TIDMEEE
RNS Number : 8755A
Empire Metals Limited
30 May 2023
Empire Metals Limited / LON : EEE / Sector: Natural
Resources
30 May 2023
Empire Metals Limited
("Empire " or "the Company")
"Giant" Copper and Titanium Mineral System Confirmed at Pitfield
Project
Including New, High-Grade Titanium Discovery
Empire Metals Limited (LON: EEE), the AIM-quoted resource
exploration and development company, is pleased to announce that
results from the Company's maiden Reverse Circulation ('RC') drill
programme at the Pitfield Project ('Pitfield'), located in Western
Australia, have confirmed the presence of a giant-scale
hydrothermal mineral system enriched in titanium and copper. A new
corporate presentation has also been uploaded to the Company's
website and can be found at
www.empiremetals.co.uk/investors/reports-presentations .
Highlights
-- Confirmed the presence of a giant (40km by 8km) metal-rich
mineral system, hosted by sedimentary rocks displaying extensive
evidence of intense alteration by hydrothermal fluids. These fluids
are thought to be responsible for the significant enrichment of
both copper (Cu) and titanium (Ti) in these sedimentary host
rocks.
-- Drilling has identified a new high-grade, titanium discovery
with consistently high titanium grades returned in thick
intersections over a wide area identified throughout the mineral
system.
-- Titanium rich mineralisation (between 4% and 10% TiO(2) ) was
identified in all but one of 21 holes drilled, starting at or very
near surface and with nearly a quarter of the holes still ending in
high TiO(2) values of up to 154 metres depth.
-- Highly anomalous copper values (+100ppm) were reported for
60% of the drill sample intervals, averaging 131ppm Cu and peaking
at 605ppm Cu; over 25 times higher than the background
copper-in-soil, indicating that this giant mineral system contains
significant amounts of copper and potential for multiple copper
deposits in other parts of the system.
-- Chalcopyrite, a copper-iron sulphide mineral, has been
identified petrographically as well as in RC chip logging within
samples that returned elevated Cu assay values.
-- Only 2% of this highly prospective, giant mineral system has
been drilled to date demonstrating enormous potential for
additional discoveries through future drilling currently being
planned.
-- It is evident from these results that this giant mineral
system is regionally zoned for a variety of valuable metals and
that our maiden drill programme has discovered a particularly
titanium-rich zone but has also provided critically important
information as to where other metals, such as copper, have been
concentrated.
Shaun Bunn, Managing Director, said: "We are absolutely thrilled
with the results of our maiden drilling campaign. Our research over
the past year pointed to the presence of a newly recognized giant
copper mineral system at Pitfield, in itself no minor feat, however
the results announced today add a whole new dimension to this
globally important asset - the discovery of titanium rich minerals
in my view tells us we have a "Land of Giants" to explore. The
scale, strength and consistency of the mineralised system cannot be
overemphasised given that the drill holes were spaced several
hundreds of metres to tens of kilometres apart, and that 53% of all
samples collected contain an average 5.12% TiO(2) , and 60% were
anomalous in copper .
"Clearly more work is required, not least because 98% of the
mineralised system is still to be drilled and evidently we tagged
an enormous, titanium rich part of the system. Based on the scale
of this find, Pitfield has the potential to be one of the largest
primary titanium sources discovered globally. Additional analysis
is underway as we work to understand the magnitude and potential
commercial value of this titanium mineral discovery within such a
unique geological setting. However, it is also evident that this
giant mineral system contains significant copper and these
first-round results have also indicated to us where the more copper
rich parts of this regionally zoned system may be."
The Pitfield Copper Project
Empire holds a 70% interest in Pitfield which is comprised of
four granted Exploration Licences (E70/5465, E70/5876, E70/6320 and
E70/6323) covering 1,042km(2) . Pitfield is located near Three
Springs, a town 313km north of Perth, Western Australia on the
Midlands Road, which until the opening of the Brand Highway in 1975
was the main road route from Perth to the state's north (refer
Figure 1).
