REG - Strategic Minerals - Redmoor Project Update

Strategic MineralsAnnouncement

11/02/2025 07:15

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RNS Number : 5924W  Strategic Minerals PLC  11 February 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.

 

 

11 February 2025

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Additional Tungsten and Copper Mineralisation identified by the Redmoor
relogging programme

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), a producing mineral company,
is pleased to update shareholders on the current progress at its 100% owned
subsidiary Cornwall Resources Limited ("CRL").

CRL is continuing to develop the Redmoor Project ("Redmoor" or the "Project")
through a process of relogging and sampling of its existing diamond drill
core, and other exploration and project activities.

The latest set of results received by the Company further validate potential
upside to the existing JORC (2012) compliant Redmoor Mineral Resource Estimate
("MRE") published on 14 February 2019, reinforcing the findings previously
reported in the RNS dated 2 August 2024.

Highlights:

 

·    Assay data confirms additional mineralisation identified within and
outside of the existing Redmoor deposit, with the potential to positively
contribute to a future update to the current MRE.

·    These new results are based on laboratory results from 194 new
diamond drill core samples taken from 7 diamond core drillholes from CRL's
2018 drilling campaign.

·   Results identify new tungsten, copper and tin mineralisation within
and external to the Sheeted-Vein-System (SVS), including:

·   Tungsten trioxide grades of 0.33% WO(3) over 1m from 393.5m and 0.30%
WO(3) over 1m from 440.95m, both in CRD025;

·    Copper grades of 0.34% Cu over 4m from 384m in CRD022 and 0.42% over
1.25m from 326.9m in CRD024;

·    Elevated tin concentrations up to 0.36% Sn over 1.3m from 270.7m in
CRD027.

·    CRL will now move to re-log 2017 drill core, with both work
programmes expected to significantly de-risk future drilling programmes at
Redmoor and support remodelling of the deposit and any future MRE update.

·   CRL continues exploration in the highly prospective Duchy of Cornwall
licenced Tamar Valley and Redmoor areas, focusing on baseline soil sampling to
identify potential new exploration targets. So far, 279 samples have been
collected and will be sent for analysis shortly.

Commenting, Dennis Rowland, CRL Project Manager, said:

"I am pleased to note that these results further validate the potential upside
within the Redmoor deposit through the reassessment of CRL's existing drill
core using enhanced methodologies.

"This cost-effective approach continues to yield positive outcomes while also
mitigating risks for future exploration programs at Redmoor.

"The geological team has commenced the relogging and sampling of Redmoor's
2017 drill core, with an additional 7,022 meters of core remaining for review.
We anticipate shipping further samples and will report the results in due
course once this programme is complete."

 

Re-Logging and Sampling of Redmoor Drillcore

CRL is pleased to confirm the conclusion of relogging and sampling of its 2018
drill core, representing boreholes CRD021-CRD032, and culminating in the
receipt of geochemical analysis from ALS Laboratories, Loughrea for 194 new
samples (see RNS dated 3 December 2024).

To-date 7,375 m of diamond drill core have been relogged representing CRL's
2018 drill core, which encompasses 12 of CRL's previously logged and sampled
drillholes (Fig. 1).  A total of 340 samples, representing 485.57m of new
sample length, were collected from the 2018 core, adding additional data and
identifying further mineralised sections.  A further 338m of the 2017 drill
core has so far been relogged with a further 6,684m remaining, with additional
new samples already selected for analysis.

Figure 1: Geological Map highlighting the locations of CRL's drillholes
outlining those which have been relogged and sampled during the current
relogging program. (Map also shows boreholes drilled by Southwest Consolidated
Minerals in the 1980s).

Coupled with new sampling and reviews of other relevant datasets, this
programme is expected to contribute to an updated geological and deposit model
for Redmoor and the potential for an update to Redmoor's Mineral Resource
Estimate. These tasks will be reviewed and undertaken following completion of
the relogging and sampling programme.

Results have identified several new mineralised intersections both within, and
external to the current SVS hosted Mineral Resource at Redmoor:

·    Tungsten trioxide (WO(3) %) results include CRL004519 containing 1m
@0.33% WO3 from 393.5m and CRL004523 containing 1m @0.30% WO3 from 440.95m
both in CRD025.

·    Copper (Cu %) results include CRL004605-06 containing 4m @0.34% Cu
from 384m in CRD022 and CRL004536 containing 1.25m @0.42% Cu from 326.9m in
CRD023.

·   Tin (Sn %) intervals include CRL004389 containing 1.3m @0.36% Sn from
270.7m in CRD027. All results of potentially economic interest are outlined in
Table 1.

