REG - Strategic Minerals - Redmoor - Discovery of New Tin Zone

Strategic MineralsAnnouncement

Yesterday 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:20260226:nRSZ4333Ua&default-theme=true

RNS Number : 4333U  Strategic Minerals PLC  26 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.

 

26 February 2026

 

Strategic Minerals plc

("Strategic Minerals" or the "Company")

Redmoor - New Tin Zone Discovery of Scale Confirmed North of Redmoor SVS

 

North Tin Zone represents additional long-term potential for significant
resources growth at Redmoor

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 confirmed the discovery of
a new tin zone, currently called the "North Tin Zone", at the Redmoor
Tungsten-Tin-Copper Project ("Redmoor") in southeast Cornwall.

The discovery of this distinct and continuous, tin-dominant zone of
mineralisation separate to the Redmoor Sheeted Vein System ("SVS") deposit has
been confirmed following the analysis of results from CRD041 (see RNS 25
February 2026), alongside the historical relogging programme, the newly
validated 1980s datasets from Southwest Minerals ("SWM") and the subsequent
new deposit model.

Updated geological modelling of the North Tin Zone, which is imaged below,
indicated the presence of a laterally continuous mineralised structure of
meaningful scale*(1). Subject to estimation and assessment of Reasonable
Prospects for Eventual Economic Extraction ("RPEEE"), this zone may have the
potential to support future Mineral Resource definition.

Highlights

·    Confirmation of the discovery of a new, large, mineralised structure
separate to the SVS deposit (the "North Tin Zone") (see Figures 1, 2, and 3).

·    The intersect from CRD041, along with the recent validation and
inclusion of the SWM 1980s drillhole data and following results from CRL's
historical relogging and sampling programme, have defined this new, distinct,
and continuous zone of mineralisation.

·    Given its continuity, grades, and size, the North Tin Zone will be
subject to estimation and RPEEE analysis, as part of the forthcoming Mineral
Resource Estimate ("MRE") update, with the potential to add a meaningful,
tin-dominant, non-SVS resource in addition to the forthcoming SVS MRE update.

·    CRD041 intersected the North Tin Zone containing visible cassiterite
(see Figures 1 and 2; related core photographs were published by the Company
on 1 December 2025 and assays reported 24 February 2026) with a sample
intersect of 4.00m @ 0.25% Sn, 0.01% Cu from 476.00m, including:

o  2.00m @ 0.40% Sn, 0.02% Cu & 0.00 WO3 (0.34% WO3.Eq) from 478.00 m.

·    Highlights of historical intersect for the North Tin Zone*(1),
include:

o  1.00m @ 5.13% Sn and 0.01% Cu from 366.51 m in CRD029

o  0.70m @ 3.40% Sn and 0.71% Cu from 148.92 m in RM82_24

o  1.00m @ 1.33% Sn, 0.01% WO(3) & 0.02% Cu from 255.03 m in CRD027

o  1.00m @ 2.56% Sn, 1.49% WO(3) & 0.09% Cu from 371.35 m in CRD027

Further sample intersects are detailed in Table 2, below.

·    Additional targeted relogging and sampling of CRL drillcore outside
of the SVS is underway to further define the potential extent of the North Tin
Zone, and other non-SVS mineralised zones, which have been noted in recent
drilling and historical datasets.

Figure 1: Long section looking south of the 2019 SVS model (shown in gold),
showing the trace of CRD041 coloured in red. Also showing the updated granite
model surface (pink) at depth, and other drillholes (black). The newly
discovered North Tin Zone is represented in green; this model highlights the
size and strong continuity of the newly identified structure.

Dennis Rowland, CRL Managing Director, said:

"Programme results and new modelling outputs have confirmed the discovery of a
new tin-dominant mineralised structure outside of the SVS deposit, and
therefore also separate to the SVS high-grade zone 2019 MRE. The new North Tin
Zone contains visible cassiterite and has been shown to be a large, distinct
and continuous structure. This zone will be included in the estimation and
RPEEE analysis as part of the forthcoming MRE.

