Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Empire Metals upbeat on lab results from Pitfield Project
(Sharecast News) - Empire Metals unveiled analytical lab results from an initial 18 reverse circulation (RC) drillholes at the Pitfield Project in Western Australia on Thursday. The AIM-traded firm said the results extended and deepened its understanding of high-grade titanium dioxide mineralisation in known areas, laying the groundwork for a JORC-compliant exploration target.
It said the programme's standout drill hole results, combined with previous and forthcoming findings, would serve as the foundation for delineating an exploration target for each priority area, now identified as the Cosgrove and Thomas sites.
The ongoing mineral resource development programme hinged on that crucial step.
Analytical lab results had been received for the first 18 RC drillholes of the recently-completed 40 RC holes, with additional assays still pending.
The drilling efforts consistently revealed high-grade titanium dioxide mineralisation, from near surface down to the end of each hole, underscoring the scale of the titanium-enriched mineral system.
Several RC drillhole intercepts stood out, including RC24COS019, which intersected 148 metres at 6.49% titanium dioxide from surface level, and RC24TOM015, which yielded 154 metres at 5.30% titanium dioxide from the surface.
The successful completion of four diamond drillholes, with promising core recovery from the surface, added to the anticipation, with analytical results awaited.
Moreover, the logging of the diamond drill core reaffirmed the consistency of the geology encountered within the high-grade prospect areas.
Sandstone dominated the geological composition, interspersed with small interbeds of conglomerate and siltstone.
The results consistently affirmed that sandstone beds held the higher grade titanium dioxide values within the interbedded succession of sandstones, siltstones, and conglomerates, further solidifying the project's potential.
"As expected, our recent drilling continues to produce exceptional results and provides further evidence of extensive high-grade titanium mineralisation within our two key target areas," said managing director Shaun Bunn.
"The continuous nature of mineralisation within the sandstone beds, which remains open in all directions and starts at, or near, surface and continues beyond the end of each drillhole, provides an excellent basis for delineating a resource development exploration target which will be the focus of our efforts once we have received all of the remaining RC and diamond drill core analytical results.
"What is truly remarkable about this giant mineral system, is that having now drilled a total of 108 holes for 17,035 metres - including seven diamond core holes for 2,025 metres - over a 30 kilometre strike length, we are yet to encounter any igneous intrusions or significant cross faults that could disrupt and complicate the ore geology.
"Consequently the remarkable continuity of titanium mineralisation and the consistent grades demonstrates just how simple the giant mineral system really is from a geological modelling perspective and it is for this reason we have been able to rapidly progress the project from maiden discovery to establishing exploration targets and commencing process development within the space of 12 months."
At 0928 BST, shares in Empire Metals were up 7.38% at 8p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity, Equity & Inclusion | Doing Business with Fidelity | Diversity, Equity & Inclusion Reports | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Staying secure | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.