La empresa conjunta del proyecto Pitfield incluirá todos los minerales
Imperio Metales Limitado / LON: EEE / Sector: Recursos Naturales
17 abril 2024
Imperio Metales Limited
("Imperio"o" la Compañía ")
Pitfield Project Joint Venture Agreement to Include All Minerals
Empire Metals Limited (LON:EEE), la compañía de exploración y desarrollo de recursos cotizada por AIM, is pleased to announce that the terms of the Joint Venture Agreement ('JV') covering the pitfield Proyecto en Australia Occidental ('Pitfield' o el 'Proyecto') have been amended to include all minerals discovered within the Project tenements.
Under the revised terms of the 70% Empire and 30% Century Minerals Pty Ltd ('Century') JV, there are no exemptions or other separate mineral rights applying to Pitfield. The consolidation of all minerals under the one JV simplifies the ownership structure and eliminates the potential for multiple parties to be working on the same ground, exploring for different commodities and allows for the continued rapid development of Pitfield.
Destacados
· Under the original terms of the Sale and Purchase Agreement (dated 6th April 2022) Century retained 100% of the rights to Mineral Sands and the JV retained 100% of all mineral rights to any and all bedrock mineral deposits, inclusive of titanium minerals.
· Although both Empire and Century have made it clear that the titanium mineralisation discovered at Pitfield, hosted within the bedded sedimentary bedrock, was not classified as Mineral Sands and thus formed part of the existing JV property, the consolidation of all minerals under the JV prevents other potential third parties in the future from exploring for other minerals and allows for the continued and unencumbered development of Pitfield.
· Under the amended agreement, Empire has secured a redefinition of rights at the Pitfield Project, to 70% of all minerals present regardless of their physical or chemical nature, for a consideration of A$250,000 (approximately £129,000). This investment is aimed at continuing to create value for all shareholders.
· The consideration will be funded from existing cash reserves and will not impact the Company's strong financial position and fully funded work programmes.
Ed Baltis, Century Director and Major Shareholder, said: "We always held the view that Pitfield had the potential of becoming a world class mining project and we are delighted with the progress that is being made towards that goal under the stewardship of Empire Metals. The fact that the titanium-rich mineral system discovered at Pitfield is not a mineral sands deposit was never in question, and both Empire and Century have worked together to first explore the extent of this extraordinary mineral system and then to identify geological controls that define the higher grades. The consolidation of all minerals under the JV was a logical and strategically important next step, one that supports Empire and allows them to focus on unlocking the inherent value of this huge titanium-rich mineral system."
Shaun Bunn, Director General, dijo: "I am extremely pleased that, in collaboration with Century, all minerals discovered at Pitfield will be owned by the JV in which Empire, as the 70% majority owner, acts as manager and operator. This not only simplifies the ownership structure it also removes any perceived ambiguity in relation to distinguishing the difference between bedrock hosted titanium minerals and surface mineral sands. We have a great working relationship with Century, whose principals have personally assisted our exploration team in planning and executing the field work to date."
El proyecto Pitfield
Ubicada dentro de la región del Medio Oeste de Australia Occidental, cerca de la ciudad de Three Springs, en el cinturón de trigo del norte, Pitfield se encuentra a solo 313 km al norte de Perth y 156 km al sur de Geraldton, la capital de la región del Medio Oeste (consulte la Figura 1).
Figura 1. Ubicación del proyecto Pitfield que muestra el Infraestructura y servicios de la región Medio Oeste
Western Australia is ranked as one of the top mining jurisdictions in the world according to the Fraser Institute's Investment Attractiveness Index published in 2023, and has mining-friendly policies, stable government, transparency, and advanced technology expertise. Pitfield has existing connections to port (both road & rail), HV power substations, and is nearby to natural gas pipelines as well as a green energy hydrogen fuel hub, which is under planning and development.
Pitfield se encuentra en un entorno geológico único a lo largo del límite occidental del Cratón Yilgarn, dentro de la Cuenca Yandanooka, que consiste principalmente en rocas sedimentarias siliciclásticas intercaladas (consulte la Figura 2). Es importante destacar que la Cuenca de Yandanooka se encuentra cerca de la unión de dos estructuras principales, la Falla Darling y el Lineamento Yandanooka-Cape Riche, el probable sistema de tuberías para los fluidos hidrotermales que han alterado fuertemente las rocas sedimentarias dentro de la Cuenca y fueron responsables del evento de mineralización de titanita. .
Figure 2: Simplified geological section of the Yandanooka Basin. Note the sandstone-rich beds which are host to higher grade TiO2 mineralisation. West-East section looking North.
The drilling to date has confirmed that there is extensive, higher-grade TiO2 mineralización en los gruesos lechos ricos en arenisca, que están regresando consistentemente TiO de mayor ley2 mineralisation than the adjacent conglomerate or siltstone-rich beds. Two, near-surface, km-scale zones of higher grade bedded sandstone-rich TiO2 mineralisation have been identified and are the focus of delineation for initial resource development and to provide necessary metallurgical samples.
About Century Minerals:
Century Minerals Pty Ltd, a company registered in Australia, is a private exploration company established by two well known and respected Exploration Geologists, Mr Ed Baltis (former WMC Resources and Gold Fields exploration manager), and Mr Steve Hart (former Plutonic and Basin Minerals exploration geologist).
In April 2022 Empire acquired a 70% interest in three highly prospective Australian-based exploration projects from Century Minerals. Two of the projects, the Pitfield Project and the Walton Project are in Western Australia whilst the Stavely Project lies within the Stavely Arc region of Victoria.
Divulgación de la regulación de abuso de mercado (MAR)
Cierta información contenida en este anuncio se habría considerado información privilegiada a los efectos del artículo 7 del Reglamento (UE) n.º 596/2014, incorporado a la legislación del Reino Unido por la Ley de (Retirada) de la Unión Europea de 2018, hasta la publicación de este anuncio.
** ENDS **
Para más información, visite www.empiremetals.co.uk o contacte:
Imperio Metales Ltda Shaun Bunn / Greg Kuenzel / Arabella Burwell |
Tel: 020 4583 1440 |
SP Angel Corporate Finance LLP (Nomad & Broker) Ewan Leggat / Adam Cowl / Kasia Brzozowska | Tel: 020 3470 0470 |
Shard Capital Partners LLP (Conjunto Broker) maldito damon | Tel: 020 7186 9950 |
St Brides Partners Ltd (relaciones públicas financieras) Susie Geliher/Charlotte Page | Tel: 020 7236 1177 |
Acerca de Empire Metals Limited
Empire Metals es una empresa de exploración y desarrollo de recursos que cotiza en AIM (LON: EEE) y cuenta con una cartera de proyectos que comprende participaciones en cobre, titanio y oro en Australia y Austria.
La estrategia de la Compañía es desarrollar una cartera de proyectos en diferentes etapas de la curva de desarrollo. Su atención actual se centra en el Proyecto Pitfield en Australia Occidental, que ha demostrado contener un sistema mineral gigante rico en titanio recientemente reconocido que alberga un descubrimiento de titanio de importancia mundial.
La Compañía también tiene tres proyectos de exploración más en Australia; el Proyecto Eclipse y el Proyecto Walton en Australia Occidental, y el Proyecto Stavely en la región Stavely Arc de Victoria, además de tres proyectos de metales preciosos ubicados en una región históricamente productora de oro de alta ley en Austria.
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