REG - Strategic Minerals - Redmoor: Positive Results from Exploration Target

Strategic MineralsAnnouncement

12/02/2026 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260212:nRSL6704Sa&default-theme=true

RNS Number : 6704S  Strategic Minerals PLC  12 February 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.

 

12 February 2026

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor - Positive Results from High-Priority Section of Exploration Target

 

Results from CRD037 confirm presence of the SVS and continued high-grade
tungsten-dominant and tin-dominant mineralisation with associated copper
within a high-priority section of the previously untested Redmoor Exploration
Target

Strategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral
exploration and production company, announces that its wholly owned
subsidiary, Cornwall Resources Limited ("CRL"), has received assay results
from drillhole CRD037 - the first hole from Pad 3 - from the Redmoor
Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

CRD037 successfully intersected the central portion of a high-priority section
of the 2019 Redmoor JORC (2012) Exploration Target (the "Exploration Target"),
identifying the presence of Sheeted Vein System ("SVS") within this section
and confirming the continuation of high-grade mineralisation containing
tungsten, tin, and copper with silver within tungsten- and tin-dominant zones.

Highlights

·    Successful identification of SVS and Lode-style mineralisation within
the high priority section (see Figure 1) of the current Redmoor Exploration
Target, supporting:

o  The inclusion of this section in the forthcoming Mineral Resource Estimate
("MRE") update, with potential to contribute to Mineral Resources, subject to
further modelling, estimation and application of Reasonable Prospect of
Eventual Economic Extraction ("RPEEE"); and

o  The potential for any future expansion drilling at Redmoor to test and
potentially convert additional portions of the 4-8 Mt Exploration Target from
the 2019 MRE to Mineral Resources, subject to further drilling and estimation.

·    CRD037 intersected multiple high-grade zones of significant width,
detailed in the Downhole Intersections Highlights below. As well as a
continuous zone of mineralisation of 51.30m at 0.11% WO(3), 0.13% Sn &
0.40% Cu (0.33% WO(3).Eq) from 520.00 m, which contains numerous higher-grade
intervals.

·    CRD037 intersected multiple higher-grade intervals within high-grade
tungsten-dominated or high-grade tin-dominated structures, including copper,
with results including:

o  2.06% WO(3) over 0.85m from 522.00m

o  2.00% Sn over 0.53m from 469.77m

o  2.57% Cu over 1.00m from 548.00m

Downhole Intersections Highlights

High-grade tungsten, tin and copper from both Lode-style and SVS-style
mineralisation:

·    2.23m @ 0.48% Sn & 0.02% Cu (0.40% WO(3).Eq) from 469.77 m,
including:

o  0.53m @ 2.00% Sn & 0.04% Cu (1.66% WO3.Eq) from 469.77 m

·    1.64m @ 0.25% WO(3), 0.26% Sn & 0.74% Cu (0.67% WO(3).Eq) from
489.00 m, including:

o  0.64m @ 0.56% WO3, 0.63% Sn & 1.80% Cu (1.56% WO3.Eq) from 490.00 m

·    2.85m @ 0.71% WO(3), 0.15% Sn & 0.38% Cu (0.94% WO(3).Eq) from
520.00 m, including:

o  0.85m @ 2.06% WO(3), 0.19% Sn & 0.58% Cu (2.37% WO(3).Eq) from 522.50
m

·    0.95m @ 0.48% WO(3), 0.18% Sn & 0.58% Cu (0.78% WO(3).Eq) from
530.55 m

·    2.00m @ 0.07% WO(3), 0.49% Sn & 0.58% Cu (0.63% WO(3).Eq) from
542.50 m

·    1.00m @ 0.01% WO(3), 0.53% Sn & 2.57% Cu (1.13% WO(3).Eq) from
548.00 m

·    1.20m @ 0.70% WO(3), 0.28% Sn & 1.40% Cu (1.30% WO(3).Eq) from
564.25 m

Continuation of elevated silver mineralisation(*1) associated with
higher-grade copper mineralisation within the sheeted vein system confirmed
with results including 1m @ 52.90 g/t Ag, 2.57% Cu, 0.53% Sn and 0.01% WO(3)
from 548.00m.

Figure 1: Long section looking south of the 2019 SVS model (gold), showing the
trace of CRD037 coloured on Sn. Also showing the updated granite model surface
(pink) at depth and other drillholes (black). Trace of CRD037 shown to pass
through the high-priority section, representing a gap within the existing SVS
model.

