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RNS Number : 5403J  Strategic Minerals PLC  01 December 2025

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018.

 

 

1 December 2025

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor Drilling Update

 

Successful completion of the 2025 drilling programme at Redmoor

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, is pleased to provide updates from its
wholly owned subsidiary, Cornwall Resources Limited ("CRL"). CRL has
successfully completed its fully-funded diamond drilling programme, at its
wholly owned Redmoor Tungsten-Tin-Copper Project ("Redmoor"), in southeast
Cornwall, which the Company understands to be the highest-grade undeveloped
tungsten resource in Europe.

Highlights

·    In total, 5,048.70 m of core has been drilled, logged and reviewed
for sampling, with exceptional results from drillholes CRD033 and CRD034b,
which were reported by the Company on 10 November and 25 November,
respectively. Drill holes CRD035 and CRD036 are currently being processed and
analysed by ALS Laboratories, Loughrea, with samples from CRD037 to be shipped
imminently. Results from CRD035 are also expected imminently.

·    Drill hole CRD041 successfully intersected the full extent of the
Sheeted Vein System ("SVS"), passing through an underexplored section of the
Redmoor deposit, identifying:

·    Visible tungsten, tin and copper mineralisation within the
intersected SVS.

·    Confirming continuity of mineralised structures, and the SVS, to the
westward most extent of the deposit that has currently been explored.

·    Additional zones of mineralisation outside of the SVS, including a
promising zone of visible cassiterite mineralisation, that may support further
resource growth.

·    Figures 1-2, below, highlight newly identified visible tin
mineralisation in a 10 m wide (downhole) veined zone immediately north of the
modelled Redmoor SVS Mineral Resource. And Figures 4-6, below, highlight
mineralisation within sheeted veins from CRD041, consistent with the style
typical of the Redmoor SVS deposit and exhibiting strong tin, tungsten and
copper mineralisation.

·    Mineralogical analysis initiated by Petrolab Ltd, with samples
prepared for shipment to TOMRA for initial ore sorting amenability testworks.
Metallurgical testwork for flowsheet design are progressing ahead of schedule,
with flotation testing progressing well. Results are due in Q1 2026 and will
inform the forthcoming Mineral Resource Estimate ("MRE") update.

·    CRL notes the publication of the UK Critical Minerals Strategy (the
"Strategy"), which includes a focus on Cornwall's critical minerals potential
and ensuring a domestic supply of tungsten. The Strategy also includes new
funding routes and increased support for access to existing funding, as well
as potentially enabling policy support.

 Figure 1: Example of fine cassiterite (tin) (circled) and chalcopyrite          Figure 2: Example of cassiterite (tin) and very coarse wolframite (tungsten)
 (copper) and wolframite (tungsten) in drill core from drill hole CRD041,        in drill core from drill hole CRD041, within a new zone of mineralisation, as
 within a new zone of mineralisation, as logged & sampled by CRL                 logged & sampled by CRL geologists.
 geologists.

 Figure 3: Example of very coarse wolframite (tungsten) and chalcopyrite         Figure 4: Example of coarse wolframite (tungsten) minerals in mineralised
 (copper) in drill core from drill hole CRD041, as logged & sampled by CRL       exploration drill core from drill hole CRD041, as logged & sampled by CRL
 geologists.                                                                     geologists.

 Figure 5: Example of chalcopyrite (copper) in mineralised exploration drill     Figure 6: Example of coarse wolframite (tungsten), cassiterite (tin) and
 core from drill hole CRD041, as logged & sampled by CRL geologists.             chalcopyrite (copper) in mineralised exploration drill core from drill hole

                                                                               CRD041, as logged & sampled by CRL geologists.

 The core photographs shown are selected examples of logged drill core from
 CRD041 and are not necessarily representative of all mineralisation
 encountered.

Rowan Thorne, CRL Exploration Manager, said:

"We are happy to report that the 2025 exploration drilling programme at
Redmoor has been completed ahead of schedule, within budget, and with
exceptional results reported to-date from two drillholes.

"Drillhole CRD041 intersected the entire thickness of the Redmoor Sheeted Vein
System, with mineralisation consistent with the deposit recorded by CRL's
geologists, in a zone of the deposit that has been previously underexplored.
As demonstrated by reported results from other holes, the visual zones of
mineralisation within the SVS and logged by CRL geologists have so far shown
good correlation with the wide and high-grade analytical results so far
received.

"Further analysis is underway, with results from drillhole CRD035 due very
soon, CRD036 currently at the lab for analysis, CRD037 scheduled for shipping,
and CRD038 to follow shortly after. We are currently shipping a batch of
samples each week, representing an entire hole, and expect to therefore
complete all remaining shipments within December, with all analysis expected
to be returned in time for the MRE update in Q1 2026."

