REG - Strategic Minerals - Redmoor-Successful Twin Drilling+New Deposit Model

Strategic MineralsAnnouncement

29/01/2026 07:00

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RNS Number : 8084Q  Strategic Minerals PLC  29 January 2026

 

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.

 

29 January 2026

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor - Successful Twin Drilling Results and New Deposit Model to Drive
Efficiencies

 

Results confirm reproducibility of historical results and mineralised
continuity of the Redmoor SVS high-grade zones, while providing increased
detail for the new and more robust SVS deposit model

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, is delighted to announce that its wholly
owned subsidiary, Cornwall Resources Limited ("CRL"), has completed its review
of historical drill data following the receipt of results of twin drillhole
CRD036, drilled at the Redmoor Tungsten-Tin-Copper Project ("Redmoor") in
southeast Cornwall.

CRL further confirms the update to its Redmoor Sheeted Vein System ("SVS")
deposit model, including significant improvements over the previous model,
ahead of the Mineral Resource Estimate ("MRE") update due this quarter.

Continuity of Structure and Grade and Twinning*(1) Results

·      Results confirm good continuity of high-grade tungsten, tin, and
copper mineralised structures within the SVS, both along strike and vertically
through the resource, also confirming the presence of previously drilled
lode-style mineralised structures, and identifying the presence of domains of
high-grade tin mineralisation within the boundaries of the current JORC
compliant (2012) Mineral Resource (2019).

·      These results also support the reproducibility of historical
drilling results from 30 holes drilled by Southwest Minerals ("SWM") between
1979 and 1982, supporting the inclusion of this data into the forthcoming MRE.

Model Updates*(2) Ahead of New MRE

·    Snowden Optiro has completed a comprehensive re-evaluation and
re-modelling of the Redmoor geological and mineralisation model. This work
includes the development of a fully integrated geological model, which had not
previously been constructed at this level of detail (see Figure 1).

·    Previously, high-grade domains within the SVS were modelled using a
tin-equivalent (Sn.Eq) approach only, resulting in mixed tin-tungsten zones
with lower spatial confidence.

·    Crucially the revised model (see Figure 2) separates the high-grade
zones into distinct high-grade tungsten-dominant and high-grade tin-dominant
domains, providing improved geological resolution and potentially improved
modelling outcomes.

·    The Company believes these results will positively affect the
required spacing and total number of drillholes required for the fully funded
infill drilling programme, which was announced on 22 January 2026, designed to
convert portions of a future Mineral Resource to an Indicated classification,
as part of a planned prefeasibility study ("PFS") work programme, providing
significant cost and time efficiencies compared to previous assumptions.

 Figure 1: Oblique view looking northeast showing newly modelled*(2) tin
 (green) and tungsten (red) high grade domains only, from within the Redmoor
 SVS, and how these domains sit in relation to the updated granite model
 (pink). All existing drillholes are shown in black.

Further Model Highlights:

·    Tungsten-dominant domains occur at depth and to the east, whilst
tin-dominant domains are prevalent at shallower depths and towards the west of
the deposit. This distribution supports a metal zonation model related to
proximity to the granite contact, with higher-grade tungsten mineralisation
proximal to the granite and higher-grade tin mineralisation occurring more
distally, as reflected in the updated geological interpretation (see Figure
1).

·    In addition to the high-grade domains, the updated model includes a
SVS envelope capturing lower-grade mineralisation surrounding the high-grade
zones (see Figures 2 and 3). This broader mineralised envelope is intended to
more accurately represent the full extent of the SVS and provide an improved
framework for resource estimation.

·    Modelling updates further indicate that drilling has intersected
additional high-grade mineralisation outside the currently modelled SVS
domains.

o  Notably, drillhole CRD036 returned approximately 30 metres of
mineralisation beyond the revised SVS interpretation, which, subject to
further drilling and modelling, may represent potential extensions to
high-grade mineralised zones.

·    Results from remaining 5 holes will feed into model updates ahead of
the Q1 2026 MRE.

·    The development of a comprehensive geological model provides a robust
foundation for future metallurgical testwork, geotechnical studies, and mine
planning, enabling improved integration between geological interpretation and
downstream technical studies.

