade of 5.34% TiO2 from 1,060 samples
Two drill holes at each prospect were "twin holes", designed to validate the geological and assay data quality of the AC drill holes, focusing on the weathered portion of three existing RC drillholes and one diamond core drill hole located within the target areas.
The drill programme confirmed thick, strongly weathered zones of high-grade titanium mineralisation of between 7% and 10% TiO2 at both the Thomas and Cosgrove Prospects, with assays peaking up to 18% (refer Table 1). Importantly, all drill holes confirmed continuous mineralisation, with an average grade of 5.79% TiO2 from 2,208 samples.
Table 1: Significant intercepts from February 2025 AC Drilling
Pitfield Project Combined Drilling Summary 2023-2025
The Company completed its maiden reconnaissance drilling programme at the Pitfield Project in early 2023 (announced 24 April 2023), which consisted of 21 RC drill holes focused mainly to the north of the giant mineral system, near Mt Scratch. The Company executed two further drill campaigns in late 2023, a three-hole DD drill programme, which confirmed the mineralisation to a depth of over 350m below surface (announced 20 November 2023) and a 40-hole RC drill programme which confirmed the high-grade, near surface mineralisation at what is now referred to as the Thomas and Cosgrove Prospects (announced 22 January 2024).
Further RC and DD campaigns were carried out in early 2024, which identified the much higher grade, in-situ weathered cap and confirmed the presence of clean, titanium dioxide minerals (anatase and rutile) which occur as a result of the natural weathering of the interbedded in-situ sediments near surface (announced 5 June 2024). A subsequent DD drilling campaign (announced 24 October 2024) encountered extensive weathered zones from very near surface to depths of around 60 metres, nearly double that previous encountered at the Cosgrove and Thomas prospects, confirming the extremely soft and friable nature of the bedded sandstones in this weathered zone.
With the successful completion of the recent 85-hole AC drilling campaign the total exploration drilling completed at the Pitfield Project now stands at:
Figure 1 below shows all the prior drill holes across the mineralised system and the recent AC drilling at the high-grade target areas within the Cosgrove and Thomas Prospects.
Figure 1. Pitfield Project Drill Hole Collar Location
February 2025 AC Drilling Programme
Cosgrove Prospect
Drilling at Cosgrove was focused on a priority area off approximately 500m by 600m (refer Figure 2).
The weathered zone interval width from this drill programme confirmed previous drilling in the area, however the average TiO2 grades for each drill hole were higher than any prior programme.
There are broad zones of high-grade mineralisation over the weathered zone, for example 60m at 6.30% TiO2 from surface [AC25COS001] and 56m @ 7.15% TiO2 from surface [AC25COS042]. The depth of weathering of the Cosgrove drill area was shown to be on average 50.1m and contains very high-grade intervals of mineralisation of up to 18% TiO2.
There are broad zones of high-grade mineralisation close to surface, for example 14m at 11.66% TiO2 from 2m [AC25COS036] and 18m at 10.00% TiO2 from 10m [AC25COS036].
All 42 drill holes confirmed the continuity of high-grade TiO2 mineralisation, with total hole average grades ranging from 3.48% to 7.15% TiO2. The overall average grade from the 1,060 assayed samples is 5.34% TiO2.
Figure 2. Air Core drillhole collar locations within the Cosgrove Prospect priority area.
Thomas Prospect
Drilling at Thomas was focused on a priority area of approximately 300m by 1,000m (refer Figure 3).
The depth of weathering at Thomas was consistently deeper than that encountered at Cosgrove, with the deepest AC drill hole reaching 66m from surface.
There are broad zones of high-grade mineralisation over the weathered zone, for example 57m @ 7.48% TiO2 from surface [AC25TOM040] and 49m @ 7.49% TiO2 from surface [AC25TOM021]. There are broad zones of high-grade mineralisation close to surface, for example 16m at 10.00% TiO2 from 6m [AC25TOM040] and 14m at 10.06% TiO2 from 4m [AC25TOM041].
All 43 drill holes confirmed the continuity of high-grade TiO2 mineralisation, with total hole average grades ranging from 4.41% to 7.88% TiO2. The overall average grade from the 1,148 assayed samples is 6.20% TiO2.
Figure 3. Air Core drill hole collar locations within the Thomas Prospect priority area.
Next Steps:
Acceleration of Mineral Resource Estimate ('MRE') Drill Programme
Based on the highly encouraging AC drill campaign results the Company is planning an enlarged programme of works at the Thomas and Cosgrove Prospects. Results from the AC, RC and DD drilling indicate the potential for a significant mineral resource at both prospects. The strategic importance of a resource for Empire Metals is significant for the company moving forward with the project. As such planning has begun on generating a MRE, which will include RC and AC drilling, with the drilling focused on a significantly expanded target area.
