Empire Metals Ltd (AIM:EEE) managing director Shaun Bunn joined Proactive's Stephen Gunnion with details of a JORC exploration target for two targets at its Pitfield titanium project, saying this represents another crucial step towards achieving a mineral resource estimate for the project.
Bunn highlighted the significance of the exploration target, describing it as "an extraordinary number ... an extraordinary estimate," with approximately 30 billion tons at a grade of between 4.5% and 5.5% titanium dioxide. This estimate covers just two of the targets, Cosgrove and Thomas.
He further explained the collaborative efforts with Snowden, a leading mineral resources consulting group, in developing the geological models and conducting due diligence. The exploration target alone represents 1.5 billion tons of titanium dioxide contained, equivalent to 150 years of current annual consumption.
Bunn discussed the next steps, including accelerating the process towards a mineral reserve and emphasising the continuity and grade of the mineral system, which might allow for a mineral resource estimate without extensive infill drilling.
