Empire Metals completes third phase of drilling at Pitfield

18th Apr 2024 11:29

(Sharecast News) - Empire Metals announced the successful conclusion of its third phase of reverse circulation (RC) drilling at the Pitfield Project in Western Australia on Thursday.

The AIM-traded firm said the drilling phase, consisting of 40 holes, was focussed on testing and delineating the two known zones of high-grade, bedded mineralisation at the site.

Additionally, diamond core drilling, aimed at confirming the continuation of near-surface, high-grade titanium mineralisation identified in previous drilling and surface sampling, was completed at the end of March.

Both the RC and diamond drilling programmes were executed ahead of schedule and within budgetary constraints.

Currently, the drill core was undergoing logging, with sampling procedures in progress, and assay results expecting in the coming weeks.

The phase of drilling added to the significant progress made at Pitfield, the board said with a total of 101 RC holes spanning 15,010 metres and seven diamond core holes totalling 2,024.6 metres completed over slightly more than a year.

"We continue to move at pace with development at the Pitfield Project, today announcing that our latest round of drilling has been successfully completed ahead of schedule and on budget," said managing director Shaun Bunn.

"Our ambitious development plan at Pitfield, which will see delivery of a demonstration plant next year, is designed to systematically de-risk the project and prove an expedited route to commercialisation for this globally significant new discovery."

At 1034 BST, Empire Metals shares were down 0.13% at 7.74p.

Reporting by Josh White for Sharecast.com.