Interpretation of the drilling data highlights the Thomas Prospect as the best place to drill the initial resource due to the better consistency of geology and grade with thicker zones of weathering. A second phase of drilling will be planned in late 2025 to drill a resource at the Cosgrove prospect.
Metallurgical Test Programme
The broad zones of high-grade mineralisation encountered at or near surface within the in-situ weathered cap have been shown to hold the highest percentage of the most important titanium bearing minerals, anatase and rutile, and these will form the primary feedstock for the upscaled metallurgical test work programme.
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 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. Pitfield 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 4).
Figure 4. Pitfield Project Location showing the Mid-West Region Infrastructure and Services
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 Empire Metals Australia 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 or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) 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 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, 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 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.
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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Empire Metals
Investor Insight
Empire Metals (OTCQB:EPMLF, AIM:EEE) is unlocking one of the world’s largest and purest titanium deposits at its flagship Pitfield project in Western Australia. With growing global demand, a looming supply deficit, and near-term development milestones, Empire offers a compelling investment opportunity in the critical minerals space.
Overview
Empire Metals (OTCQB:EPMLF, AIM:EEE) is an Australian focused exploration and resource development company rapidly gaining international attention for its discovery and rapid development of what is believed to be the world’s largest titanium deposit.
The company is focused on advancing its flagship asset, the Pitfield project, located in Western Australia, a tier 1 mining jurisdiction. With a dominant landholding of more than 1,000 sq km, and a titanium mineral system that spans 40 km in strike length, Pitfield is emerging as a district-scale “giant” discovery with the potential to reshape the global titanium supply landscape.
Empire’s strategic focus on titanium comes at a pivotal time. Titanium is officially recognized as a critical mineral by both the European Union and the United States, owing to its essential role in aerospace, defense, medical technologies, clean energy and high-performance industrial applications. Global demand for titanium dioxide — the most widely used form of titanium — is surging due to its unmatched properties as a pigment and as a feedstock for titanium metal. Titanium supply chains are also increasingly being constrained by geopolitical risks, mine depletion and environmental challenges associated with traditional production. More than 60 percent of the global supply chain is currently concentrated in a handful of countries, notably China and Russia, creating significant vulnerabilities for Western markets.
Titanium has been designated as a critical mineral in both the EU and the US.
Against this backdrop, Empire Metals offers investors a compelling opportunity to gain exposure to a strategically vital metal through a large-scale, high-grade and clean titanium discovery. Unlike many traditional titanium sources, Pitfield's mineralization is exceptionally pure — free from detrimental amounts of uranium, thorium, chromium and other contaminants — making it ideally suited for premium, high-purity end markets. Furthermore, the mineralized zone is near-surface and laterally extensive, allowing for low-strip and scalable bulk mining with conventional processing technologies.
With more than 22,000 meters of drilling already completed and only a fraction of the mineral system tested, Empire is aggressively advancing Pitfield towards a maiden JORC-compliant mineral resource estimate, targeted for H2-2025. Alongside this work, the company is also undertaking bulk sampling and metallurgical processing to advance flowsheet design and optimize product specifications. It is also engaging with industry players to assess product suitability for premium pigment and titanium sponge markets. Empire is planning to finalize, during the current calendar year, a mining study to evaluate the potential for a low-cost strip mining approach, utilizing continuous mining techniques.
The company is supported by a seasoned leadership team with deep expertise in exploration, resource development, mining, metallurgy and capital markets — ensuring that strategic decisions are guided by both technical excellence and a strong track record of value creation.
Company Highlights
- The flagship Pitfield project is the world’s largest known titanium discovery. It’s a district-scale “giant” titanium mineral system, characterised by high-grade, high-purity titanium mineralisation exhibiting exceptional continuity.
- Titanium is in a global supply deficit and recognized as a critical mineral by the EU and US.
- Drill intercepts at Pitfield include up to 202 meters at 6.32 percent titanium dioxide (TiO2) from surface, confirming vast scale and grade.
- Empire Metals operates in one of the world’s most secure, mining-friendly jurisdictions: Western Australia.
- The company is led by an experienced, agile team, with proven expertise in exploration, mine development, and value creation across multiple commodities.
- With a number of key development catalysts planned for 2025, including a maiden resource estimate, bulk sampling for scale-up of metallurgical testwork, and product optimisation, Empire remains significantly undervalued relative to its peers.
