Strategic Minerals identifies additional mineralisation at Redmoor

(Sharecast News) - Strategic Minerals said on Tuesday that further analysis of recent drilling at its Redmoor tungsten-tin-copper project in Cornwall had identified additional mineralisation outside the currently modelled resource, while a new drilling campaign continued to progress on schedule. The AIM-listed miner said 201 additional samples from drill hole CRD041 had revealed a number of tin- and tungsten-rich structures beyond the existing Redmoor resource boundary, including an intersection of 1.0 metre grading 0.67% tin, 0.20% tungsten trioxide and 0.09% copper from 291.1 metres.

Other notable intersections included 1.95 metres at 0.62% tin from 353.05 metres and 1.65 metres at 0.45% tin from 263.0 metres.

The company said the results demonstrated continuity between drill holes CRD040 and CRD041 and could support future resource expansion drilling.

Strategic Minerals also reported that drill hole CRD043 had successfully intersected the full extent of the Redmoor sheeted vein system, with visual observations identifying mineralised structures containing wolframite, cassiterite and chalcopyrite.

Laboratory assays remain pending.

A further hole, CRD044, had reached 455.3 metres of its planned 650-metre depth.

Managing director Dennis Rowland said the geological team was generating datasets to support the project's prefeasibility study and future resource upgrades, while executive director Mark Burnett said Redmoor continued to deliver "high-quality outputs" as the company prepared for a significantly expanded drilling programme once planning approvals are received.

At 0948 BST, shares in Strategic Minerals were down 2.76% at 4.32p.

Reporting by Josh White for Sharecast.com.

See latest RNS on Investegate