Mining News Update

Redmoor Drilling Program Ends the Year On A High

The latest exploratory results back from the Redmoor Tin-Tungsten project have produced some outstanding results with high-grade intercepts that have given the companies involved great encouragement.

Strategic Minerals plc, a producing mineral company actively developing projects prospective for battery materials, is pleased to announce continued strong assay results from the final three holes of the 2018 Phase 1 drilling programme at its Redmoor Tin-Tungsten Project, being undertaken through its 50% owned joint venture vehicle Cornwall Resources Limited (“CRL”). In addition, exceptional assays have been received for the first hole of the Phase 2 drilling programme.

Highlights:

  • Outstanding intercepts of up to 29.68%, 15.55% and 13.15% tin equivalent for hole CRD028.
  • Current results are the highest-grade intercepts yet drilled. Reinforcing the calibre of the drilling campaign and the Redmoor Project overall.
  • Further bonus hole planned – the efficiency of the CRL Team has allowed one supplementary hole (CRD032) to be added to the Phase 2 programme, funded from within the current budget. We expect this hole to further boost the potential for resource growth.
  • Assay results from four further holes in the Redmoor 2018 drilling programme continue to show more evidence of high-grade zones within the Sheeted Vein System (“SVS”).
  • Phase 2 drilling has progressed rapidly, with the planned four holes now complete (CRD028, CRD029, CRD030, and CRD031). Results for CRD028 have provided further confirmation of improving grades at depth.
  • Drilling is expected to complete during December on the final bonus hole (CRD032). Following this, and the subsequent receipt of assay results, CRL plans to carry out an update to its Inferred mineral resource in Q1 2019.
  • Full Results from Phase 2 are likely to be available early in Q1 2019.
  • In preparation for a future Pre-Feasibility Study, and to add to existing test work data, preliminary ore characterisation metallurgical test work on samples from Redmoor has commenced at consultant, Wardell Armstrong International’s laboratory in Cornwall.

Commenting, Peter Wale, Executive Director, Strategic Minerals and Director, CRL, said:

The sustained superb assay results from Redmoor which have surpassed our expectations continue to highlight exciting high-grade tin equivalent values.

We have great confidence for the potential to both increase the resource tonnage and grade at Redmoor and demonstrate the scope for it to become a notably attractive project when these results are converted into a resource estimate early in 2019.

Being able to incorporate a valuable further hole into the programme’s timeline and budget clearly demonstrates the calibre of our CRL team, who have already shown success at extending known mineralisation beyond the existing resource model.

SML remains very active across all its projects, we look forward to updating shareholders on our continued progress both at Redmoor and elsewhere.”

The video below from the Proactive Investors Stocktube YOuTube channel features Strategic Minerals plc executive director Peter Wale and Cornwall Resources’ exploration manager Brett Grist who provide a fascinating insight into the developments at the Redmoor tin / tungsten project in Cornwall.

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