Key Projects
Pitfield Project – A World-Class Titanium Discovery
Located in Western Australia, the Pitfield project is Empire Metals’ flagship asset and represents one of the most exciting titanium discoveries globally. Spanning an area of approximately 1,042 sq km, the project has revealed a colossal mineral system measuring 40 km in length and up to 8 km in width, with geophysical indications of mineralization extending to at least a depth of 5 km.
Pitfield’s prime location in Western Australia
Extensive drilling across the project has intercepted thick, laterally continuous zones of high-grade titanium dioxide mineralization, highlighting the system’s enormous scale and consistency.
The titanium at Pitfield occurs predominantly in the minerals anatase and rutile within a weathered, in-situ cap that begins at surface. These minerals are exceptionally pure, often exceeding 90 percent titanium dioxide. They are free from harmful amounts of contaminants like uranium, thorium, chromium and phosphorus — qualities that are likely to make the deposit uniquely suitable for premium, high-purity titanium applications in aerospace, defense and clean technologies.
Pitfield is strategically located near the town of Three Springs, approximately 150 km southeast of the port city of Geraldton. The project benefits from direct access to essential infrastructure, including sealed highways, rail lines and an available water supply. This connectivity significantly enhances development potential by reducing logistics costs and simplifying future project build-out. Moreover, the Western Australian government actively supports critical mineral development, and Empire is operating within a stable, mining-friendly jurisdiction known for streamlined permitting and investment security.
Empire has completed more than 22,000 meters of drilling, confirming standout titanium dioxide (TiO2) results such as 154 meters at 6.76 percent TiO2, 148 meters at 6.49 percent TiO2, and 150 meters at 6.44 percent TiO2. Notably, mineralization remains open at depth in all tested zones, and to date, only around 5 percent of the interpreted system has been drilled. This underscores the immense upside potential for resource expansion.
The project’s development advantages are equally compelling: the mineralization is near-surface and amenable to simple, bulk mining methods with conventional processing. Its location in a tier-one mining jurisdiction offers access to infrastructure, a skilled workforce and strong regulatory support.
The Pitfield project presents a scalable processing pathway. Photo shows a gravity flotation test in process (left) and a close-up of a flotation test (right)
Pitfield is advancing toward a maiden JORC-compliant mineral resource estimate, expected by H2-2025. The project is already being recognized as a potential cornerstone asset in the global titanium supply chain.
Other Projects
In addition to Pitfield, Empire Metals maintains a portfolio of early-stage exploration assets offering optionality and exposure to other strategic and precious metals. Empire holds interests in two Western Australian projects — the Walton and Eclipse gold projects — both situated in historically productive mineral belts. While these assets are not the current focus, they contribute exploration upside and optionality within the company’s broader strategy.
Board and Management Team
Neil O’Brien - Non-executive Chairman
Neil O’Brien is the former SVP exploration and new business development at Lundin
Mining, until he retired in 2018. He has an extensive global mining career as a PhD economic geologist, exploration leader and board executive.
Shaun Bunn - Managing Director
Shaun Bunn is a metallurgist based in Perth, Western Australia, with expertise in international exploration, mining, processing and development. He has a successful track record managing mining projects through all stages of development.
Greg Kuenzel - Finance Director
Based in London, Greg Kuenzel is a chartered accountant, and corporate finance and financial management expert. He has extensive experience working with resources-focused AIM listed companies.
Peter Damouni - Non-executive Director
With more than 20 years of corporate and finance experience focused in the natural resources sector, Peter Damouni holds executive and director roles in TSXV and LSE listed companies where he has played key roles in significantly enhancing shareholder value.
Phil Brumit - Non-executive Director
Phil Brumit is a veteran mining engineer and operations expert, delivering major global operations. His previous roles include international leadership positions at Freeport-McMoRan, Lundin Mining and Newmont Corporation.
Narelle Marriott - Process Development Manager
Narelle Marriott is a former BHP senior process engineer. Most recently, she was the general manager for process development for Hastings Technology Metals.
Andrew Faragher - Exploration Manager
Andrew Faragher is a former Rio Tinto exploration manager with more than 25 years of experience working across multiple commodities.
Arabella Burwell - Corporate Development
Arabella Burwell is a former Senior Director Corporate Development at NASDAQ-listed GoDaddy and a Partner, Capital Raising and Strategic Partnerships, at Hannam & Partners in London and South Africa.
Carrie Pritchard – Environmental Manager
Carrie brings over 20 years of international experience in environmental management, project development, regulatory approvals, and impact assessment. Her expertise spans mine closure and reclamation, stakeholder engagement, and the remediation of contaminated sites. She has led projects across Australia (Western Australia and Victoria) and New Zealand and has also contributed to initiatives in Malawi and Greenland.