Dennis Rowland, CRL Managing Director, said:

"Previous results from CRD038 provided the first drilling evidence of sheeted
vein mineralisation within the margins of the current Exploration Target.
Results from CRD037 intersected the core of a high-priority section of the
Exploration Target, demonstrating the continuation of SVS high-grade
mineralisation through this previously untested section."

"This section was deemed high priority as it was considered within the
footprint of the Redmoor Mining Scoping Study (2020) design and was
incorporated as development only, given no Mineral Resource had been modelled
in this area at the time."

"The results also provide additional support for the continuity of the
geological model within this section, highlighting the presence of high-grade
tungsten- and tin-dominant zones, and therefore additional confidence when
designing the upcoming infill drilling programme. These results are expected
to inform the forthcoming MRE update, subject to completion of estimation
work."

Mark Burnett, Strategic Minerals Executive Director, said:

"Results from CRD038 and CRD037 provide further support for the continuity of
mineralisation within the Exploration Target area and indicate potential for
additional Mineral Resources, subject to modelling, estimation and
demonstration of RPEEE.

With results from the remaining two 2025 drillholes outstanding and the
results of the metallurgical testworks to come, we are quickly advancing
towards the production of the new MRE for Redmoor, which we expect to further
highlight, in the Company's opinion, Redmoor's place as the highest-grade,
undeveloped tungsten resource in Europe."

Detail of analytical results from CRD037

 

Table 1: Drillhole collar data for CRD037.

 Pad      Collar                                            Orientation at Collar       Total Depth (m)

 Number
          DH      Easting (m)  Northing (m)  Elevation (m)  Azimuth (⁰)    Dip (⁰)
 3        CRD037  235881.0     71305.0       187            160            65           599.30

Figure 2:  Plan (top-down) view of the previously modelled high-grade domains
(gold) used in the 2019 Redmoor MRE, showing CRD037 (red) and other CRL and
SWM drillhole traces (black).

At the outset of the 2025 drilling campaign, the Company established several
key objectives, including confirmation of continuity of structure and grade
within the resource, verification of validity of the 1980s drillhole datasets,
and testing a portion of the Redmoor JORC Exploration Target.

CRD037 (see Table 1 and Figure 2) was the first drillhole drilled from Pad 3
at Redmoor between September and October 2025. CRD037 was aimed at testing the
highest-priority section of previously un-drilled portion of the Redmoor
deposit, at the centre of the Exploration Target, which forms a resource gap
within the deposit. CRD037's objective was to identify the presence and
continuity of SVS mineralisation containing high-grade tungsten, tin, and
copper.

As shown in Figure 1, CRD037 passed through the centre of the gap in modelled
mineralisation. The results indicate that the objective has been achieved with
CRD037 identifying SVS mineralisation containing zones of high-grade
tungsten-dominant mineralisation, and high-grade tin-dominant zones, both
containing copper (with associated silver mineralisation) within this section
of the Exploration Target. The results support the interpreted westward
continuation of the SVS along strike from historical drillholes such as
RM80_16B (see Figure 2).

The SVS intersection in CRD037 occurs within a portion of the Sheeted Vein
System that had not previously been modelled as part of the 2019 MRE. The
results provide additional geological information on the continuity of the SVS
and associated higher-grade domains in this area. This information has been
obtained as a result of drilling at CRD037.

An updated SVS geological model was completed prior to drilling CRD037, as
announced by the Company on 29 January 2026.. The results from CRD037 will be
incorporated into a subsequent update of the model to reflect the newly
intersected SVS mineralisation and associated grade domains.

Based on results from CRD037, and supporting drillholes, this part of the
deposit is expected to be included in the forthcoming MRE, whereas it was
previously outside the scope of estimation and classified as an Exploration
Target. Any change in classification will be subject to further geological
evaluation and resource estimation in accordance with the JORC Code (2012).

Figure 2: Cross-sectional view of the updated model, showing high-grade
domains (red and green) identified during historical drilling and CRD037
showing the mineralised continuity of these structures' westwards.

CRD037 is located within the high-grade, tin-dominant portion of the Redmoor
deposit, with high-grade tungsten-dominant and high-grade tin-dominant
intersections highlighted above and detailed in Table 2, below. Results from
the remaining drillholes from Pad 3, CRD039 and CRD041 are expected shortly.
CRD039 also intersects the Exploration Target, and CRD041 intersected visible
mineralisation as part of the SVS within the western portions of the resource
and identified potential new tin-dominant mineralisation separate from and in
the hanging wall, north of, the SVS.

