Empire Metals Ltd (AIM:EEE, OTCQX:EPMLF) has more than tripled its mineral resource at its Pitfield Titanium Project in Western Australia - making it the world’s largest titanium resource.
After the mineral resource estimate (MRE), the company upgraded its resource 8.16 billion tonnes at 4.3% titanium dioxide (TiO₂), containing 349 million tonnes of TiO₂.
Consequently, Empire Metals shares climbed 7.7% to 49.4p in early trading on Wednesday following the resource upgrade.
The new estimate marks a significant increase from the maiden resource announced in October 2025 of 2.2 billion tonnes at 5.1% TiO₂ containing 113 million tonnes.
Importantly, Pitfield now includes its first Measured Resource, comprising 374 million tonnes at 5.8% TiO₂ for 21.6 million tonnes of contained TiO₂. A further 3.65 billion tonnes is classified as Indicated and 4.2 billion tonnes as Inferred.
Empire also highlighted a 4.39 billion-tonne near-surface weathered zone grading 4.4% TiO₂, while higher-grade zones above 6% TiO₂ extend for around 5 kilometres at Thomas and 4 kilometres at Cosgrove. These areas are being considered as potential early mining targets.
Managing director Shaun Bunn said the increased confidence in the resource would provide a platform for mine planning and economic studies.
Further drilling, metallurgical work and engineering studies are planned ahead of another resource upgrade targeted for mid-2027.
Empire shares had also edged higher ahead of the announcement, gaining around 1.9% on Tuesday to close at 45.9p.
