Empire Metals Ltd (AIM:EEE) said its exploration at Pitfield in Western Australia in the near term will focus on a large, very dense core coincident with the giant magnetics anomaly identified by a recent airborne survey.
The highest-density areas were outside of a maiden drilling programme, it said, indicating significant potential to discover additional titanium mineralisation and/or zones of new economic minerals within the high-density core.
“It is this dense core that is of particular focus of the company's current drilling programme, which commenced in September 2023, and which consists of three angled, 500m deep, diamond core drill holes.
“The objective is to confirm the continuation of the previously identified high-grade titanium mineralisation and provide evidence that it is the source of the high-density gravity anomaly,” it added.
“This latest drilling is the first phase of a major exploration campaign to confirm the scale of this giant, titanium-enriched mineral system.”
Empire, which raised £3 million earlier this week, posted a loss of £1.04 million in the six months ended 30 June 2023 while its cash position including the recent placing is currently around £3.8 million.