Table 2: Highlights of downhole composite sample intersections returned from
recently received results from drillhole CRD037 showing interval lengths and
subsequent assay results for WO3, Sn & Cu. A tungsten equivalent result
has also been calculated(*2). Composited values use a downhole length weighted
average of grades.

 Sample Start                    From    To      Interval  WO3   Cu    Sn    WO3 eq.  Comments

                                 (m)     (m)     (m)       %     %     %     %
 CRL006081-82                    469.77  472.00  2.23      0.00  0.02  0.48  0.40     Lode-Style Sn Mineralisation
    incl. CRL006081              469.77  470.30  0.53      0.00  0.04  2.00  1.66     Lode-Style Sn Mineralisation
 CRL006096-97                    489.00  490.64  1.64      0.25  0.74  0.26  0.67     S.V.S Mineralisation
    incl. CRL006097              490.00  490.64  0.64      0.56  1.80  0.63  1.56     S.V.S Mineralisation
 CRL006102-05                    494.92  499.50  4.58      0.06  0.36  0.05  0.19     Lode-Style + SVS Mineralisation
    incl. CRL006102              494.92  495.60  0.68      0.35  0.16  0.09  0.47     S.V.S Mineralisation
    incl. CRL006105              498.60  499.50  0.90      0.00  0.91  0.08  0.32     Lode-Style Cu Mineralisation
 CRL006111-13                    503.84  507.90  4.06      0.16  0.41  0.05  0.30     S.V.S Mineralisation
    incl. CRL006112              505.38  506.32  0.94      0.46  1.16  0.11  0.86     S.V.S Mineralisation
 CRL006123-25                    520.00  522.85  2.85      0.71  0.38  0.15  0.94     S.V.S Mineralisation
    incl. CRL006125              522.00  522.85  0.85      2.06  0.58  0.19  2.37     S.V.S Mineralisation
 CRL006128-34                    525.00  529.00  4.00      0.02  0.70  0.19  0.36     Lode-Style Cu+Sn Mineralisation
    incl. CRL006131              525.50  526.25  0.75      0.01  1.19  0.18  0.47     Lode-Style Cu+Sn Mineralisation
    incl. CRL006134              528.10  529.00  0.90      0.04  0.97  0.33  0.57     Lode-Style Cu+Sn Mineralisation
 CRL006136-38                    530.55  533.90  3.35      0.16  0.30  0.08  0.30     S.V.S Mineralisation
    incl. CRL006136              530.55  531.50  0.95      0.48  0.58  0.18  0.78     S.V.S Mineralisation
 CRL006141-44                    535.00  539.00  3.35      0.05  0.31  0.13  0.25     Lode-Style Cu+Sn Mineralisation
 CRL006146-57                    540.00  555.00  15.00     0.07  0.57  0.23  0.42     Lode-Style + SVS Mineralisation
    incl. CRL006148-53           542.50  549.00  6.50      0.06  0.88  0.36  0.59     Lode-Style Cu+Sn Mineralisation
         cont. CRL006148         542.50  544.50  2.00      0.07  0.58  0.49  0.63     Lode-Style Cu+Sn Mineralisation
         and CRL006153           548.00  549.00  1.00      0.01  2.57  0.53  1.13     Lode-Style Cu+Sn Mineralisation
    incl. CRL006156              552.00  554.00  2.00      0.26  0.25  0.16  0.46     S.V.S Mineralisation
 CRL006161-62                    558.95  562.00  3.05      0.12  0.86  0.09  0.42     S.V.S Mineralisation
    incl. CRL006161              558.95  560.70  1.75      0.19  0.99  0.06  0.50     S.V.S Mineralisation
 CRL006164-68                    563.50  571.30  7.80      0.20  0.31  0.07  0.33     S.V.S Mineralisation
    incl. CRL006165              564.25  565.45  1.20      0.70  1.40  0.28  1.30     S.V.S Mineralisation

 

Note*(1) Further silver analysis and commentary will follow completion of
metallurgical testworks and resource modelling, noting there is no assumption
at this stage that silver will be recoverable or economically reportable in
the Mineral Resource.

Note*(2) Tungsten Equivalent (WO(3).Eq) Calculation: WO₃ (EQ)% = WO₃%+(Sn%
x 0.82) + (Cu% x 0.27)

Commodity price assumptions: WO₃ US$ 43,000/t, Sn US$ 32,525/t, Cu US$
9,429/t.  Using the 12-month average to September 2025. Recovery assumptions:
total WO₃ recovery 72%, total Sn recovery 68% and total Cu recovery 85%.
Payability assumptions of 81%, 90% and 90% respectively.

