Strategic Minerals Completes Over 5,000 Metres of Drilling at Redmoor Tungsten Project

Strategic Minerals (LSE:SML) has completed more than 5,000 metres of infill drilling at its Redmoor tungsten-copper-tin project in Cornwall, with nine drillholes completed across three drilling pads.

The company said the programme has progressed on schedule and within budget, with all nine holes intersecting the full thickness of the project’s sheeted vein system.

Visible tungsten, copper and tin mineralisation was identified in each drillhole, providing additional geological information for the ongoing assessment of the deposit.

The drilling programme forms part of Strategic Minerals’ work to advance Redmoor towards a prefeasibility study, including further evaluation of mineral continuity and the characteristics of the deposit.

To support the programme, the company has increased its site workforce to 16 employees and expanded warehouse capacity.

Strategic Minerals has also engaged specialist laboratories and industry partners to undertake metallurgical, geotechnical and geophysical testing. The results will contribute to future technical studies and the assessment of potential mining and processing methods.

The company noted that current tungsten ammonium paratungstate (APT) prices are trading above the assumptions used in the project’s previous upside economic scenario.

Management believes sustained pricing at these levels could improve the project’s economic outlook, although the impact will depend on future market conditions and the results of ongoing technical and economic assessments.

Redmoor is being developed through Strategic Minerals’ wholly owned subsidiary, Cornwall Resources Limited.

The project hosts a sheeted vein system containing wolframite, chalcopyrite and cassiterite, minerals associated with tungsten, copper and tin.

Strategic Minerals is listed on AIM and the US OTC market and operates mineral exploration and production assets. Its current development activities at Redmoor are focused on drilling, resource evaluation and technical studies ahead of the proposed prefeasibility stage.