Figure 1. Pitfield Project Location
Discussion of Results
The key outcomes from the maiden, reconnaissance RC drilling
campaign are summarised below:
-- Drilling has confirmed that highly oxidising fluids have
intensely and extensively altered the Mt Scratch
sandstone-siltstone and Beaconsfield Conglomerate, along almost the
entire strike length of the Yandanooka Basin;
-- The resulting giant-scale (40km by 8km) hydrothermal mineral
system is especially endowed with metals typically associated with
a mafic rock source, such as copper, titanium and vanadium, but
also notable for zinc and nickel locally;
-- The drill campaign consisted of 21 RC drill holes totalling
3,206 metres, with the first 18 holes focused near the old Mt
Scratch workings to the north (representing only 2% of the overall,
highly prospective mineral system) and the final three holes spread
evenly across a 30km distance to the south;
-- Drilling was focused primarily on areas where the Company had
previously identified extensive, highly chargeable-highly resistive
anomalies, which have now been shown to be associated with very
high levels of titanium oxide (generally between 4% and 10%) and
significant hematite alteration of the sandstone-siltstone
beds;
-- Preliminary mineralogical analysis of a small suite of
selected RC chip samples has identified the common presence of
several iron and titanium minerals including magnetite, hematite,
and ilmenite as well as lesser rutile and chalcopyrite. Additional
petrographic and mineralogic analysis from a larger sample suite
collected from across all drill holes is required to better
understand the identity, nature and relative abundance of the
various titanium-bearing minerals.
Andrew Faragher, Exploration Manager for Empire, said: "One of
our key objectives from the drilling was to better understand the
geology and significance of several highly chargeable-highly
resistive zones identified from Induced Polarisation ('IP')
surveys. These zones have now been shown to be coincident with high
concentrations of titanium-rich minerals and significant hematite
alteration of early magnetite, possibly due to martitization of
magnetite caused by a later injection of copper-bearing
hydrothermal fluids.
"Higher grade copper anomalism appears to be associated with
discrete structures, which may have acted as migration pathways for
the copper rich mineralizing fluids that were superimposed upon the
primary iron-titanium mineralization. Further gravity analysis,
geochemical sampling (soils and auger) and geological mapping is
planned to help vector future reconnaissance drilling towards the
copper-rich parts of this giant mineral system.
The results of this maiden drilling programme have clearly
indicated that this giant mineral system is not only capable of
forming significant copper mineralisation but also potentially
economic concentrations of titanium oxides. For example, of the
1,589 drill samples (2m intervals) collected, 53% returned
significant TiO (2) values exceeding 4.17% TiO (2) , peaking at
10.18% TiO (2) and averaging 5.12% TiO (2) (refer Table 1). Highly
anomalous copper values were also reported for the same sample
intervals, with 60% returning greater than 100ppm Cu, averaging
131ppm and peaking at 605ppm (which is over 25 times higher than
the background Cu-in-soils measured immediately adjacent to the
massively altered and mineralized host sandstone-siltstone
beds).
Chalcopyrite, a copper-iron sulphide mineral, has been
identified petrographically as well as in RC chip logging, within
samples that returned elevated Cu assay values. The pervasive
copper anomalism and presence of chalcopyrite in association with
these extensively altered host rocks This highlights the potential
for Pitfield to host significant Cu mineralisation in other parts
of this regionally zoned mineral system.
Details of the Pitfield Exploration Programme
Empire commenced its maiden drilling campaign at Pitfield on 27
March 2023 with the main objective of testing the highly
chargeable-highly resistive zones identified by DD-IP survey. This
reconnaissance RC drilling was performed by Perth based Strike
Drilling Pty Ltd, under the supervision of Empire's Exploration
Manager, Mr Andrew Faragher.
The drilling campaign was successfully completed, on time and
within budget, with the final hole being drilled by 15 April. In
total 21 RC holes were drilled covering a total of 3,206 metres,
with the average downhole depth of each hole being approximately
150 metres. Samples were taken at 2m intervals from surface for
assaying purposes and at the conclusion of the campaign these
samples were shipped to Intertek Minerals, in Perth, for
multi-element analysis with a subset of samples sent for
mineralogical analysis.