David Parker – Commercial Manager
David Parker brings over 20 years of experience in equity capital markets, with a strong focus on the mining, industrial, and technology sectors. He has held senior roles as director and company secretary for several ASX-listed companies, providing strategic leadership and commercial oversight across diverse corporate environments.
Advancing a game-changing, globally significant titanium project in Western Australia.
Empire Metals Limited Announces Warrant Exercise
Application for Admission
Application will be made to the London Stock Exchange for the new shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 18 June 2025.
Following Admission of the new shares as described above, the issued share capital of the Company will consist of 690,393,221 ordinary shares of no-par value. 690,393,221 represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed exploration and resource development company (LON: EEE) 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 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, 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 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.
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.
Empire Metals Limited Announces Exceptional High-Purity TiO2 Product Achieved
Empire Metals Limited, the AIM-quoted and OTCQB-traded resource exploration and development company, is pleased to announce the results from its most recent titanium dioxide ("TiO2") product development testwork programme, carried out on mineral flotation concentrates produced from the in-situ mineralised weathered cap that extends across the giant Pitfield Project ('Pitfield'), located in Western Australia.
Highlights
- A very high-purity TiO2 product, assaying at 99.25% TiO2 has been achieved through conventional beneficiation, leaching and refining processes.
- The TiO2 product contains non-detectable, or extremely low levels of deleterious impurities and is expected to be suitable for high-quality titanium sponge metal or high-grade titanium dioxide pigment production.
- Bulk samples collected from the weathered cap (announced 17 February 2025) have been delivered to the metallurgical laboratory and these will be utilised to produce multiple, finished product samples for marketing purposes.
Shaun Bunn, Managing Director, said: "We have achieved an extraordinary outcome from our most recent product development testwork, which has delivered an exceptional high-grade, high-purity TiO2 product that should be ideal for either titanium sponge metal or high-quality TiO2 pigment production.
"It is remarkable that our technical team has so rapidly produced a high-purity TiO₂ product. We believe this not only highlights the effectiveness of our processing approach but also underscores the potential value of our product. Metallurgical testing and process optimisation continues, and with the availability of the 70 tonnes of bulk sample collected in February we will now be able to significantly scale up the testwork and produce a variety of final product samples to share with prospective downstream end-users."
Product Development Testwork
An acid bake-water leach process using sulphuric acid was applied, with parameters similar to that tested during the initial product development test programme (announced 10 March 2025). The TiO2 product purification and product finishing stages were tested at ALS Metallurgy laboratories, located in Perth, Western Australia. All assays were conducted at ALS Metallurgy by their in-house metallurgy-specific assay lab.
The most recent product development metallurgical test work was undertaken on flotation concentrates recovered from the near surface, highly weathered in-situ saprolitic zone. Diamond drill core collected from two holes, DD24TOM004 and DD24TOM005, formed the feed composite (refer Figure 1). The composite sample was passed through a wet scrubber to break up the clays and attrition the ore prior to desliming the resulting slurry over a 38µm screen. The coarse material was fed to a gravity test circuit and the finer fraction (-38µm) was processed via froth flotation. The rougher (first stage) flotation concentrate generated from multiple, repetitive flotation tests were then blended to form the feedstock for a subsequent acid leach stage (refer Figure 2).
Two subsamples of flotation concentrate were leached under the following different conditions:
1. Direct acid bake followed by hot water leach
2. Dilute acid pre-leach followed by direct acid bake and hot water leach.
For both tests iron filings were added to the hot water wash phase to reduce the iron in the ferric (Fe3+) state to the ferrous (Fe2+) state, thus removing the iron from the solution. In this acid leach stage the titanium is recovered from the mineral concentrates into the liquor as titanyl sulphate (TiSO4) and the residue solids and liquor are then separated after the water leach step, using filtration, with the liquor moving forward for purification and product finishing testwork.
The next step in the purification process is the hydrolysis stage, which involves the heating of the liquor, thus breaking down the titanyl sulphate and resulting in the production of hydrated TiO2 and the recovery of H2SO4. This step was carried out in two stages without seed TiO2 material, an improvement from previous work. The solution was heated to 106 degrees C and held at temperature whilst being stirred for 2 hours. The resulting slurry was then centrifuged to separate the liquor from the precipitated solids. Finally, as part of the product finishing stage, the hydrated TiO2 was separated from the liquor using a centrifuge, and the solids were then calcined to remove water and produce a high-purity TiO2 compound (see figure 3).
