Strategic Minerals (LSE:SML) has announced the discovery of a significant new tin-dominant mineralised structure at its Redmoor project in Cornwall, potentially expanding the scale of the company’s resource base.
The newly identified area, named the North Tin Zone, was defined through updated geological modelling that incorporated recent drilling results, re-logging of historic core samples and validated exploration data dating back to the 1980s from Southwest Minerals. The work indicates a laterally continuous mineralised structure distinct from Redmoor’s established Sheeted Vein System (SVS) deposit, with multiple cassiterite-bearing intersections demonstrating encouraging geological continuity.
Strategic Minerals plans to incorporate the North Tin Zone into its upcoming Mineral Resource Estimate update, alongside an assessment of Reasonable Prospects for Eventual Economic Extraction. Management believes the discovery could lead to the definition of a separate tin resource outside the existing SVS deposit, materially increasing the project’s overall mineral inventory.
The company said the finding highlights Redmoor’s long-term growth potential and strengthens its positioning as a polymetallic development project with exposure to critical minerals experiencing strong global demand. Ongoing relogging and sampling programmes are aimed at identifying further non-SVS mineralised structures across the project area.
Strategic Minerals’ outlook is supported by improved financial performance during 2024 and positive technical trading momentum. However, valuation metrics remain elevated, with a high price-to-earnings ratio and lack of dividend yield data limiting support, while overbought technical indicators suggest increased near-term volatility risk.
More about Strategic Minerals
Strategic Minerals plc is an international exploration and production company focused on the Redmoor tungsten–tin–copper project in southeast Cornwall. Through its wholly owned subsidiary Cornwall Resources Limited, the company is developing polymetallic deposits containing tungsten, tin, copper and silver — commodities benefiting from tightening global supply, increasing industrial demand and growing strategic importance within critical mineral supply chains.
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