Highlights

  • Company launches largest-ever drilling campaign at its Pitfield Project in Western Australia.
  • Total of 41,250 metres of drilling planned, including 683 Air Core (AC) and 71 Reverse Circulation (RC) holes.
  • Drilling aims to update Mineral Resource Estimates (MREs) at Thomas and Cosgrove Prospects.
  • Updated MREs expected in Q3 2026, increasing confidence in Measured and Indicated resources.

Empire Metals Ltd (LSE:EEE,) saw its shares fall slightly by 0.69% to GBX 35.95 in morning trading on 17 February 2026. Despite today’s dip, the stock remains up 284.49% over the last 12 months, reflecting sustained investor interest in the company’s high-grade titanium exploration projects.

Today’s decline came despite Empire Metals announced the commencement of its largest drilling campaign to date at the Pitfield Project in Western Australia. The programme is designed to expand the existing Mineral Resource Estimates (MREs) and enhance the confidence of Measured and Indicated resources at the Thomas and Cosgrove Prospects, while exploring further areas of the titanium-rich system.

Largest Drilling Programme at Pitfield Project

The newly launched campaign will involve a total of 754 drill holes, comprising:

  • 683 Air Core (AC) drill holes totalling approximately 34,150 metres.
  • 71 Reverse Circulation (RC) drill holes totalling approximately 7,100 metres.

This combined 41,250 metres of drilling will utilise three AC rigs and two RC rigs, with all work expected to be completed by mid-April 2026.

AC drilling is a cost-effective method commonly used for shallow exploration and collecting bulk metallurgical samples, while RC drilling allows for deeper exploration and more precise sampling. The campaign will cover an area 37 km long and 12 km wide, significantly increasing the portion of the Pitfield Project being explored.

Pitfield Project: A High-Grade Titanium System

The Pitfield Project hosts a titanium (TiO₂) resource of global significance, currently reporting an MRE of 2.2 billion tonnes at 5.1% TiO₂, equivalent to 113 million tonnes of contained titanium dioxide.

  • Thomas Prospect: Weathered zone resource of 1.26 billion tonnes at 5.2% TiO₂, with a high-grade Indicated Resource of 697 million tonnes at 5.3% TiO₂.
  • Cosgrove Prospect: Current MRE of 430 million tonnes at 5.8% TiO₂.

Titanium mineralisation begins at surface, showing consistent grades along both strike and depth, with the MRE covering just 20% of the known mineralised footprint, leaving substantial potential for further expansion.

Previous Drilling and Sample Analysis

Since the maiden drilling campaign at Pitfield began in March 2023, Empire Metals has completed 390 drill holes for 33,001 metres, including Diamond Drilling (DD) for ore sampling, RC, and AC drilling. Recent diamond drilling at Thomas focused on the high-grade core to generate samples for metallurgical and geotechnical analysis. Final assay results are expected in Q1 2026.

Exploration Focus and Mineral Resource Estimates Update

The current campaign will delineate the full extent of the titanium-rich mineral system, increasing the drilled area from 20% to 60–70% of the identified mineralisation zone. Drilling at Thomas will follow a 100m x 100m grid over the high-grade core to increase confidence in Measured and Indicated resources. Cosgrove drilling will extend the MRE to the north and south.

All drillholes will be geologically logged and sub-sampled every 2 metres, with samples analysed at Intertek Analytical Laboratory in Perth. The updated MREs for Thomas and Cosgrove are expected in Q3 2026, supporting future mine design, Ore Reserve estimation, and study work.

FAQs

Why did Empire Metals shares fall on 17 February 2026?
Shares declined 0.69% to GBX 35.95 despite the commencement of a major drilling campaign, likely due to short-term market volatility.

What is the scale of the Pitfield Project drilling programme?
The campaign includes 754 drill holes, totalling 41,250 metres, covering both AC and RC drilling across Thomas and Cosgrove Prospects.

What are Measured and Indicated resources?
Measured and Indicated categories reflect the confidence level in mineral quantities and grades, important for mine planning and investment decisions.

When will the updated MREs be published?
Empire Metals expects updated Mineral Resource Estimates for Thomas and Cosgrove in Q3 2026.