Empire Metals Ltd - minerals exploration and development in Australia - Commences exploration activities at the Pitfield copper-gold project in Western Australia, starting with an airborne electromagnetic survey and an airborne magnetic across the Pitfield tenement area.
There are also plans for a more detailed magnetic survey to cover the main area of enhanced magnetic response, which is expected to provide valuable structural and context to geochemical exploration data.
The key objective of exploration is to map the geology of the Yandanooka basin, complementing the magnetic data by highlighting preferred host rock for copper.
"Pitfield represents an exceptional opportunity for the company to make a significant new discovery, being in an extremely favourable confluence of major geological structures and the only exposure of copper-prospective Neoproterozoic sediments along the western margin of the Yilgarn. The collection of detailed geophysical data over the project area will greatly assist with the targeting of copper-gold anomalies and will guide our on-ground exploration work," said Managing Director Shaun Bunn.
Current stock price: 1.20 pence, down 5.9% on Monday
12-month change: down 52%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Empire Metals (EEE)