The final chemical analysis of the TiO2 product indicates a very high purity of 99.25% TiO2 by mass with non-detectable or extremely low amounts of deleterious impurities (see table 1).
Figure 1. Saprolite composite sample before scrubbing/attritioning
.
Figure 2. Flotation test on the saprolite composite slimes fraction
Table 1. Finished Product Analysis
Product Analysis (XRF) | % by mass |
TiO2 | 99.25 |
Al | 0.16 |
Ca | 0.01 |
Fe | 0.09 |
La | <0.01 |
Nd | 0.01 |
Pb | 0.004 |
P | 0.23 |
Si | 0.03 |
Th | <0.001 |
U | <0.001 |
V | 0.01 |
Figure 3. Purification and product finishing testwork, photos from left to right: titanyl sulphate solution from leaching stage, hydrated TiO2 produced from hydrolysis, and the calcined TiO2 product.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 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. Pitfield 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 4).
Figure 4. 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.
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 or contact:
Empire Metals Ltd Shaun Bunn / Greg Kuenzel / Arabella Burwell | Tel: 020 4583 1440 |
S. P. Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl | Tel: 020 3470 0470 |
Shard Capital Partners LLP (Joint Broker) Damon Heath | Tel: 020 7186 9950 |
St Brides Partners Ltd (Financial PR) Susie Geliher / Charlotte Page | Tel: 020 7236 1177 |
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON:EEE)(OTCQB: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.
Click here to connect with Empire Metals (OTCQB:EPMLF, AIM:EEE) to receive an Investor Presentation
Empire Metals Limited Announces Major Drilling Campaign Targeting Maiden MRE
Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQB-traded exploration and development company,is pleased to announce the commencement of a major drilling campaign at the Pitfield Project in Western Australia ('Pitfield' or the 'Project'). This programme will target high-grade titanium mineralisation within the in-situ weathered cap at the Thomas Prospect, with the objective of delivering a maiden JORC Compliant Mineral Resource Estimate ('MRE').
Highlights
- A total of 164 drill holes planned:
- 124 Air Core ('AC') drillholes for approximately 6,700 metres, and
- 40 Reverse Circulation ('RC') drillholes for approximately 4,000 metres,
- totalling 10,700 metres of drilling.
- The Thomas Prospect was selected for the maiden MRE due to the extensive, thick and high-grade titanium mineralisation hosted within the broad, in-situ weathered zone.
- This programme, the largest at Pitfield to date, will cover over 11 square kilometres and aims to deliver a globally significant MRE.
- Notable intercepts within the in-situ weathered cap from previous drilling at Thomas include:
- 51m @ 7.88% TiO₂ from surface (AC25TOM039)
- 57m @ 7.48% TiO₂ from surface (AC25TOM040)
- 52m @ 7.43% TiO₂ from surface (AC25TOM042)
Shaun Bunn, Managing Director, said:"We are pleased to commence this important drilling campaign at Pitfield, focused on delivering our maiden MRE from the Thomas Prospect.The Thomas Prospect contains broad, continuous, high-grade zones of high-purity titanium dioxide mineralisation within the in-situ weathered cap: confirmed by assay results from the February 2025 AC drill campaign, averaging 6.20% TiO₂ over an average depth of 54m (announced 28 April 2025).
"This fully funded campaign, scheduled to run over the next four to five weeks, is the largest undertaken to date at Pitfield. With 164 holes planned over an 11 square kilometre area and to an average depth of 65 metres, this work is designed to deliver a globally significant Mineral Resource Estimate."
MRE Drilling Programme
The location and spacing of the planned AC drillholes have been designed, with the input of mineral resource consultants Snowden-Optiro, to provide the necessary drill assay data density to allow the preparation of an MRE at the Thomas Prospect. The programme consists of 124 AC drillholes, on a 400 x 200m drillhole-spaced grid with an average forecast depth of 54.1m, for a total of 6,700 metres, and 40 RC drillholes within the AC drilling grid, to a depth of 100m, for a total of 4,000 metres. The overall drillhole grid extends 5.2km by 2.2km and totals an area of 11.4 sq km (refer Figure 1).
The drilling is targeting the near surface, highly weathered zones within the Thomas Prospect; drilling has now commenced and will run over several weeks, with laboratory analysis scheduled for completion in August.
Figure 1. Planned Air Core drill hole collar locations within the Thomas Prospect priority area.
