Strategic Minerals (LSE:SML) announced new assay results from drillhole CRD041 at its Redmoor tungsten-tin-copper project in Cornwall, confirming the continuation of the high-grade Sheeted Vein System within the largely underexplored western, tin-rich section of the deposit. The drilling also identified additional tin-dominant mineralised zones beyond the established SVS structures, along with new mineralisation outside the current resource model, supporting the company’s geological interpretation and indicating potential for future resource expansion.
Management stated that the objectives of the 2025 drilling programme have been successfully achieved, including verification of historical drilling data, confirmation of structural and grade continuity, and testing of areas within the existing JORC Exploration Target. Against a backdrop of strengthening global pricing trends for both tungsten and tin, the company believes forthcoming resource and economic updates — supported through the Shared Prosperity Fund programme — could further enhance Redmoor’s standing as one of Europe’s highest-grade undeveloped tungsten projects.
The company’s outlook benefits from improved financial performance recorded in 2024 and supportive technical momentum in the share price. However, valuation metrics remain stretched, with a high P/E ratio and no dividend yield data, while overbought technical indicators suggest elevated near-term risk.
More about Strategic Minerals
Strategic Minerals plc is an international exploration and production company listed on AIM and USOTC. Its flagship Redmoor project in southeast Cornwall focuses on tungsten, tin and copper resources, developed through its wholly owned subsidiary Cornwall Resources Limited. The group aims to advance high-grade polymetallic assets in Europe amid evolving global demand for critical and industrial metals.
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