RE: As a long term shareholder5 Feb 2026 11:06
Key Requirements for MRE Upgrade
Infill and Extension Drilling: Further drilling is required to convert "Inferred" resources to higher-confidence "Measured" and "Indicated" categories, particularly at the Cosgrove deposit, which requires an extensive grid drill-out.
Targeting the "High-Grade Core": Future drilling (Q1/Q2 2026) is aimed at the 3.6km strike length of the high-grade central core at the Thomas deposit to increase both the size and confidence of the resource.
Deep Drilling: The current MRE only covers the top 70m, while the underlying geophysical anomaly extends for kilometres deeper. Continued deep drilling is needed to define the vertical extent.
Metallurgical Testing: Pilot-scale testing (set for Q1/Q2 2026) is crucial for updating the economic factors of the resource, including refining the process to produce a high-grade titanium feedstock.
Planned Activities
Extensive Grid Drilling: A program of works has been submitted to drill out the Cosgrove deposit (400m x 200m grid).
Drilling at Thomas: Continued infill drilling at the Thomas deposit to support a Scoping Study, scheduled for Q1/Q2 2026.
Capital & Resources: In October 2025, a £7 million raise was completed to accelerate the development of Pitfield.
The company stated that the current MRE is constrained by drill hole density, not by the geology or extent of titanium mineralization, indicating significant potential for future upgrades.