Shaun Bunn, Managing Director of Empire Metals Ltd (AIM:EEE) presented at the Proactive One2One Investor Forum, emphasising the immense potential of their recent discovery at Pitfield, Western Australia.
The Pitfield discovery, announced in mid-2023, is characterised as a "super giant" hydrothermal mineral system, notable for its exceptional titanium mineralisation. Covering a vast area of 40km by 8km and extending 5km deep, every one of the 21 drill holes in their maiden exploration program encountered significant titanium deposits, distinguishing Pitfield from typical beach sand titanium deposits.
The Pitfield site, located about three hours north of Perth, sits on the edge of a Neoproterozoic sedimentary basin, near major crustal faults. The unique geological setup contributed to the hydrothermal events that resulted in rich mineralisation, particularly titanium dioxide, used predominantly in high-quality paints.
The system boasts grades up to 20% titanium dioxide, substantially higher than the typical 1-3% found in beach sand deposits. Empire Metals' exploration strategy involves advanced technology like magnetic and electromagnetic surveys and gravity studies to pinpoint areas with the highest grade mineralisation.
The company's focus extends beyond titanium, with historical data and new explorations revealing significant copper mineralisation in the area. Bunn's presentation highlights the unique nature of Pitfield's mineral system, differing significantly from other titanium sources in both formation and composition.
With ongoing drilling and assay programs, Empire Metals aims to further understand and exploit this vast resource. The company's strategy involves not only exploring the titanium potential but also investigating the copper deposits within the system.
Bunn emphasised the company's commitment to developing this project and communicating its value and uniqueness to the public and investors, positioning Empire Metals for significant growth based on this world-class titanium discovery.