The majority of the drilling was performed near Mt Scratch, with
the first 11 holes focusing on the 800m wide highly chargeable
anomaly, adjacent to where the Company previously found high-grade
copper-silver rock specimens (announced 30 January 2023). A further
seven holes were drilled across two other highly chargeable targets
lines within a few kilometres south of Mt Scratch. The final three
holes were spaced separately and located much further to the south
of Mt Scratch, again targeting highly chargeable anomalies. The
drill hole collar locations are presented in Figure 2.
Figure 2. Drill Hole Locations within E70/5465 (background magnetic intensity image)
Significant Drill Results
Hole ID Depth From Depth EOH Interval Grade Grade Target
(m) To (m) (m) (m) (Ti %) (TiO(2)
%)
--------
RC23MTS001 2 154 196 152 2.64 4.40 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 2 46 44 2.71 4.52
---------- ------- ---- -------- ------- --------
inc. 84 154 70 2.71 4.52
---------- ------- ---- -------- ------- --------
RC23MTS002 30 150 178 120 2.83 4.72 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS003 92 170 178 78 2.85 4.75 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 92 138 46 2.90 4.84
---------- ------- ---- -------- ------- --------
RC23MTS004 0 72 178 72 2.89 4.82 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS004 136 169 33 3.00 5.00
---------- ------- ---- -------- ------- --------
RC23MTS005 0 128 156 128 2.68 4.47 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 58 100 42 2.75 4.59
---------- ------- ---- -------- ------- --------
inc. 88 128 40 2.84 4.74
---------- ------- ---- -------- ------- --------
RC23MTS006 0 50 160 50 2.55 4.25 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS006 60 114 54 2.67 4.45
---------- ------- ---- -------- ------- --------
RC23MTS007 0 88 154 88 2.73 4.55 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 34 62 28 2.96 4.94
---------- ------- ---- -------- ------- --------
RC23MTS008 10 148 148 138 2.90 4.84 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 10 62 52 2.95 4.92
---------- ------- ---- -------- ------- --------
inc. 86 126 40 3.00 5.00
---------- ------- ---- -------- ------- --------
inc. 136 148 12 3.34 5.57
---------- ------- ---- -------- ------- --------
RC23MTS009 0 34 154 34 2.81 4.69 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS010 0 36 154 36 2.72 4.54 Mt Scratch
---------- ------- ---- -------- ------- --------
96 148 52 2.64 4.40
---------- ------- ---- -------- ------- --------
RC23MTS011 4 20 154 16 2.82 4.70 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS011 90 148 58 2.58 4.30
---------- ------- ---- -------- ------- --------
RC23MTS012 0 44 154 44 2.66 4.44 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS012 110 136 26 2.78 4.64
---------- ------- ---- -------- ------- --------
RC23MTS013 0 38 154 38 2.75 4.59 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS014 2 30 154 28 2.77 4.62 Mt Scratch
---------- ------- ---- -------- ------- --------
RC23MTS014 132 152 20 2.80 4.67
---------- ------- ---- -------- ------- --------
RC23MTS015 30 154 154 124 2.88 4.80 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 84 152 68 3.04 5.07
---------- ------- ---- -------- ------- --------
RC23MTS016 0 154 154 154 2.84 4.74 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 2 32 30 3.31 5.52
---------- ------- ---- -------- ------- --------
inc. 48 100 52 3.00 5.00
---------- ------- ---- -------- ------- --------
RC23MTS017 0 154 154 154 2.64 4.40 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 0 46 46 2.74 4.57
---------- ------- ---- -------- ------- --------
inc. 98 132 34 2.74 4.57
---------- ------- ---- -------- ------- --------
RC23MTS018 70 150 154 80 2.86 4.77 Mt Scratch
---------- ------- ---- -------- ------- --------
inc. 98 150 52 3.02 5.04
---------- ------- ---- -------- ------- --------
RC23TOM001 10 148 148 138 2.80 4.67 Thomas
---------- ------- ---- -------- ------- --------
inc. 10 46 36 3.32 5.54
---------- ------- ---- -------- ------- --------
inc. 112 148 36 3.24 5.40
---------- ------- ---- -------- ------- --------
Table 1. Significant Intercepts from RC Drilling with and
incremental cut-off grade of >2.5% Ti (>4.17% TiO2
equivalent).