The near-surface, in-situ weathered cap at the Thomas Prospect contains a high percentage of the key titanium bearing minerals, primarily anatase and rutile. The drilling targets areas were selected on the basis of three key parameters: high-purity TiO2 mineral assemblage, high average TiO2 grades and significant depth of weathering (refer Table 1).
The AC and RC drillholes will be geologically logged and sub-sampled on 2m intervals and geochemically analysed; this data will provide the basis for geological modelling and for the development of the MRE at the Thomas Prospect.
Air core drilling has previously been utilised at Pitfield to drill-test the weathered cap and collect bulk metallurgical samples (announced 28 April 2025). It is a cost-effective and efficient drilling method that is commonly used for shallow exploration projects and the success of the previous campaign confirmed its suitability for the preparation of the MRE.
Table 1: Weathered Zone drill intercepts from the Thomas Prospect (previously released results) including high-grade intervals to be followed up by MRE drilling
Hole ID | Easting | Northing | Depth From (m) | Depth To (m) | EOH (m) | Weathered Interval (m) | Grade TiO2 (%) |
RC24TOM021 | 373699 | 6724326 | 4 | 76 | 154 | 72 | 6.75 |
including | 4 | 58 | 54 | 6.90 | |||
including | 4 | 12 | 8 | 9.03 | |||
including | 8 | 10 | 2 | 9.98 | |||
RC24TOM022 | 373329 | 6724796 | 0 | 54 | 154 | 54 | 7.02 |
including | 4 | 12 | 8 | 8.54 | |||
RC24TOM023 | 373639 | 6724978 | 0 | 58 | 154 | 58 | 5.68 |
including | 6 | 20 | 14 | 6.09 | |||
DD24TOM006 | 373947 | 6724741 | 0 | 46.5 | 70.5 | 46.5 | 5.94 |
including | 4.5 | 45 | 40.5 | 6.10 | |||
including | 10.5 | 22.5 | 12 | 6.95 | |||
AC25TOM021 | 373250 | 6724746 | 0 | 49 | 49 | 49 | 7.49 |
including | 20 | 26 | 6 | 10.71 | |||
AC25TOM036 | 373358 | 6725089 | 2 | 54 | 54 | 52 | 7.21 |
AC25TOM039 | 373506 | 6724612 | 0 | 51 | 51 | 51 | 7.88 |
AC25TOM040 | 373599 | 6724639 | 0 | 57 | 57 | 57 | 7.48 |
including | 6 | 22 | 16 | 10.00 | |||
AC25TOM041 | 373572 | 6724737 | 0 | 54 | 54 | 54 | 7.19 |
including | 4 | 18 | 14 | 10.06 | |||
including | 4 | 12 | 8 | 11.67 | |||
AC25TOM042 | 373546 | 6724823 | 0 | 52 | 52 | 52 | 7.43 |
including | 4 | 16 | 12 | 10.17 | |||
including | 4 | 12 | 8 | 11.32 |
The Pitfield Titanium Project
Located within the Mid-West region of Western Australia, near the northern wheat belt 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 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. Pitfield 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 2).
Figure 2. Pitfield Project Location showing the Mid-West Region Infrastructure and Services
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 Empire Metals Australia 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 or contact:
Empire Metals Ltd Shaun Bunn / Greg Kuenzel / Arabella Burwell | Tel: 020 4583 1440 |
S. P. Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl | Tel: 020 3470 0470 |
Shard Capital Partners LLP (Joint Broker) Damon Heath | Tel: 020 7186 9950 |
St Brides Partners Ltd (Financial PR) Susie Geliher / Charlotte Page | Tel: 020 7236 1177 |
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) 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 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, 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 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.
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.
Click here to connect with Empire Metals (OTCQB:EPMLF, AIM:EEE) to receive an Investor Presentation
Empire Metals Limited Announces £4.5m Subscription by Institutional Investors
Shaun Bunn, Managing Director, said:"I am pleased to confirm the successful completion of this Subscription, which has increased participation from our institutional shareholders in Asia andAustralia. The Subscription was led by Asian Investment Management Services Ltd, an existing shareholder.
"The continued support from institutional investors highlights the scale and quality of the titanium discovery at Pitfield, and the opportunities that it brings. The additional funds strengthen our balance sheet, increasing our cash position to £7.1 million, and will be deployed to expand the planned drilling programme with the objective of establishing a globally significant Mineral Resource Estimate ('MRE'); progress the bulk metallurgical testwork so as to deliver high-purity TiO2 product samples to end users; and bring forward the commencement of economic studies.
"With momentum building in 2025, Empire is in a strong position to advance Pitfield and capitalise on the global focus on critical minerals such as titanium."
