Empire Metals Ltd (AIM:EEE) said an airborne magnetic survey identified a significant structure at the Pitfield copper-gold project in Western Australia.
The structure closely aligns with a 7km surface copper anomaly identified by previous owners during surface sampling in the early 1990s.
"This is a tremendous result for Empire, and clear evidence of the mineralised potential of this geologically significant asset,” said managing director Shaun Bunn. “Our early success from the airborne magnetic survey has confirmed that the historical geochemical sampling closely aligns with a significant magnetic anomaly.”
Shares in the AIM-quoted exploration and development company were up 4.9% at 1.08 pence in early morning trading.
Empire expects to receive the results of a recently completed airborne electro-magnetic survey in the next few weeks.
Pitfield is adjacent to the historic Baxters copper mine at Arrino which produced 106 tonnes of copper at grades of between 20-30% which, along with numerous other prospects, demonstrates high regional prospectivity for copper, Empire noted.
Earlier this week, Empire reported positive drilling results from the Eclipse-Gindalbie gold project, also in Western Australia.
READ: Empire Metals says drilling results 'very encouraging' from Eclipse-Gindalbie gold project