Further Work
The regional gravity and airborne magnetic surveys show locally
important structures (refer Figure 3.) that may have once played a
role in the migration of the metal-bearing hydrothermal fluids into
the host sedimentary beds. Detailed surface mapping supported this
preliminary interpretation and further suggested that specific
stratigraphic zones lower down in the Mt Scratch Formation towards
the underlying Beaconsfield Conglomerate, and indeed the
Beaconsfield Conglomerate formation itself, are potentially more
favourable host units for copper mineralisation, especially where
these stratigraphic units are near surfacing thrust faults which
may have acted as migration pathways for the mineralising
fluids.
High-grade copper in surface rock samples has an observed
association with discrete structures that cross the pervasively
altered and Ti-mineralized sandstone-siltstone beds suggesting that
a copper-bearing hydrothermal fluid event was superimposed onto the
primary iron-titanium mineralization and may have precipitated
significant concentrations of copper in another part of this
regionally zoned mineral system, the scale of which is evident in
Figure 3.
Figure 3. Geological mapping with locally important structures -
note the outline of the magnetic anomaly signifying the extent of
this massive and intense alteration of the sedimentary beds.
Future mapping, geophysics and geochemical sampling will focus
on defining the key internal thrust faults, and other important
structures within the Yandanooka basin, which have the potential to
focus a later stage copper mineralisation event, possibly within
the western and southern parts of the Pitfield property where there
are indications of widespread copper anomalism including historical
copper prospects. The geochemical sampling - soils, auger and
aircore drilling as appropriate will be undertaken to define new
bedrock drilling targets, both during and following the current
cropping cycle.
Competent Person Statement
The technical information in this report that relates to the
Pitfield Project has been compiled by Mr Andrew Faragher, an
employee of Eclipse Exploration Pty Ltd, a wholly owned subsidiary
of Empire. Mr Faragher is a Member of the Australian Institute of
Mining and Metallurgy. Mr Faragher has sufficient experience that
is relevant to the style of mineralisation and type of deposit
under consideration and to the activity being undertaken to qualify
as a Competent Person as defined in the 2012 Edition of the
'Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves'. Mr Faragher consents to the inclusion
in this release of the matters based on his information in the form
and context in which it appears.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, as incorporated into UK law by the
European Union (Withdrawal) Act 2018, until the release of this
announcement.
**ENDS**
For further information please visit www.empiremetals.co.uk or contact:
Empire Metals Ltd
Shaun Bunn / Greg Kuenzel Tel: 020 4583 1440
S. P. Angel Corporate Finance LLP Tel: 020 3470 0470
(Nomad & Broker)
Ewan Leggat / Adam Cowl
---------------------
Shard Capital Partners LLP (Joint Tel: 020 7186 9950
Broker)
Damon Heath
---------------------
St Brides Partners Ltd (Financial Tel: 020 7236 1177
PR)
Susie Geliher / Ana Ribeiro
---------------------
About Empire Metals Limited
Empire Metals is an AIM-listed (LON: EEE) exploration and
resource development company with a project portfolio comprising
copper and gold interests in Australia and Austria.
The Company's strategy is to develop a pipeline of projects at
different stages in the development curve. Its current focus is on
the Pitfield Project in Western Australia, which has demonstrated
strong potential to be a new "Giant" copper mineral system. The
Company is also advancing the Eclipse-Gindalbie Project in Western
Australia, which is prospective for high-grade gold and also
kaolin, which is used extensively in a number of industries and is
considered to be a desirable feedstock for the production of
high-purity alumina - an essential component in lithium-ion
batteries.
The Company also has two further exploration projects in
Australia; the Walton Project in Western Australia, and the Stavely
Project in the Stavely Arc region of Victoria, in addition to three
precious metals projects located in a historically high-grade gold
production region in central-southern Austria.
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