Recent successes at Redmoor, including this discovery, reflect the project's
strengths and the team's consistent strong delivery, supported by effective
leadership. The Company considers the North Tin Zone of mineralisation to
represent additional long-term potential for significant resource growth at
Redmoor, alongside the aim for continued expansion of the SVS deposit, subject
to drilling and estimation."

Charles Manners, Strategic Minerals Executive Chairman, said:

"The Company is pleased to announce the discovery of a new zone of
mineralisation, currently referred to as the North Tin Zone, at Redmoor. This
zone has previously gone unnoticed, falling outside of known structures and
the SVS deposit and resource. However, following CRL's impressive and
successful results from the 2025 drill programme - including the confirmation
of the validity of the 1980s drill data - and the positive results from the
relogging and sampling programme, these new datasets have all contributed to
the updated geological modelling which has demonstrated the additional
potential for mineralisation at Redmoor separate to the SVS.

The Redmoor project is polymetallic and contains tungsten, tin, copper and
silver - all of which benefited from tightening supply and surging demand,
with liquid markets like copper and tin expressing this through price rallies
while tungsten's gains appear mainly as structurally firm contract pricing
driven by critical-mineral security concerns. There is no doubt that Redmoor
is endowed with a very advantageous basket of minerals."

Detail of North Tin Zone Discovery

CRD041 (see Table 1, and Figures 2 and 3) was the final drillhole drilled from
Pad 3 at Redmoor between October and December 2025. CRD039, the second last
drillhole, has been delayed at the laboratory due to additional QAQC checks
but is expected to be received shortly.

Table 1: Drillhole collar data for CRD041.

 Pad      Collar                                            Orientation at Collar       Total Depth (m)

 Number
          DH      Easting (m)  Northing (m)  Elevation (m)  Azimuth (⁰)    Dip (⁰)
 3        CRD041  235881.0     71305.0       187            180            85           602.40

Figure 2:  Plan (top-down) view of the previously modelled high-grade domains
(gold) used in the 2019 Redmoor MRE, showing CRD041 (red) and other CRL and
SWM drillhole traces (black), and newly discovered North Tin Zone (green).

Figure 3: Cross-sectional view of the updated model, showing high-grade
domains (tungsten-dominant in red and tin-dominant in green), and the newly
discovered North Tin Zone in the hanging wall of the SVS deposit.

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. A further
objective was to validate the potential presence of additional mineralised
structures outside of the Redmoor SVS which, subject to estimation, could form
further resources.

As shown in Figure 2, the western, tin-dominant, extent of the deposit is less
explored by drilling, represented by the lower density of drillholes than the
eastern portion. The historical relogging programme, the new 2025 borehole
drilling, and, through this, the validation of the 1980s drillhole datasets
have led to the generation of an updated geological model. This new model
highlights additional mineralised structures outside of the existing Mineral
Resource, which were previously not identified, reported or modelled (examples
listed below). Additional relogging and sampling of CRL drill core, outside of
the SVS, is underway to further delineate the continuity and extent of these
zones.

This includes the newly delineated, and currently named, North Tin Zone. As
shown in Figures 1-3, this zone forms a distinct and continuous zone of
mineralisation, with the sample results showing it is dominated by tin. This
zone will be subject to estimation in the forthcoming MRE, and RPEEE analysis,
and therefore could, following these outputs, form a new, non-SVS resource.

Table 2: Highlights of downhole composite sample intersections returned from
CRL and SWM 1980s drillholes showing interval lengths and subsequent assay
results for WO3, Sn & Cu. A tungsten equivalent result has also been
calculated*(3). Composited values use a downhole length weighted average of
grades. CRL drillholes CRD015, CRD027, CRD029 were previously reported during
the 2017 and 2018 drill programmes, with additional samples reported in 2024
and 2025 as part of the historical relogging programme. SWM 1980s drillholes
(RM) have not previously been reported by CRL. All intersection data has been
reviewed and approved by CRL's Competent Person., Laurie Hassall.