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

 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

 

 

 

 

 

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)

Appendix 1

Table 3: Composite intersections and individual sample results, including,
sample numbers, depths and widths, metal contents and tungsten equivalent
calculations.

 Sample Start        From (m)  To (m)  Interval (m)  WO3 %  Cu %  Sn %  WO3 eq. %
 CRL006081-82
      CRL006081      469.77    470.30  0.53          0.01   0.04  2.00  1.66
      CRL006082      470.30    472.00  1.70          0.00   0.01  0.01  0.01
 CRL006096-97
      CRL006096      489.00    490.00  1.00          0.06   0.07  0.03  0.10
      CRL006097      490.00    490.64  0.64          0.56   1.80  0.63  1.56
 CRL006102-05
      CRL006102      494.92    495.60  0.68          0.35   0.16  0.09  0.47
      CRL006103      495.60    497.50  1.90          0.00   0.01  0.01  0.01
      CRL006104      497.50    498.60  1.10          0.01   0.63  0.06  0.23
      CRL006105      498.60    499.50  0.90          0.00   0.91  0.08  0.32
 CRL006111-13
      CRL006111      503.84    505.38  1.54          0.04   0.32  0.04  0.16
      CRL006112      505.38    506.32  0.94          0.46   1.16  0.11  0.86
      CRL006113      506.32    507.90  1.58          0.09   0.05  0.01  0.12
 CRL006123-25
      CRL006123      520.00    521.00  1.00          0.27   0.30  0.22  0.54
      CRL006124      521.00    522.00  1.00          0.01   0.29  0.04  0.12
      CRL006125      522.00    522.85  0.85          2.06   0.58  0.19  2.37
 CRL006128-34
      CRL006128      525.00    525.50  0.50          0.00   0.43  0.06  0.17
      CRL006131      525.50    526.25  0.75          0.01   1.19  0.18  0.47
      CRL006132      526.25    527.35  1.10          0.02   0.35  0.12  0.21
      CRL006133      527.35    528.10  0.75          0.00   0.60  0.24  0.36
      CRL006134      528.10    529.00  0.90          0.04   0.97  0.33  0.57
 CRL006136-38
      CRL006136      530.55    531.50  0.95          0.48   0.58  0.18  0.78
      CRL006137      531.50    533.40  1.90          0.01   0.21  0.03  0.09
      CRL006138      533.40    533.90  0.50          0.14   0.16  0.05  0.23
 CRL006141-44
      CRL006141      535.00    536.00  1.00          0.12   0.38  0.05  0.26
      CRL006142      536.00    537.20  1.20          0.07   0.50  0.09  0.28
      CRL006143      537.20    538.20  1.00          0.00   0.06  0.16  0.15
      CRL006144      538.20    539.00  0.80          0.01   0.27  0.27  0.31
 CRL006146-57
      CRL006146      540.00    540.50  0.50          0.01   0.41  0.32  0.38
      CRL006147      540.50    542.50  2.00          0.00   0.10  0.05  0.07
      CRL006148      542.50    544.50  2.00          0.07   0.58  0.49  0.63
      CRL006151      544.50    546.00  1.50          0.14   0.59  0.26  0.51
      CRL006152      546.00    548.00  2.00          0.00   0.57  0.22  0.33
      CRL006153      548.00    549.00  1.00          0.01   2.57  0.53  1.13
      CRL006154      549.00    550.00  1.00          0.01   0.14  0.03  0.06
      CRL006155      550.00    552.00  2.00          0.06   0.57  0.25  0.41
      CRL006156      552.00    554.00  2.00          0.26   0.25  0.16  0.46
      CRL006157      554.00    555.00  1.00          0.00   0.69  0.06  0.24
 CRL006161-62
      CRL006161      558.95    560.70  1.75          0.19   0.99  0.06  0.50
      CRL006162      560.70    562.00  1.30          0.02   0.69  0.12  0.30
 CRL006164-68
      CRL006164      563.50    564.25  0.75          0.03   0.27  0.03  0.13
      CRL006165      564.25    565.45  1.20          0.70   1.40  0.28  1.30
      CRL006166      565.45    567.45  2.00          0.15   0.20  0.07  0.26
      CRL006167      567.45    569.30  1.85          0.00   0.03  0.01  0.02
      CRL006168      569.30    571.30  2.00          0.18   0.02  0.01  0.19

 

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  UPDFZGMZRMZGVZM



            Copyright 2019 Regulatory News Service, all rights reserved