REG - Cornish Metals Inc. - WET COMMISSIONING OF MINE WATER TREATMENT PLANT

Cornish MetalsAnnouncement

28/09/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230928:nRSb9109Na&default-theme=true

RNS Number : 9109N  Cornish Metals Inc.  28 September 2023

 

CORNISH METALS COMMENCES WET COMMISSIONING OF SOUTH CROFTY MINE WATER
TREATMENT PLANT

 

Vancouver, September 27, 2023

Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a
mineral exploration and development company focused on its South Crofty Tin
Project ("South Crofty" or the "Project") in Cornwall, United Kingdom, is
pleased to report that it has commenced wet commissioning of its newly
constructed Mine Water Treatment Plant ("MWTP") at South Crofty.

Key Points

 

·    The MWTP is designed to treat 25,000m(3)/day of water pumped directly
from South Crofty Mine;

·    The plant uses the proven High Density Sludge ("HDS") process
technology to treat raw mine water and meet the Company's permitted standards
for discharge into the nearby Red River;

·    Cornish Metals' project delivery team is being supported by the plant
designer, equipment suppliers and contractors to fully test and commission
every aspect of the process before commencing discharge to the Red River; and

·    Commissioning and building of the high density sludge bed is expected
to take up to three weeks, with full dewatering of the mine anticipated to
commence in October.

 

Richard Williams, CEO and Director of Cornish Metals, stated; "The
commencement of wet commissioning at the South Crofty MWTP is another exciting
step towards the dewatering of South Crofty Mine. Our project team, supported
by a small army of dedicated local contractors, has worked extremely hard over
the last 12 months to take the MWTP from a conceptual flowsheet design through
to a fully constructed plant."

 

 

MWTP Commissioning

The MWTP uses the proven HDS water treatment technology to remove metals and
other contaminants from the mine water. The plant commissioning process takes
place in several stages:

1.    Fill all the reaction tanks with water and check for leaks;

2.  Electrically test each of the motor and control circuits, commission the
reagent addition modules, supplied as package plants from third party
suppliers, and receive first fills of all reagents; and

3.    Start running the plant and treating the water to allow a bed of
thickened (high density) sludge to build up within the plant. This sludge
building step is an essential part of the HDS process and is required to
achieve the permitted water quality standards for discharge. During the sludge
building process, the raw water from the mine is treated through the plant and
then re-circulated back into the mine. Not until the plant is fully
operational and performing to the required standards will any treated water be
discharged to the Red River.

 

 

Background

·    South Crofty is a historical, high-grade, underground tin mine that
started production in the sixteenth century, and continued operating until
1998;

·    The Project possesses Planning Permission for underground mining,
valid to 2071, Planning Permission to construct a mine water treatment plant,
new processing facilities, all necessary site infrastructure, and an
Environmental Permit to dewater the mine;

·    South Crofty has the 4(th) highest grade tin Mineral Resource
globally and benefits from the presence of multiple shafts that can be used
for future operations;

·    Tin is a Critical Mineral as defined by the UK, USA, and Canadian
governments, with approximately 75% of the tin mined today coming from China,
Myanmar and Indonesia;

·    There is no primary tin production in Europe or North America;

·   Responsible sourcing of critical minerals and security of supply are
key factors in the energy transition and technology growth;

·    South Crofty benefits from strong local community and regional and
national government support. The Project could generate 250 - 300 direct jobs.

ABOUT CORNISH METALS

Cornish Metals is a dual-listed company (AIM and TSX-V: CUSN) focused on
advancing the South Crofty high-grade, underground tin Project through to
delivery of a Feasibility Study, as well as exploring its additional mineral
rights, all located in Cornwall, United Kingdom. The former producing South
Crofty tin mine is located beneath the towns of Pool and Camborne, and closed
in 1998 following over 400 years of continuous production.

An updated Mineral Resource was completed in September 2023 as summarised
below:

 South Crofty Summary (JORC 2012) Mineral Resource Estimate
 Area        Classification  Mass   Grade       Contained Tin /

                             (kt)               Tin Equivalent

                                                (kt)
 Lower Mine  Indicated       2,896  1.50% Sn    43.6
             Inferred        2,626  1.42% Sn    37.4
 Upper Mine  Indicated       260    0.99% SnEq  2.6
             Inferred        465    0.91% SnEq  4.2

 

The Mineral Resource Estimate for South Crofty was updated in September 2023
(see news release dated September 13, 2023
(https://cornishmetals.com/news/2023/cornish-metals-releases-updated-mineral-resource-estimate-for-south-crofty-tin-projectornish-metals-releases-updated-mineral/)
). An updated NI 43-101 Technical Report will be filed on SEDAR within 45 days
of the September 13 news release.

The technical information in this news release has been compiled by Mr. Owen
Mihalop who has reviewed and takes responsibility for the data and geological
interpretation. Mr. Owen Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is
Chief Operating Officer for Cornish Metals Inc. and has sufficient experience
relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a
Competent Person as defined under the JORC Code (2012) and as a Qualified
Person under NI 43-101. Mr. Mihalop consents to the inclusion in this
announcement of the matters based on his information in the form and context
in which it appears.

ON BEHALF OF THE BOARD OF DIRECTORS

 

"Richard D. Williams"

Richard D. Williams, P.Geo

 

 

For additional information please contact:

 

In North America: Irene Dorsman at (604) 200 6664 or by e-mail at
irene@cornishmetals.com (mailto:irene@cornishmetals.com)

 

 

 SP Angel Corporate Finance LLP                                         Richard Morrison   Tel: +44 203 470 0470

 (Nominated Adviser & Joint Broker)                                     Charlie Bouverat

                                                                        Grant Barker

 Hannam & Partners                                                      Matthew Hasson     Tel: +44 207 907 8500

 (Joint Broker)                                                         Andrew Chubb       email: cornish@hannam.partners (mailto:cornish@hannam.partners)

                                                                        Jay Ashfield

 BlytheRay                                                              Tim Blythe         Tel: +44 207 138 3204

 (Financial PR/IR-London)                                               Megan Ray          email: tim.blythe@blytheray.com (mailto:tim.blythe@blytheray.com)

                                                                                                       megan.ray@blytheray.com
                                                                                           (mailto:megan.ray@blytheray.com)

 

Market Abuse Regulation (MAR) Disclosure

The information contained within this announcement is deemed by the Company to
constitute inside information pursuant to Article 7 of EU Regulation 596/2014
as it forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 as amended.

 

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.

 

 

Caution regarding forward looking statements

 

This news release contains "forward-looking statements". Forward-looking
statements, while based on management's best estimates and assumptions at the
time such statements are made, are subject to risks and uncertainties that may
cause actual results to be materially different from those expressed or
implied by such forward-looking statements, including but not limited to:
risks related to receipt of regulatory approvals, risks related to general
economic and market conditions; risks related to the COVID-19 global pandemic
and any variants of COVID-19 which may arise; risks related to the
availability of financing; the timing and content of upcoming work programmes;
actual results of proposed exploration activities; possible variations in
Mineral Resources or grade; outcome of the current Feasibility Study;
projected dates to commence mining operations; failure of plant, equipment or
processes to operate as anticipated; accidents, labour disputes, title
disputes, claims and limitations on insurance coverage and other risks of the
mining industry; changes in national and local government regulation of mining
operations, tax rules and regulations.

Although Cornish Metals has attempted to identify important factors that could
cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not
to be as anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, readers should not place undue reliance on forward-looking
statements. Cornish Metals undertakes no obligation or responsibility to
update forward-looking statements, except as required by law.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBCGDCLSDDGXR