Cornwall Resources News Update – March 2021

March 02nd 2021

The following progress has been made with the Redmoor Project;

1. On December 3rd 2020 Strategic Minerals the parent company of Cornwall Resources (CRL) announced it had raised £700,000 to support its USA operation and two projects in Cornwall, and South Australia.

2. On February 15th 2021 it was announced that CRL had been part of a group who had successfully received approval for their ‘Deep Digital Cornwall Project’. This was led by the University of Exeter’s Camborne School of Mines (CSM) in which CRL and Cornish Lithium are delivery partners. The funding has been awarded by the European Regional Development Fund (ERDF) and the total project value is £4.1m. The key highlights are;

  • The Redmoor exploration licence area will be used as a field laboratory for collection of geochemical and geophysical data, which will also provide CRL with information relevant to a number of new projects within its mineral rights.
  • CRL is to receive up to £446,063 of grant funding for its part in the project from ERDF, in return for CRL contributing a further 20%.
  • CRL will benefit from access to international-level research and collaboration concerning the use of digital exploration data, through CSM.
  • It provides positive support for Cornwall and its natural resources sector.

3. On February 23rd 2021 it was announced that CRL is to carry out an exploration program focusing on tin and copper in the Redmoor West area. CRL plans to implement a low-cost combined trench and handheld powered-auger sampling program to assess the potential of these anomalies as targets for future reconnaissance drilling. This will be carried out on agricultural land away from houses and is not expected to impact on residents.

4. CRL continue to play an important role in the Critical Minerals Association which is working to inform the government on future policies on producing critical minerals in the UK, which are needed to support the government’s aim to achieve, “at least a 68% reduction in greenhouse gas emissions by the end of the decade”.

5. Tin and copper prices are at 10-year highs and the tungsten price has also started to increase (tin US $27,095/tonne, copper US $9,479 and tungsten US $25,500/tonne). These increasing metal prices will greatly help in getting future financing for the next stage of the Redmoor project.

Further information on the above can be found on the Strategic Minerals website and Cornwall Resources website.

Jeff Harrison – Non-Executive Director SML

Related Articles:

Mining Update October 2022

Mining Update October 2022

Excerpt from the Western Morning News Thursday 29th September 2022 'As the Cornish Mining Conference takes place in Falmouth this week, demand for secure supplies of  metals and minerals in an increasingly volatile world presents a huge opportunity for Cornwall and...

Cornwall Resources Ltd Community Update Event

Cornwall Resources Ltd Community Update Event

Location: Callington Town Hall Town Hall, New Road, Callington, PL17 7BD Dates: Wednesday 12thOctober at 5:30pm - 8pm Thursday 13thOctober at 2:30pm - 5:30pm Friday 14thOctober at 4pm- 7pm. Cornwall Resources Limited (CRL) is the operating company for the Redmoor...

MULTI-USE GAMES AREA – Launceston Road Recreation Ground

MULTI-USE GAMES AREA – Launceston Road Recreation Ground

Callington Town Council are hoping to install a Multi-Use Games Area (MUGA) in the Launceston Road Recreation Ground. The Council are at the present time submitting a funding bid to the Community Infrastructure Levy Fund to help towards the funding of this project....