(Sharecast News) - Strategic Minerals said on Friday that Cornwall Resources had received planning permission to expand the drilling programme at its Redmoor tungsten-tin-copper project in Cornwall, allowing two further rigs to be mobilised and giving approval for up to three years of continuous operations.
The AIM-traded company said the expanded programme currently comprised 22,500 metres across at least 44 holes, with completion planned for the second quarter of 2027.
It said the work was intended to advance Redmoor to an indicated resource and support pre-feasibility and feasibility studies, while also collecting geotechnical, metallurgical and hydrogeological data.
Managing director Dennis Rowland said the approval highlighted the "high-quality submission and effective process" undertaken by Cornwall Resources, while Strategic Minerals executive director Mark Burnett said the decision gave the company "the flexibility to build upon the encouraging results received to date and further accelerate development at Redmoor".
At 1106 BST, shares in Strategic Minerals were up 4.83% at 4.45p.
Reporting by Josh White for Sharecast.com.
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