Dennis Rowland, CRL Managing Director, said:

"Drillhole results to date from CRD033-036 have highlighted the high-grade
nature of the Redmoor SVS deposit and the strong continuity of structure and
grade within the deposit. These results, alongside the identification of
distinct high-grade tungsten and tin domains, have resulted in increased
modelling confidence and the new and improved deposit model.

The positive twinning results from CRD036 mean that the Company also has
increased confidence in the inclusion of the data from the 1980s SWM
drillholes, providing a significant increase in available data for the MRE
update as well as time and cost savings for the planned infill drilling.
Alongside the new and significantly improved modelling of the deposit, these
outcomes are expected to positively feed into the forthcoming MRE update."

 

Mark Burnett, Strategic Minerals Executive Director, said:

"The positive results from the twinning drilling and previously reported
outcomes of the continuity of structure and grade have provided the
possibility for significant time and cost savings as we accelerate towards
another phase of drilling operations at Redmoor. For the cost of drilling
three twin drillholes, the programme has allowed for the inclusion of data
from 30 historical drillholes to the model. The Board applaud the CRL team on
delivering these positive results and outcomes.

With the new model taking shape, and the remaining drill results from the 2025
programme expected very soon, we look forward to the production and
announcement of the new Redmoor MRE before the end of Q1 2026."

Detail of Model Updates(*2)

Drillhole CRD036 (Figure 2) was intentionally drilled to twin historical
drilling results from holes drilled by SWM in 1980 (drillholes RM80_05B and
05C) and confirm the presence of historically drilled tin- and copper-rich
structures along with intersecting the higher-grade, tin-rich section of the
resource within the shallower extent of the SVS system.

Figure 2: (top - old model) Plan view of the previously modelled high-grade
domains (gold) used in the 2019 Redmoor MRE, showing CRD036 (in red) and other
drillhole traces (black). (bottom - new model) Plan view of the deposit
including the newly modelled high-grade domains (red-tungsten and green-tin),
as well as the lower grade SVS envelope (gold), with the trace of CRD036 (in
Red) and other drillholes (black). CRD036 is an infill hole aimed at testing
short-spaced continuity of structure and grade.

Following a review of Redmoor's new geological model (see Figure 2, bottom)
and subsequent results from CRD036, CRL's geologists consider that CRD036
supports the validity of the historical SWM drillholes (Figure 3), and coupled
with the previously drilled twin hole (CRD033) (see: RNS dated 13(th) October
2025), CRL has a high level of confidence in the reliability of the historical
data and its suitability for inclusion in future geological models and the
forthcoming Redmoor MRE update. This means the cost of drilling 3 drillholes
has created the ability to add 30 drillholes worth of data to the model,
representing a significant time and cost saving given these holes would
otherwise have required drilling as part of upcoming infill drilling
programme.

Figure 3 includes a cross-section of the drillhole, showing CRD036 and
proximal CRL and SWM drillholes (coloured on WO₃) against the updated
high-grade domains (high-grade tin domains in green and high-grade tungsten
domains in red) within the newly modelled SVS lower-grade envelope (yellow and
grey) from the new deposit model. Upon final update, following receipt of
remaining drillhole sample results from the laboratory, this new model will be
used as the basis for the forthcoming MRE update.

Figure 3: Cross-section of CRD036, including WO₃ grades. Zones in red
represent the updated tungsten dominant domains and zones in green represent
tin dominant domains, with CRD036 intersecting a tin-dominant section of the
resource. The SVS envelope is shown in grey and yellow.

NOTES:

Note*(1) Twinned drillholes refer to new CRL drillholes which are aimed to
intersect SVS mineralisation in close proximity to previous historical
drilling undertaken by Southwest Minerals in 1978-1982, in order to verify the
robustness of the historical drilling data, as well as test the
continuity/reproducibility of grade and structure across the spacing between
the drillholes.

Note*(2) CRL makes no assumptions, ahead of the MRE update, on the outcomes of
the new deposit model and its contribution to the MRE update.

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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