Strategic Minerals (LSE:SML) has announced additional encouraging assay results from drillholes CRD038 and CRD040 at its Redmoor tungsten-tin-copper project in Cornwall, demonstrating an extension of mineralisation within the deposit. The results confirm the existence of sheeted vein system mineralisation in an area of the JORC Exploration Target that had not previously been tested, while also expanding the known limits of the orebody.
The newly reported drilling intersected broad zones of consistent and high-grade tungsten and tin mineralisation, alongside notable copper and silver content. The results also verified historical drilling data from the 1980s, strengthening confidence in the project’s geological model. Management believes these findings will help support a larger and more reliable future mineral resource estimate, potentially reducing the scale of required infill drilling and accelerating progress toward a prefeasibility study.
The company continues to position Redmoor as a significant undeveloped tungsten resource within Europe, with the latest results reinforcing the project’s importance in the regional critical metals supply chain. Stronger resource confidence could also enhance the project’s development potential and strategic value.
From a financial standpoint, Strategic Minerals benefited from improved performance during 2024, while technical indicators currently suggest a strong upward trend in its shares. However, valuation remains stretched, with a high price-to-earnings ratio and no available dividend yield data. Additionally, technical signals indicating overbought conditions may present short-term volatility risks.
More about Strategic Minerals
Strategic Minerals plc is an AIM-listed global exploration and production company focused on advancing the Redmoor tungsten-tin-copper project in southeast Cornwall, United Kingdom. Through its wholly owned subsidiary, Cornwall Resources Limited, the company is targeting high-grade tungsten and tin mineralisation, positioning Redmoor as a potentially leading undeveloped tungsten resource in Europe and an important contributor to the global critical minerals sector.
Leave a Reply