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Australian copper company, Cyprium Metals Limited (ASX: CYM) (Cyprium or the Company), is pleased to present an updated 2024 Mineral Resource Estimate (MRE) for its flagship asset the Nifty Copper Mine (Nifty) in Western Australia.
HIGHLIGHTS
- Nifty Measured and Indicated mineral resource grows to 119mt at 0.84% pct Cu for 1 million tonnes contained copper
- Potential to further enhance mineral resource from existing mineralised heap leach inventory
- Updated MRE incorporates past underground modelling of Nifty in detail and supports plans for a large-scale, open-cut mine
- 95% of global resource now Measured and Indicated
“We’re pleased to produce an updated Mineral Resource Estimate for Nifty,” said Executive Chair Matt Fifield. “Nifty is one of the largest non-operational copper projects in Australia, and the only brownfield project that can be reactivated in short order. This update is the result of a disciplined process run by the Cyprium team and MEC Mining. Our objective with this MRE scope was to ensure a strong foundation for our planning work, including pit optimisation and mining studies.”
Table 1: Nifty Copper Deposit March 2024 Mineral Resource Estimate (MRE) above 0.25% Cu.Numbers are rounded to reflect a suitable level of precision. Numbers may not sum due to rounding.
Table 2: 2024 Nifty MRE update cut-off grades totals.
Nifty’s sedimentary-hosted copper resource showcases stable mineralisation patterns, defined by comprehensive drilling and mining activities spanning more than 30 years. This robust dataset, in conjunction with geological and structural information not included in the previous estimate, has given the company a better understanding and sharper definition of the deposit and significantly upgraded the resource classifications and its economics.
Plan, long-section looking north and cross section looking west showing the Nifty Middle Carbonate Unit wireframe and drilling used in the 2024 MRE update. (MEC Mining Nifty 2024 MRE release memorandum).
“As a result of the detailed study work, the proportion of the resource categorised as Measured & Indicated has risen from 80% to 95%, bolstering the project’s feasibility and long-term economic prospects,” said Fifield.
3D View of Nifty 2024 MRE resource categories. (MEC Mining Nifty 2024 MRE release memorandum).
“This MRE is the basis for our workstreams to redevelop Nifty into a significant new copper mine,” said Fifield. “With a million tonnes of contained copper, this resource should support a large scale mine. This is the long-term opportunity at Nifty.”
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This article includes content from Cyprium Metals, 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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Cyprium Metals
Investor Insight
Cyprium Metals presents a compelling investment opportunity as a near-term copper producer with a well-defined strategy to generate early cash flow while scaling up production. The company’s brownfield assets, strategic partnerships, and disciplined capital management position it as an undervalued player in Australia’s growing copper market.
Overview
Cyprium Metals (ASX:CYM,OTC:CYPMF) is an Australian copper-focused exploration and development company dedicated to reviving brownfield assets with a clear path to production. The company’s primary focus is on the redevelopment of the Nifty copper complex, a historically productive copper mine in Western Australia, positioned for near-term production and long-term growth.
Nifty’s robust resource base, combined with strategic partnerships and a disciplined execution strategy, provides Cyprium with a strong foundation for scaling copper production. Advancing towards full copper production is the next strategic step, with plans to produce over 38,000 tons per annum through both cathode and concentrate production.
The company is also advancing the Maroochydore copper-cobalt project, located 70 km from Nifty, which further strengthens its asset portfolio in Paterson Province.
By prioritizing capital efficiency, operational excellence and commercial partnerships, Cyprium aims to deliver sustained value to shareholders while addressing the growing demand for copper in the global energy transition. Cyprium Metals is guided by a seasoned leadership team with deep experience in mine development, corporate strategy, and financial execution.
Company Highlights
- Cyprium Metals is redeveloping the Nifty Copper Complex, a historically significant copper operation with both oxide and sulphide resources, offering a low-risk pathway to production.
- The flagship Nifty Copper Complex has a mineral resource estimate of 1 million tonnes contained copper and 91,000 tonnes contained copper in leach pads, and has substantial near-term revenue potential.
- The reprocessing of existing heap leach pads at Nifty offers a low-cost, high-margin opportunity to generate early-stage revenue and fund further project development.
