viewStrategic Minerals PLC

Assays indicate Redmoor among world's top tin/tungsten projects says Strategic Minerals

A second phase of drilling is now planned that will see a further three to six holes

picture of Cornwall
Emphasis has shifted to highgrade zones at Redmoor

Strategic Minerals Plc (LON:SML) has reported good tin grades from first drilling at the Redmoor prospect in Cornwall, but their nature has meant a shift in approach going forward.

John Peters, managing director, said the assays from ten of the 14 holes drilled so far suggest a better (and easier) mining prospect may be the high-grade zones within the sheeted vein system rather than following lodes. 

READ: Strategic Minerals PLC extends drilling at Redmoor

WATCH: Boss encourage by early drill results at Redmoor

A second phase of drilling is now planned that will see a further three to six holes by the end of the year with the aim of a resource update early in 2018.

Reviewing 1980’s drilling results had also identified 31 significant intercepts within SVS high-grade zones, Strategic Minerals added.

Cornwall Resources Limited (CRL) is carrying out the work at Redmoor, which has tungsten potential as well as tin.

WATCH: 'We'll do it' - Strategic Minerals' John Peters on their 5-year £100mln market cap target

CRL is a joint venture between Strategic and NAE, which has committed £150,000 to the phase 2 drill programme.

Assay results from the holes drilled so far included 14.8m at 1% tin at a depth of 246m and 28.2m at 0.81% from 299m.

Tin prices have stabilised recently, while tungsten is rising rapidly. 

Shares were down 0.35% to 2.29p late in Thursday trading.

--Updates for share price and video link--

Quick facts: Strategic Minerals PLC

Price: 0.425 GBX

Market: AIM
Market Cap: £7.28 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Strategic Minerals PLC named herein, including the promotion by the Company of Strategic Minerals PLC in any Content on the Site, the Company...



New Age Exploration advancing Redmoor and Otago, exploring Lochinvar options

New Age Exploration Ltd (ASX:NAE) chairman Alan Broome provides Proactive Investors with a thorough update on the company's international portfolio of assets. The UK Redmoor project, being developed in JV with Strategic Mineral PLC (LON:SML), is advancing at an opportune time with respect...

on 15/2/19

2 min read