Use of Funds
The proceeds of the Subscription, together with existing cash reserves of £2.6 million, will be primarily used to:
- Expand the Pitfield titanium mineral resource development drilling programme to define a globally significant MRE;
- Appoint additional metallurgical and engineering personnel to accelerate the development of the process flowsheet;
- Upscale the bulk metallurgical testwork to provide high-purity TiO2 product samples to potential end users; and
- Accelerate the commencement of mining studies, well ahead of schedule.
Laboratory testwork results to date have been encouraging and the use of conventional processing techniques has increased management's confidence that the process flowsheet can deliver high-value commercial end products. Development focus now has turned to optimising the various processing steps and commencing mine option studies. Proceeds from this equity placement fully fund the Company through these important, project development workstreams.
Application for Admission and Total Voting Rights
The Subscription Shares will rank pari passu in all respects with the existing ordinary shares of no par value in the capital of the Company. Application has been made to the London Stock Exchange for the Subscription Shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will become effective on or around 30 May 2025. As a result of the issue of the Subscription Shares as described above, the issued share capital of the Company now consists of 689,633,233 ordinary shares of no-par value.
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.com or contact:
About Empire Metals Limited
Empire Metals is an AIM-listed and OTCQB-traded exploration and resource development company (LON: EEE) 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 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, 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 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.
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.
Metals and Mining Virtual Investor Conference: Presentations Now Available for Online Viewing
The company presentations will be available 24/7 for 90 days. Investors, advisors, and analysts may download investor materials from the company's resource section.
Select companies are accepting 1x1 management meeting requests through May 13th.
May 6th
| Presentation | Ticker(s) |
| Northern Superior Resources Inc. | (OTCQB: NSUPF | TSXV: SUP) |
| Luca Mining Corp. | (OTCQX: LUCMF | TSXV: LUCA) |
| Castille Resources Limited | (OTCQB: CLRSF | ASX: CST) |
| Sun Summit Minerals Corp. | (OTCQB: SMREF | TSXV: SMN) |
| Amex Exploration Inc. | (OTCQX: AMXEF | TSXV: AMX) |
| Ucore Rare Metals, Inc. | (OTCQX: UURAF | TSXV: UCU) |
| Kootenay Silver Inc. | (OTCQX: KOOYF | TSXV: KTN) |
| Camino Minerals Corp. | (Pink: CAMZF | TSXV: COR) |
| Precipitate Gold Corp. | (OTCQB: PREIF | TSXV: PRG) |
| Callinex Mines Ltd. | (OTCQX: CLLXF | TSXV: CNX) |
May 7th
| Presentation | Ticker(s) |
| Canada Nickel Company Inc. | (OTCQX: CNIKF| TSXV: CNC) |
| Anfield Energy Inc. | (OTCQB: ANLDF | TSXV: AEC) |
| Newcore Gold Ltd. | (OTCQX: NCAUF | TSXV: NCAU) |
| Empire Metals Ltd. | (OTCQB: EPMLF | AIM: EEE) |
| Cerrado Gold Inc. | (OTCQX: CRDOF | TSXV: CERT) |
| Silver Tiger Metals Inc. | (OTCQX: SLVTF | TSXV: SLVR) |
| Horizon Copper Corp. | (OTCQX: HNCUF | TSXV: HCU) |
| Kodiak Copper Corp. | (OTCQB: KDKCF | TSXV: KDK ) |
| Rua Gold Inc. | (OTCQB: NZAUF | TSXV: RUA) |
| DynaResource, Inc. | (OTCQX: DYNR) |
May 8 th
| Presentation | Ticker(s) |
| Novo Resources Corp. | (OTCQB: NSRPF | TSX: NVO) |
| Ecora Resources PLC | (OTCQX: ECRAF | TSX: ECOR) |
| Power Metallic Mines Inc. | (OTCQB: PNPNF | TSXV: PNPN) |
To facilitate investor relations scheduling and to view a complete calendar of Virtual Investor Conferences, please visit www.virtualinvestorconferences.com .
About Virtual Investor Conferences ®
Virtual Investor Conferences (VIC) is the leading proprietary investor conference series that provides an interactive forum for publicly traded companies to seamlessly present directly to investors.
Providing a real-time investor engagement solution, VIC is specifically designed to offer companies more efficient investor access. Replicating the components of an on-site investor conference, VIC offers companies enhanced capabilities to connect with investors, schedule targeted one-on-one meetings and enhance their presentations with dynamic video content. Accelerating the next level of investor engagement, Virtual Investor Conferences delivers leading investor communications to a global network of retail and institutional investors.