Charles Manners, Strategic Minerals' Executive Chairman, said:

"The Board is impressed by the hard work and professionalism demonstrated by
CRL's team in delivering the drilling programme, and the exceptional results
to-date. With drilling complete, and samples being shipped regularly to the
laboratory, there will be further updates to shareholders as the remainder of
the programme is reported.

"Following the release of the UK Critical Minerals Strategy, and our
engagement throughout its formation, we are positioning ourselves to highlight
the strategic importance of the Redmoor Project, and its ability to
meaningfully contribute to the stated aims of the Strategy."

Exploration Programme Update

Drillhole CRD041 has been successful in intersecting the SVS, and other
mineralised structures towards the westward most extent of the deposit, and
within an underexplored zone. The drillhole intersected a newly identified
zone of visible mineralisation separate to and North of the SVS including
fine-grained cassiterite (tin) (Figure 1 and 2). This tin zone falls outside
of the Redmoor SVS exploration target*(1), and subject to analysis, modelling,
and other modifying factors could lead to further resource growth. The
drillhole then passed through the full expected thickness of the SVS system
intersecting SVS-style veins containing coarse wolframite (tungsten),
chalcopyrite (copper) and cassiterite (tin) (Figure 4- 6). With CRD041
complete, Rig 2 has completed its planned three drillholes marking the end of
the 2025 drilling programme (Table 1).

Further cutting of remaining drillhole core is progressing with additional
sample batches to be shipped at regular intervals. All analysis will be
completed, and reported, prior to the MRE update in Q1 2026.

Note *(1): Alongside CRL's JORC (2012) MRE of 11.7Mt @ 0.56% WO₃, 0.16% Sn
& 0.50%Cu (1.17% Sn.eq / 0.82% WO₃.eq), Redmoor has a JORC (2012)
Exploration Target of 4-8Mt @ 1.0-1.4% Sn.eq.

Table 1: Drill hole collar details for drill holes from Pad 1, 2 and 3.

 Pad Number  DH I.D   Easting   Northing  Dip at Collar  Azimuth at Collar  Total Length (m)  Status
 Pad 1       CRD033   235801.7  71341.07  65             165                600.40            Completed
 Pad 1       CRD034b  235802.1  71341.02  56             135                608.20            Completed
 Pad 1       CRD035   235802.3  71341.09  54             145                512.40            Completed
 Pad 2       CRD036   235709.3  71239.50  54             165                461.70            Completed
 Pad 3       CRD037   235583.0  71298.00  65             160                599.30            Completed
 Pad 2       CRD038   235709.3  71239.50  65             178                566.20            Completed
 Pad 3       CRD039   235583.0  71298.00  60             166                580.37            Completed
 Pad 2       CRD040   235709.3  71239.50  54             185                464.20            Completed
 Pad 3       CRD041   235583.0  71298.00  58             180                602.40            Completed

Note: CRD034a was drilled from the same position as CRD034b, for 41.2m of
additional drilling, prior to abandonment

Metallurgical Study Update

Metallurgical testwork is progressing ahead of schedule. CRL is pleased to
report that AHK-MP-UK is progressing with Stage 2 of the metallurgical
testwork, testing the froth flotation aspect of the processing flowsheet, with
results expected in Q1 2026. Additionally, 30 drill core samples from a
variety of drillholes across the Redmoor resource have been delivered to
Petrolab Ltd, who have been procured to undertake petrographic and
mineralogical analyses to support the metallurgical testwork, as well as
furthering the mineralogical understanding of the deposit. Combined, these
workflows will contribute to improving the metallurgical and mineralogical
understanding of the Redmoor Mineral Resource and be used in the MRE update
expected in Q1 2026. Further samples are scheduled for shipment to TOMRA for
initial ore sorting amenability testworks.

UK Critical Minerals Strategy:

For commentary from the Company on the newly released UK Critical Minerals
Strategy, refer to the linked post: 251124 CRL_Blog
Post_UK_Critical_Minerals_Strategy.pdf
(https://www.strategicminerals.net/docs/251124%20CRL_Blog%20Post_UK_Critical_Minerals_Strategy.pdf)

Competent Person Statement:

The information in this announcement that relates to Sampling Techniques and
Data and Exploration Results has been reviewed and approved by Mr Laurie
Hassall, MSci (Geology), FIMMM, QMR, FGS, who is a full-time employee of
Snowden Optiro. Mr Hassall holds a Master of Science degree in Geology from
the University of Southampton and is a Fellow of the Institute of Materials,
Minerals and Mining (FIMMM), through which he is also accredited as Qualified
for Minerals Reporting (QMR). He is also a Fellow of the Geological Society of
London (FGS).

Snowden Optiro has been engaged by Cornwall Resources Limited to provide
independent technical advice. Mr Hassall, a full-time employee of Snowden
Optiro, is acting as the Competent Person and is independent of Cornwall
Resources Limited. He has sufficient experience that is relevant to the style
of mineralisation and type of deposit under consideration, and to the activity
being undertaken, to qualify as a Competent Person as defined in the 2012
Edition of the Australasian Code for Reporting of Exploration Results, Mineral
Resources and Ore Reserves (JORC Code), and under the AIM Rules.