 Sample Start                  Drill Hole I.D  From (m)  To (m)  Interval (m)  WO3 %  Cu %  Sn %  WO3 eq. %*(3)
 CRL Intersections
 CRD001719-22                  CRD015          210.84    217.84  7.00          0.01   0.07  0.67  0.58
      incl. CRL001720          CRD015          211.93    213.92  1.99          0.01   0.08  1.24  1.04
 CRL002927-29                  CRD027          255.03    258.03  1.00          0.01   0.02  0.49  0.41
      incl. CRL002927          CRD027          255.03    256.03  1.00          0.01   0.02  1.33  1.11
 CRL004031-35                  CRD029          364.27    368.84  4.57          0.01   0.06  1.40  1.17
      incl. CRL004034          CRD029          366.51    367.51  1.00          0.01   0.10  5.13  4.24
 CRL005875-81                  CRD036          306.70    309.36  2.66          0.02   0.06  0.20  0.20
      incl. CRL005876          CRD036          308.72    309.36  0.64          0.01   0.15  0.38  0.36
 CRL006079-82                  CRD037          469.00    472.00  3.00          0.00   0.01  0.36  0.30
      incl. CRL006081          CRD037          469.77    470.30  0.53          0.01   0.04  2.00  1.66
 CRL006661-65                  CRD040          313.40    322.00  8.60          0.03   0.04  0.50  0.45
      incl. CRL006664          CRD040          318.28    320.00  1.72          0.13   0.09  1.15  1.10
 CRL006826-31                  CRD041          472.00    480.00  8.00          0.00   0.01  0.18  0.15
      incl. CRL006831          CRD041          476.00    480.00  2.00          0.00   0.02  0.40  0.34
 1980s SWM Intersections
 RM80_05B24042-48              RM80_05B        240.00    248.00  8.00          0.08   0.02  0.83  0.77
      incl. RM80_05B24244      RM80_05B        242.00    244.00  2.00          0.32   0.00  2.80  2.61
 RM80_06014016-20              RM80_06         14.00     20.00   6.00          0.01   0.02  0.29  0.26
 RM80_16B24042-48              RM80_16B        240.00    248.00  8.00          0.02   0.02  0.41  0.36
      incl. RM80_16B24042      RM80_16B        240.00    242.00  2.00          0.05   0.01  1.30  1.12
 RM80_18314316-20              RM80_18         314.00    320.00  6.00          0.00   0.24  0.22  0.25
 RM82_24286288-92              RM82_24         286.00    292.00  6.00          0.01   0.04  0.18  0.17
 RM82_24A25254                 RM82_24A        252.00    254.00  2.00          0.01   0.01  0.38  0.33

 

Note*(1) "Meaningful scale" defined by the Company as a structure that is
continuous over multiple, well-spaced, drilling intersections and with a
potential volume and intersection grades sufficient to justify estimation.

Note*(2) All sample data for CRL hole data exists from sample batches
collected as part of the 2017-18 drilling programmes or the historical
relogging programme with highlights reported by the Company in 2024-2025.
 1980's drill hole data from SMW (RM holes) has not previously been reported
by the Company. Laurie Hassall, CRL Competent Person has reviewed and approved
the inclusion of these datasets.

Note*(3) 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 (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)