 

Table 1: Highlights of sampled intervals returned from recently received
results showing interval lengths and subsequent assay results for WO(3)+Sn+Cu.

 (a) Redmoor SVS Mineralised Intercepts
 DH I.D.  Sample              From    To      Interval (m)  Cu %  Sn %  WO3 %
 CRD021   CRL004624-26        460.11  464.25  4.14          0.17  0.01  0.01
          CRL004656-57        594.00  596.75  2.75          0.07  0.01  0.20
          CRL004677           632.70  633.70  1.00          0.19  0.06  0.19
 CRD022   CRL004605-06        384.00  388.00  4.00          0.34  0.03  0.05
 CRD023   CRL004579+81**      569.00  571.70  2.70          0.21  0.12  0.05
 CRD024   CRL004536           326.90  328.15  1.25          0.42  0.00  0.00
          CRL004548           429.44  430.62  1.18          0.33  0.02  0.19
          CRL004559           619.20  620.30  1.10          0.02  0.00  0.19
          CRL004570-73        639.25  645.00  5.75          0.13  0.04  0.18
          incl. CRL003193***  642.03  643.03  1.00          0.33  0.00  0.31
 CRD025   CRL004517-19        391.50  394.50  3.00          0.20  0.01  0.13
          incl. CRL004519     393.50  394.50  1.00          0.03  0.01  0.33
          CRL004523           440.95  441.95  1.00          0.05  0.00  0.30
 (b) Non-SVS Mineralised Intercepts
 CRD027   CRL004389           270.70  272.00  1.30          0.05  0.36  0.05
 CRD028   CRL004379           243.98  245.00  1.02          0.06  0.18  0.02
 Notes:
 * Sample intervals show downhole lengths of intercepts intervals and not true
 widths.
 ** Sample CRL003840, not included in interval. This is a QAQC Sample.
 *** CRL003193is a historical sample analysed in 2018 but not previously
 reported.

 

CRL remains committed to its relogging and sampling programme, which will be
conducted alongside the re-modelling of the Redmoor deposit and the
integration of recently reported results into the resource. The ultimate
objective is to provide an updated Mineral Resource Estimate (MRE) in the
future.

Redmoor and Tamar Valley

In conjunction with the ongoing relogging and sampling programme, CRL
continues to undertake exploration activities in the Tamar Valley and Redmoor
Licence areas, with particular focus on base-line soil sampling programmes
aimed at identifying potential new exploration targets. To date, CRL has
collected 279 soil samples and collected numerous rock chip samples at two
identified targets, with a final 29 samples to be collected imminently. These
samples will then be sent to ALS Laboratories, Ireland for analysis.

Competent Person Statement:

Information in this announcement pertaining to Reporting of Sampling
Techniques and Data and Exploration Results has been reviewed and approved by
Mr James McFarlane, BSc (Hons), MSc, MCSM, CGeol FGS, FNEIMME, CEng QMR FIMMM,
RPGeo MAIG, FIQ . Mr McFarlane holds a BSc with Honours from The University of
Wales, Aberystwyth in Environmental Earth Science and an MSc in Mining Geology
from Camborne School of Mines, University of Exeter, he is also a Master of
the Camborne School of Mines (MCSM). Mr McFarlane is a Fellow and Chartered
Geologist with the Geological Society of London (CGeol FGS), a Chartered
Engineer (CEng) and Fellow of the Institute of Materials, Minerals and Mining
(FIMMM) through which he is also Qualified for Minerals Reporting (QMR). Mr
McFarlane is a Member of the Australian Institute of Geoscientists (MAIG), and
through which is Registered Professional Geoscientist in the joint fields of
Mining and Mineral Exploration (RPGeo). Mr McFarlane is also a Fellow of the
Institute of Quarrying (FIQ). Mr McFarlane is acting as an independent
consultant and has been retained by the Cornwall Resources Limited to provide
independent technical support. Mr McFarlane 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 by the 2012 Edition of the Australasian Code for Reporting of
Exploration Results, Mineral Resources and Ore Reserves (the JORC Code) and
under the AIM Rules

Mr McFarlane consents to the inclusion in this announcement of the matters
based on this information in the form and context in which it appears. Mr
McFarlane confirms that the Company is not aware of any new information or
data that materially affects the information included in the relevant market
announcements, and that the form and context in which the information has been
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:
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 SP Angel Corporate Finance LLP                           +44 (0) 20 3470 0470
 Nominated Adviser and Broker
 Matthew Johnson
 Charlie Bouverat

 Grant Barker

 

Notes to Editors

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 ("CRL") 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 Compliant
(2012) 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)

 

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