Media Contact:
OTC Markets Group Inc. +1 (212) 896-4428, media@otcmarkets.com
Virtual Investor Conferences Contact:
John M. Viglotti
SVP Corporate Services, Investor Access
OTC Markets Group
(212) 220-2221
johnv@otcmarkets.com
News Provided by GlobeNewswire via QuoteMedia
Loyal to Acquire the High-Grade Highway Reward Copper Gold Mine
Key Highlights
- Loyal secures binding option to acquire the Highway Reward Copper Gold Mine in Queensland, Australia - one of the world’s highest-grade copper mines, with past production totalling 3.65Mt at 5.7% Cu and 260kt at 4.5 g/t Au.
- The acquisition is the first step in Loyal’s 2025 Strategic Plan to broaden its critical minerals portfolio into copper.
- No exploration has been conducted on the granted mining leases since operations ceased in July 2005 despite a ~680% increase in copper prices and a ~1,256% increase in gold prices since the 1997 feasibility study.
- Significant increase in copper and gold prices, combined with the previous exclusion of gold in sulphides from the mine plan, highlights the enhanced remnant copper-gold potential.
- Exploration potential for new discoveries both along strike and at depth, as previous mining only reached depths of 220 metres for open pit and 390 metres for underground operations, with limited exploration beyond mined zones.
- With $4.4 million in funding, Loyal is well-positioned to revisit the high-grade Highway Reward Copper Gold Mine by deploying modern exploration techniques. With global initiatives to enhance energy grids and no USA tariffs on Australian copper, the outlook for copper is strong and unencumbered.
Loyal‘s Managing Director, Mr. Adam Ritchie, commented:
"We are thrilled to secure this incredibly rare opportunity for our current and future Loyal investors. The Highway Reward Copper Gold Mine, considered one of the highest-grade copper mines in the world, is now primed for a revisit after 20 years of dormancy.
The granted mining leases of the Highway Reward mine provide an amazing speed to market opportunity - especially when both copper and gold are near all-time highs. The short-term and long-term opportunities at Highway Reward are exciting, considering the significant growth in commodity prices since the 1997 feasibility study. Copper is driving our electric future and gold continues to play an important role in our global economy.
Whilst a lot has changed in the past 28 years, the unwavering demand for copper and gold has only intensified. This is truly an amazing opportunity to unlock and showcase the immense potential of this forgotten mine. With modern technology and innovative mining techniques, we believe the Highway Reward Copper Gold Mine will provide exceptional value and returns to our Loyal shareholders."
Figure 1 Highway Reward Copper Gold Mine: Located 37 km south of Charters Towers within the Mount Windsor Volcanic Belt. Accessible via an all-weather highway, 172 km from the Port of Townsville, Queensland, Australia.
The Highway Reward Copper Gold Mine is located only 37 km from the active mining town of Charters Towers in Queensland, Australia, within the Mount Windsor Volcanic Belt. This area is renowned for its rich history in copper and gold mining, with strong social license support for mining activities. It features large-scale mining operations such as, Newmont’s 3.2 Moz Mt Leyshon gold mine and Yuxin Holding’s 3.4 Moz Pajingo gold mine. The region is close to the polymetallic, Thalanga Processing Plant and the Mount Carlton Processing Plant, with road and rail to Glencore’s Mount Isa copper hub, Townsville copper refinery and the Port of Townsville.
With the growth in commodity prices and advancements in exploration and mining technologies, the potential for remnant copper-gold mining has significantly improved. Previous mining operations targeted copper within chalcopyrite, while gold associated with both chalcopyrite and pyrite was excluded from the mine plan. With lower copper equivalent cut-off grades (copper & gold), higher continuity of copper-gold can be drill tested to demonstrate the reasonable prospects for eventual economic extraction and mineral resource potential.
Graph 1: Highway Reward Copper Gold Mine - mining ceased in July 2005: 28 Years of Commodity Growth
Significant potential will be assessed and areas tested for copper-gold extensions to subvertical trends, that may exist below current mining levels at the Highway Reward Copper-Gold Mine. The previously mined, copper-gold rich pipes will also be assessed for drill testing along strike (Figure 2). Previous mining and surface mapping geological observations illustrate that high- grade copper-gold pipes have been identified in dacite, rhyolite, and volcaniclastic host rocks, therefore strong prospectivity exists for discovering additional pipes beyond the historically mined zones in all rock types on the property, except recent overlying sediments that conceal the basement host rocks (Figure 2). No modern advanced geophysical techniques or data processing methods have yet been applied to assess this potential.
Click here for the full ASX Release
This article includes content from Loyal Metals Limited, 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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