- Macmahon Holdings is leading the bankable feasibility study under an early contractor involvement model, contributing internal resources to optimize the project’s execution.
- Offtake and financing agreements secured with Glencore, providing financial stability and downstream integration for copper sales.
- Led by Executive Chairman Matt Fifield, Cyprium’s team includes seasoned mine builders and financial strategists with extensive experience in copper development and operations.
- Trading at a fraction of its asset value, Cyprium presents a compelling investment opportunity, with limited equity research coverage despite its strong fundamentals and near-term production timeline.
Key Projects
Nifty Copper Complex
The Nifty copper mine is Cyprium’s flagship project, boasting a well-defined resource and established infrastructure that significantly reduces the capital intensity of restarting operations. With a resource base of 1.04 million tons of contained copper, the project offers a 20+ year mine life with brownfield expansion opportunities.
A key advantage of Nifty is the near-term revenue potential from reprocessing 91,000 tons of copper in existing heap leach pads. Macmahon Holdings is leading the bankable feasibility study execution. The company is also working in collaboration with strategic partner Glencore to secure offtake agreements and financial support.
Leach solution from heap drains
The production strategy involves an initial focus on heap leach processing, followed by a full-scale restart of open-pit mining and concentrator operations with plans to produce over 38,000 tons per annum through both cathode and concentrate production. The asset is projected to generate AU$4 billion EBITDA over its lifecycle, with a five-year payback period.
Maroochydore Copper-Cobalt Project
The Maroochydore copper-cobalt project is positioned as Cyprium’s next growth asset, complementing Nifty and enhancing the company’s regional production capacity. This asset holds a resource base of 712,000 tons of copper, with recently updated mineral resource estimates confirming further expansion potential. Located just 70 km from Nifty, Maroochydore benefits from shared infrastructure and operational synergies, strengthening its strategic value within Cyprium’s portfolio.
Management Team
Matt Fifield – Executive Chairman
Matt Fifield is a proven leader in corporate turnarounds and resource development, instrumental in repositioning Cyprium as a growth-focused copper producer. He is the managing director of Pacific Road Capital, a leading resource investment firm that has managed over $1 billion in funds raised to develop and enhance resource companies around the world. Fifield has participated in over $10 billion of capital raising and M&A transactions across his career and is a leading voice on responsible resource investing. He is a frequent speaker and contributor around issues of sustainable development practices.
Colin Mackey – Chief Operating Officer
Colin Mackey has extensive experience in mine operations and development, overseeing the Nifty restart strategy. A mining engineer by background, Mackey has worked with Goldfields, BHP and Theiss, before joining Rio Tinto in 2003, where he led the construction, development and operational improvement of multiple mining operations within the company’s portfolio. His most recent role was as managing director of Jadar and European operations for Rio Tinto. Mackey is a member of the Institute of Materials, Minerals and Mining and the Australian Institute of Company Directors.
Louis Chait – Chief Commercial Officer
Louis Chait is the former CFO of Glencore Copper, bringing deep financial and commercial expertise. He is a highly experienced corporate executive with more than 25 years’ experience in the global resources industry, having worked across senior business development and finance positions at Xstrata and Guildford Coal. He brings extensive commercial experience and skills in establishing successful, highly efficient operations in multiple jurisdictions. Chait is a member of Chartered Accountants, Australia and New Zealand.
Manu Trivedi – Interim CFO
Manu Triverdi is a chartered accountant and a CPA with 16 years of experience in financial and business strategies, controllership, compliance and leadership across various industries covering mining, power generation and retail, hospitality, commodities trading and education. Trivedi previously worked as group financial controller for tungsten miner Masan Resources, and has held other senior finance positions for mining projects in South Africa.
Advancing Western Australia’s historic Nifty copper mine for near-term production and long-term growth
Nine Mile samples up to 18.27% Cu at Wedge
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.
We seek Safe Harbor.
Empire Metals Limited Announces Appointment of Marketing Manager
- 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.
Empire Metals Limited Announces Director/PDMR Shareholding
**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.
Empire Metals Limited Announces Company Update
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.
High-Grade Copper-Gold Extensions at Nugent
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.
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 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.
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