Shaun Bunn, Managing Director of Empire Metals Ltd (AIM:EEE), provided an update on the company's progress at a recent event. He highlighted that it has been 12 months since Empire Metals first discovered an unusual titanium mineralisation at their Pitfield project, located 300km north of Perth, Western Australia. The project is notable for its large scale, encompassing a 40km by 8km area, with mineralisation reaching depths of 5km.
Bunn detailed the importance of titanium dioxide, which is used extensively in pigments, coatings, and the defence industry. He noted that the titanium found at Pitfield is of high quality, forming a significant global resource. The company has drilled over 108 holes, totalling 30km in strike length, all showing consistent mineralisation. The estimated resource is between 28 and 32 billion tonnes, with 1.5 billion tonnes of titanium dioxide, capable of supplying the world's demand for 150 years.
Empire Metals aims to transition from exploration to development, focusing on creating a fully integrated production process to produce high-value titanium dioxide. Collaborations with institutions like CSIRO and Curtin University support the project's advancement. The company's strategic goal is to process and sell high-grade titanium directly, avoiding lower-value markets.
The company benefits from existing infrastructure, including rail lines and port access, and plans to finalise the processing steps within six months. Empire Metals is also considering an ASX listing to attract Australian investors who better understand mining ventures.