Mr Hassall consents to the inclusion in this announcement of the matters based
on his information, in the form and context in which it appears. He confirms
that, to the best of his knowledge, there is no new information or data that
materially affects the information contained in previous market announcements,
and that the form and context in which the information is presented has not
been materially modified.

 

 For further information, please contact:

 Strategic Minerals plc                                                   +44 (0) 207 389 7067
 Mark Burnett
 Executive Director
 Website:                 www.strategicminerals.net (http://www.strategicminerals.net)
 Email:                   info@strategicminerals.net (mailto:info@strategicminerals.net)

 Follow Strategic Minerals on:
 X:                       @StrategicMnrls (https://x.com/StrategicMnrls)
 LinkedIn:                https://www.linkedin.com/company/strategic-minerals-plc
                          (https://www.linkedin.com/company/strategic-minerals-plc)

 SP Angel Corporate Finance LLP                                           +44 (0) 20 3470 0470
 Nominated Adviser and Broker
 Matthew Johnson/Charlie Bouverat/Grant Barker                            +44 (0) 203 829 5000

 Zeus Capital Limited

 Joint Broker

 Harry Ansell/Katy Mitchell

 Vigo Consulting                                                          +44 (0) 207 390 0234
 Investor Relations
 Ben Simons/Peter Jacob/Anna Sutton
 Email:                   strategicminerals@vigoconsulting.com
                          (mailto:strategicminerals@vigoconsulting.com)

 

 

Notes to Editors

About Strategic Minerals plc and Cornwall Resources Limited

Strategic Minerals plc (AIM: SML; USOTC: SMCDY) is an AIM-quoted, producing
minerals company, actively developing strategic projects in the UK, United
States and Australia.

In 2019, the Company completed the 100% acquisition of Cornwall Resources
Limited and the Redmoor Tungsten-Tin-Copper Project.

The Redmoor Project is situated within the historically significant Tamar
Valley Mining District in Cornwall, United Kingdom, with a JORC (2012)
Compliant Inferred Mineral Resource Estimate published 14 February 2019:

 Cut-off (SnEq%)          Tonnage (Mt)  WO(3)  Sn    Cu    Sn Eq(1)  WO(3) Eq

                                        %      %     %     %         %
 >0.45 <0.65              1.50          0.18   0.21  0.30  0.58      0.41
 >0.65                    10.20         0.62   0.16  0.53  1.26      0.88
 Total Inferred Resource  11.70         0.56   0.16  0.50  1.17      0.82

1 Equivalent metal calculation notes: Sn(Eq)% = Sn% x 1 + WO3% x 1.43 + Cu% x
0.40. WO(3)(EQ)% = Sn% x 0.7 + WO(3) + Cu% x 0.28.  Commodity price
assumptions: WO₃ US$ 33,000/t, Sn US$ 22,000/t, Cu US$ 7,000/t.  Recovery
assumptions: total WO3 recovery 72%, total Sn recovery 68% & total Cu
recovery 85% and payability assumptions of 81%, 90% and 90% respectively

More information on Cornwall Resources can be found at:
https://www.cornwallresources.com (https://www.cornwallresources.com)

In September 2011, Strategic Minerals acquired the distribution rights to the
Cobre magnetite project in New Mexico, USA, through its wholly owned
subsidiary Southern Minerals Group.  Cobre has been in production since 2012
and continues to provide a sustainable revenue stream for the Company.

In March 2018, the Company completed the acquisition of the Leigh Creek Copper
Mine situated in the copper rich belt of South Australia.  The Company has
entered into an exclusive Call Option with South Pacific Mineral Investments
Pty Ltd trading as Cuprum Metals to acquire 100% of the project.

About the CIOS Good Growth Fund and UK Shared Prosperity Fund

This project is part-funded by the UK Government through the UK Shared
Prosperity Fund.  Cornwall Council is responsible for managing projects
funded by the UK Shared Prosperity Fund through the Cornwall and the Isles of
Scilly Good Growth Programme (https://ciosgoodgrowth.com/) .

Cornwall and Isles of Scilly has been allocated £184 million for local
investment through the Shared Prosperity Fund
(https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus/uk-shared-prosperity-fund-prospectus)
.  This new approach to investment is designed to empower local leaders and
communities, so they can make a real difference on the ground where it's
needed the most.

The UK Shared Prosperity Fund proactively supports delivery of the
UK-government's five national missions: pushing power out to communities
everywhere, with a specific focus to help kickstart economic growth and
promoting opportunities in all parts of the UK.

For more information, visit

https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus
(https://www.gov.uk/government/publications/uk-shared-prosperity-fund-prospectus)

For more information, visit https://ciosgoodgrowth.com
(https://ciosgoodgrowth.com)

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