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40.80 -0.90 (-2.16%)

Bid:

41.00

Ask:

42.20

Spread: 1.20 (2.927%)

Market Cap: £300.92m

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Empire Metals completes phase three drilling at Pitfiled, Australia

Thu, 18th Apr 2024 14:26

(Alliance News) - Empire Metals Ltd on Thursday announced it had successfully completed its third phase of reverse circulation drilling at the Pitfield project in Western Australia.

The London-based exploration and resource development company said the 40-hole RC programme focussed on testing and delineating the two known zones of high-grade, bedded mineralisation.

Drill core is being logged and sampling is ongoing, Empire Metals said, with assay results expected in the coming weeks.

The company indicated that 101 RC holes for a total of 15,010 meters as well as seven diamond core holes for a total of 2,024.6m have now been completed at Pitfield in just over a year.

Director Shaunn Bunn said: "We continue to move at pace with development at the Pitfield project, today announcing that our latest round of drilling has been successfully completed ahead of schedule and on budget. Our ambitious development plan at Pitfield, which will see delivery of a demonstration plant next year, is designed to systematically de-risk the project and prove an expedited route to commercialisation for this globally significant new discovery. I look forward to sharing more news in the coming weeks."

Shares in Empire Metals were down 1.2% at 7.66 pence each in London on Thursday afternoon.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com