(Alliance News) - Strategic Minerals PLC on Tuesday said it has identified additional tungsten and copper mineralisation at the Redmoor Project in Cornwall, England.
The London-based miner with projects in New Mexico, South Australia and the UK said its wholly owned subsidiary Cornwall Resources Ltd is continuing to develop the project through relogging and sampling of its diamond drill core.
The firm said assay data confirms additional mineralisation within and outside the existing deposit, with the potential to contribute to an updated mineral resource estimation.
The results include tungsten trioxide grades of 0.33% and copper grades of 0.34%.
It will now relog the 2017 drill core to derisk future drilling programmes, with an additional 7,022 metres of core remaining for review, the company said.
Project Manager Dennis Rowland said: "I am pleased to note that these results further validate the potential upside within the Redmoor deposit through the reassessment of CRL's existing drill core using enhanced methodologies.
"This cost-effective approach continues to yield positive outcomes while also mitigating risks for future exploration programs at Redmoor... We anticipate shipping further samples and will report the results in due course once this programme is complete."
Strategic Minerals shares were up 11% to 0.25 pence in London on Tuesday afternoon.
By Michael Hennessey, Alliance News reporter
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Strategic Minerals (SML)
