Empire Metals Ltd (AIM:EEE) climbed 17% as the Aussie junior published another bullish update from its Pitfield project in Western Australia.
Drilling had already found huge titanium shows, but Empire has now revealed a discovery of weathered material at the surface.
Importantly, the Empire stated that this is high-grade ore which is easily accessible and should be relatively straightforward to process, providing revenues while it assesses how best to access the huge quantities of metal present in the bedrock a bit further down.
Shaun Bunn, Empire’s managing director, called the discovery a game-changer for the project as it progresses towards a full feasibility study.
Liberum added: "There appears to be a discrete rutile-anatase deposit within the extensive weathering cap that covers the extent of the 40km-long titanium-rich system at Pitfield ‘soft-rock’ titanium project in Australia, coincident with high TiO2 grades."
Shares rose 1.75p to 12.1p.