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Empire Metals shares jump on upgraded Pitfield titanium resource estimate
Empire’s updated mineral resource estimate for its Western Australia Pitfield project totals 8.16 billion tonnes grading 4.3% titanium dioxide, adding a first measured resource to boost confidence for mine planning.
Empire Metals shares jumped more than 13% after the junior mining company released an upgraded mineral resource estimate for its Pitfield titanium project in Western Australia. The company said the update confirms Pitfield as the world’s largest titanium deposit.
The updated estimate puts Pitfield at 8.16 billion tonnes grading 4.3% titanium dioxide, containing 349 million tonnes across the Thomas and Cosgrove deposits. Empire also said it established Pitfield’s first measured resource, a step it said should increase confidence as it advances mine planning and economic studies.
Empire’s update followed a recent effort to demonstrate an integrated processing route using conventional steps to produce 99% pure titanium dioxide. Managing director Shaun Bunn said the upgrade underlines the scale of the discovery and noted that a high-grade weathered zone sits at surface and could allow simpler, more efficient mining methods.
The company said it aims to develop Pitfield into a source of high-purity titanium dioxide for pigment and metal feedstock markets, with uses that extend to aerospace, defense and industrial applications. Empire said the next challenge is demonstrating the large resource can support an economically viable operation using the processing route it has developed.