Strategic Minerals accelerates Redmoor Cu-W-Sn project, expects significant resource upside
() , an exploration and mining company focused on critical minerals, issued an update on progress and operations at its wholly-owned subsidiary Cornwall Resources (CRL).
CRL is advancing the Redmoor Tungsten-Tin-Copper project in Cornwall through a current relogging and sampling campaign of its historical drill core, while undertaking regional exploration of the newly acquired Tamar Valley licence area.
Strategic Minerals noted that CRL has relogged 3,786m of the historical core so far from 6 boreholes or c. 27% of CRL's existing drill core. Strategic highlighted the potential for a significant resource upgrade at Redmoor based on previously unsampled mineralisation.
As part of the work programme, 177.45m of total sample length from 129 diamond drill core samples has been shipped for geochemical analysis, with results expected within 2 months. Initial recon mapping of the newly acquired Tamar Valley licence area has also commenced along with desk studies, and CRL has now begun sampling previously unidentified mineralsed zones within the license.
Within Tamar Valley, CRL has focused on the highly prospective Plantation Vein, a historical Tin-Tungsten (Sn-W) target. Between 1967 and 1970, 22 diamond drill holes were drilled along the Plantation Vein that established the target, followed by minor underground exploration of the lode in the early 1970s.
Dennis Rowland, Project Manager of CRL, commenting: "CRL's geological team, led by Senior Geologist Rowan Thorne, are advancing the relogging and sampling project with potential for significant results. The pace of this project has increased with shipments of additional drill core samples expected at regular intervals in coming months.
"Following completion of this program of works, both our understanding of the mineralised zones and the structural geology within the Redmoor deposit will have increased and the potential for resource(s) upside, prior to further drilling, would have been thoroughly assessed from the invaluable data generated by the works."
View from Vox
Strategic Minerals' CRL is rapidly advancing the recently enlarged Redmoor project in Cornwall, with potential for significant low-cost upside based on relogging completed so far. Around 27% of the existing drill core has been relogged and 177m of sample length has been sent to the lab, with additional samples continuously being readied for dispatch.
Results are expected within 2 months that should prompt a reevaluation of the existing resource size and grade, with a highly likely upgrade following shortly after. Anticipated positive results should also speed up the rest of the relogging and sampling campaign, moving the project closer to production.
Additionally, initial results from the newly acquired Tamar Valley have been encouraging, with exploration and target identification proceeding at pace, particularly in the highly prospective Plantation Vein. CRL also reported a number of positive meetings with the Duchy of Cornwall, tenants, and local parish councils, maintaining good stakeholder relations.
Overall, plenty of targets are being investigated from the Deep Digital Cornwall project and initial exploration of Tamar Valley, with follow-up soil sampling and stream sediment sampling programs underway, promising material upside. The studies will clarify historical data and also speed up identification of new targets.
Redmoor's economics have been bolstered by recent upward moves in tin, tungsten and copper prices, which combined with the aforementioned value inflection points, gives investors much to look forward to in the coming months.
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