Empire Metals Ltd (AIM:EEE) managing director Shaun Bunn joined Proactive's Stephen Gunnion with results from the company's latest drilling program at Pittsfield in Western Australia.
Bunn revealed that the second RC drilling campaign was a major success, with each of the 40 holes drilled striking titanium mineralization from surface to end. This outcome confirms the presence of a giant mineral system extending over a 25-kilometer strike length. Following the success of their maiden drilling program and the second assay phase, Empire Metals plans to initiate a combined diamond and RC drilling program starting in February, aiming to further explore and develop this massive deposit.
Bunn also discussed a £3 million placement. The funds raised are crucial for accelerating potential development, including detailed metallurgical and mineralogical studies, and enhancing their technical team. Bunn emphasized the importance of establishing an economic value for the discovery and exploring potential metallurgical processes for mineral extraction.
This phase of development represents a significant step forward for the company, as they move from preliminary exploration to detailed development and extraction planning.