Empire Metals Limited, an AIM-quoted resource exploration and development company, has announced its decision not to extend the Gindalbie Tribute Agreement, aligning with the company's strategy to accelerate the development of the Pitfield Titanium Project in Western Australia. Shaun Bunn, Managing Director, emphasized the company's rapid progress in establishing the scale, grade, and nature of the titanium mineralization at Pitfield. The recent strengthening of the technical expertise positions the company to expedite the economic development of the Pitfield Titanium Project.
In line with the focus on Pitfield, Empire Metals has chosen to rationalize its exploration portfolio and not renew the Tribute Agreement covering the Gindalbie tenement, adjacent to the Eclipse Gold Project near Kalgoorlie in Western Australia. The company aims to concentrate all its energy and resources on Pitfield, targeting a maiden resource in 2024 and the construction of a demonstration plant in the following year.
The Eclipse and Gindalbie Gold Project, comprising two adjacent mining leases near Gindalbie, have been a part of Empire Metals' portfolio. The company holds a 75% interest in the Eclipse mining lease and had entered into a Tribute Agreement for exclusive exploration, development, and mining rights within the Gindalbie area. However, the decision not to extend the Tribute Agreement reflects the company's strategic shift towards prioritizing the Pitfield Titanium Project.
Empire Metals' exploration efforts at Gindalbie and Eclipse have yielded significant findings, including high-grade gold mineral inventory and the identification of a kaolin-rich zone. Despite these discoveries, the company has opted not to extend the Gindalbie Tribute Agreement, redirecting its focus and resources towards the accelerated development of the Pitfield Titanium Project.
The company's decision to rationalize its portfolio and concentrate on the Pitfield Titanium Project underscores its commitment to advancing the economic development of its key projects. Empire Metals continues to position itself for significant progress at Pitfield, with upcoming updates expected to provide further insight into the project's mineralogical and metallurgical studies.
For further information, interested parties can visit the company's website or contact the provided representatives.