Strategic Minerals (AIM:SML) said the first assays from its resource infill drilling programme at the Redmoor Tungsten-Tin-Copper Project in Cornwall have confirmed high-grade mineralisation consistent with its March mineral resource estimate.
The AIM and US OTC-listed mineral exploration and production company said multiple drillholes returned intervals exceeding 1.00% WO3 (tungsten trioxide) over one metre, with tungsten-equivalent grades topping 6.00% in places, among the highest intercepts reported at Redmoor to date.
Drillhole CRD042 also returned a standout copper interval of 6.79% Cu over 0.65 metres from 333.03 metres depth, part of a broader 12.06-metre zone grading 1.70% Cu.
Cornwall Resources, the project operator, identified a previously unmodelled style of copper-tin mineralisation in flat-lying aplitic bodies beneath the main Redmoor Sheeted Vein System, though this has not yet been assessed for economic potential.
Results from CRD042 and CRD043, along with daughter hole CRD044_D1, all intersected modelled high-grade zones at expected depths, reinforcing the structural continuity underpinning the current resource model.
"These first results confirm strong continuity of structure and consistent high-grade results within the Redmoor SVS deposit," said Dennis Rowland, Cornwall Resources' managing director.
Strategic Minerals executive director Mark Burnett said the company's review of publicly reported CRIRSCO-compliant tungsten projects in Europe still places Redmoor as the continent's highest-grade undeveloped tungsten resource.
Three drill rigs remain active on site, with assay results from parent hole CRD044 still pending and a further programme update expected shortly.
News Intelligence what this means for the company
Strategic Minerals' infill drilling at Redmoor has returned tungsten grades consistent with the March 2026 resource estimate, with multiple holes exceeding 1.00% WO3 and a standout copper interval of 6.79% Cu. The programme also identified a previously unmodelled copper-tin mineralisation style in flat-lying bodies beneath the main deposit, though its economic potential remains unassessed. This validates the structural continuity underpinning the current resource model but does not materially expand the resource itself.
The results reinforce confidence in the 17.4Mt resource at 0.65% WO3Eq reported in May 2026, but the discovery of a new mineralisation style below the main deposit is exploratory rather than immediately accretive—it requires economic assessment and potential resource modelling to affect project value. With three rigs active and further assays pending, the company is executing its drilling programme as planned, though the cash position of $10.76m at end-May 2026 remains a constraint on pace.
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