Empire Metals Ltd (AIM:EEE) managing director Shaun Bunn discussed the preliminary results from mineralogical and metallurgical testing at the Pitfield project in an interview with Proactive's Stephen Gunnioin.
Bunn said the findings highlight the project's potential, particularly its unique position in the titanium market. A significant discovery is the high concentration of titanite, a calcium titanium silicate, which constitutes about two-thirds of the titanium dioxide in the deposit. This is unusual as titanite typically makes up only a small fraction of a deposit's composition.
Bunn said the presence of titanite simplifies the mining and processing phases due to its non-refractory nature, allowing for low-cost and efficient extraction and processing methods, including a simple leaching process to produce titanium dioxide.
Moreover, current market dynamics could significantly enhance the economics, aiming to produce a product that could potentially fetch a much higher market price compared to conventional sources.
Bunn outlined the next steps for development, including the recruitment of industry experts and plans for a demonstration plant in 2025.