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. %
 CRD001719-22
      CRL001719      210.84             211.93  1.09          0.01    0.26  0.28  0.31
      CRL001720      211.93             213.92  1.99          0.01    0.08  1.24  1.04
      CRL001721      213.92             215.87  1.95          0.01    0.02  0.28  0.24
      CRL001722      215.87             217.84  1.97          0.01    0.01  0.70  0.58
 CRL002927-29
      CRL002927      255.03             256.03  1.00          0.01    0.02  1.33  1.11
      CRL002928      256.03             257.03  1.00          0.01    0.01  0.03  0.03
      CRL002929      257.03             258.03  1.00          0.0126  0.02  0.10  0.10
 CRL004031-35
      CRL004031      364.27             365.51  1.24          0.01    0.06  0.84  0.71
      CRL004032      365.51             366.51  1.00          0.01    0.02  0.03  0.04
      CRL004034      366.51             367.51  1.00          0.01    0.10  5.13  4.24
      CRL004035      367.51             368.84  1.33          0.01    0.07  0.14  0.14
 CRL005875-81
      CRL005875      306.70             308.72  2.02          0.00    0.00  0.01  0.02
      CRL005876      308.72             309.36  0.64          0.01    0.15  0.38  0.36
      CRL005877      309.36             311.02  1.66          0.03    0.05  0.07  0.10
      CRL005878      311.02             313.00  1.98          0.03    0.05  0.24  0.24
      CRL005879      313.00             314.82  1.82          0.02    0.12  0.11  0.15
      CRL005881      314.82             315.32  0.50          0.02    0.02  1.26  1.06
 CRL006079-82
      CRL006079      469.00             469.77  0.77          0.00    0.01  0.01  0.01
      CRL006081      469.77             470.30  0.53          0.01    0.04  2.00  1.66
      CRL006802      470.30             472.00  1.70          0.00    0.01  0.01  0.01
 CRL006661-65
      CRL006661      313.40             315.40  2.00          0.00    0.02  0.36  0.30
      CRL006662      315.40             317.23  1.83          0.01    0.01  0.02  0.03
      CRL006663      317.23             318.28  1.05          0.02    0.10  0.36  0.34
      CRL006664      318.28             320.00  1.72          0.13    0.09  1.15  1.10
      CRL006665      320.00             322.00  2.00          0.01    0.02  0.60  0.50
 CRL006826-31
      CRL006826      472.00             474.00  2.00          0.00    0.01  0.18  0.15
      CRL006827      474.00             476.00  2.00          0.00    0.00  0.02  0.02
      CRL006828      476.00             478.00  2.00          0.01    0.01  0.11  0.09
      CRL006831      478.00             480.00  2.00          0.00    0.02  0.40  0.34
 RM80_05B24042-48
 RM80_05B24042       240.00             242.00  2.00          0.01    0.03  0.19  0.17
 RM80_05B24244       242.00             244.00  2.00          0.32    0.00  2.80  2.61
 RM80_05B24446       244.00             246.00  2.00          0.01    0.01  0.03  0.03
 RM80_05B24648       246.00             248.00  2.00          0.00    0.06  0.30  0.26
 RM80_06014016-20
 RM80_06014016       14.00              16.00   2.00          0.01    0.01  0.51  0.43
 RM80_06016018       16.00              18.00   2.00          0.01    0.04  0.09  0.10
 RM80_06018020       18.00              20.00   2.00          0.01    0.02  0.28  0.25
 RM80_16B24042-48
 RM80_16B24042       240.00             242.00  2.00          0.05    0.01  1.30  1.12
 RM80_16B24244       242.00             244.00  2.00          0.01    0.03  0.04  0.05
 RM80_16B24446       244.00             246.00  2.00          0.01    0.02  0.18  0.16
 RM80_16B24648       246.00             248.00  2.00          0.00    0.03  0.12  0.11
 RM80_18314316-20
 RM80_16B24042       314.00             316.00  2.00          0.01    0.42  0.47  0.51
 RM80_16B24244       316.00             318.00  2.00          0.00    0.02  0.06  0.05
 RM80_16B24446       318.00             320.00  2.00          0.00    0.27  0.14  0.19
 RM82_24286288-92
 RM82_24286288       286.00             288.34  2.34          0.01    0.02  0.07  0.07
 RM82_24288289       288.34             289.20  0.86          0.01    0.21  0.47  0.45
 RM82_24289290       289.20             290.00  0.80          0.01    0.02  0.24  0.21
 RM82_24290292       290.00             292.00  2.00          0.01    0.01  0.17  0.15
 RM82_24A25254       252.00             254.00  2.00          0.01    0.01  0.38  0.33

 

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  UPDSEDFWIEMSEIE



            Copyright 2019 Regulatory News Service, all rights reserved