Empire Metals Ltd (AIM: EEE) announced that it’s exploratory drilling at the Pitfield Project in Western Australia has potentially uncovered one of the largest titanium deposits on record.
The Pitfield site had previously been flagged as a possible enormous copper system by Empire. However, according to managing director Shaun Bunn, the findings of titanium significantly elevate its importance.
“The data revealed today introduce a new layer of significance to this globally critical asset – the unearthing of titanium-rich minerals suggests that we’re embarking on a ‘Land of Giants’ exploration,” Bunn stated.
The drilling unearthed a substantial 40km by 8km system, according to Empire, situated within sedimentary rocks that show abundant signs of deep transformation by hydrothermal fluids, resulting in substantial enrichment with copper and titanium.
Titanium-rich mineralisation (ranging from 4% to 10% TiO2) was detected in all but one of the 21 holes drilled, beginning at or very near the surface. In addition, unusually high copper values (+100 parts per million) were reported for 60% of the drill sample intervals.
Only a small fraction, 2%, of the system has been explored till now, according to Empire, which is already outlining plans for additional drilling.
Bunn expressed his excitement over the results of what was the company’s first drilling campaign.
“The magnitude, intensity, and uniformity of the mineralised system are quite remarkable, considering the drill holes were several hundreds of metres to tens of kilometres apart. Furthermore, 53% of all collected samples contain an average of 5.12% TiO2, and 60% exhibited elevated copper levels.
“Clearly, there’s more exploration needed, especially since 98% of the mineralised system is still undrilled, and it’s clear we’ve hit a vast, titanium-rich segment of the system.
“However, it’s also clear that this mammoth mineral system holds significant copper reserves, and these initial results have hinted at the location of the more copper-rich sections of this regionally zoned system,” he concluded.
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