New Mineralised Zones Identified Beyond Existing Resource Area
Strategic Minerals (LSE:SML) has released further assay results from its 2025 drilling campaign at the Redmoor project in Cornwall, revealing additional tin- and tungsten-bearing mineralisation beyond the boundaries of the current resource model.
The latest results identified several new mineralised structures north of the existing Redmoor resource, including intersections such as 1.00 metre grading 0.67% tin and 0.20% WO₃. These discoveries sit outside the presently defined resource area and are expected to contribute to future geological modelling and resource growth.
Management believes the results reinforce the broader mineral potential of the Redmoor project and provide additional targets for follow-up exploration.
Drilling Programme Continues to Deliver Encouraging Results
The company has completed drilling of hole CRD043, which intersected visually significant mineralised vein systems.
Meanwhile, drilling of hole CRD044 is progressing as planned, with operations continuing to advance on schedule.
Strategic Minerals is also undertaking a review and re-logging of historical drill core, which has already identified additional tin-bearing intervals that could contribute to a better understanding of the project’s mineralisation.
The combined programme is helping to refine the geological model and improve targeting for future drilling activities.
Expanded Campaign Set to Accelerate Resource Development
Planning approval for a larger drilling programme is nearing completion, positioning the company to significantly increase exploration activity at Redmoor.
Additional drilling rigs are expected to be mobilised once approvals are finalised, enabling a broader campaign focused on increasing resource confidence and expanding known mineralisation.
Management expects the enhanced drilling effort to support future resource upgrades and move the project closer to the prefeasibility stage.
Redmoor Continues to Advance as a Strategic UK Critical Minerals Project
The latest exploration success strengthens Redmoor’s position as one of the UK’s most significant emerging critical minerals projects.
With exposure to tin, tungsten and copper, the project is aligned with growing demand for strategically important metals used across manufacturing, technology and energy-transition industries.
The company believes continued exploration success could further enhance Redmoor’s importance within the UK and European critical minerals supply chain.
Outlook Supported by Exploration Progress and Financial Stability
Strategic Minerals’ outlook reflects a combination of operational progress and financial resilience.
The company benefits from a relatively strong balance sheet with low leverage, providing financial flexibility to support exploration activities.
However, profitability and free cash flow have been inconsistent, creating a mixed financial picture.
Technical indicators remain somewhat cautious in the near term, with the share price trading below key short-term averages and momentum indicators remaining subdued.
Valuation metrics appear balanced, supported by a moderate earnings multiple, although the absence of a dividend limits additional investor appeal.
More about Strategic Minerals
Strategic Minerals plc is an AIM- and OTC-listed exploration and production company focused on developing critical mineral assets.
Its principal growth project is the Redmoor tungsten-tin-copper deposit in Cornwall, operated through wholly owned subsidiary Cornwall Resources Limited. The project is focused on supplying key minerals required for industrial, technological and energy-transition applications, positioning the company within the growing European critical minerals market.
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