Strategic Minerals upbeat on assay results from Redmoor

12th Feb 2026 13:44

(Sharecast News) - Strategic Minerals said on Thursday that assay results from drillhole CRD037 at the Redmoor tungsten-tin-copper project in southeast Cornwall had confirmed the presence of the sheeted vein system (SVS) within a high-priority section of the 2019 JORC exploration target, and demonstrated continued high-grade tungsten- and tin-dominant mineralisation with associated copper and silver.

The AIM-traded firm said the hole, drilled by wholly-owned subsidiary Cornwall Resources from pad 3 between September and October, targeted the central, previously untested portion of the four to eight million tonne exploration target that represented a resource gap within the deposit.

It said CRD037 successfully intersected the core of the section, identifying both SVS and lode-style mineralisation and supporting its potential inclusion in the upcoming mineral resource estimate update, subject to further modelling, estimation and application of 'reasonable prospect of eventual economic extraction' criteria.

CRD037 returned a continuous 51.3 metre interval grading 0.11% tungsten trioxide, 0.13% tin and 0.40% copper, equivalent to 0.33% tungsten trioxide, from 520 metres, containing numerous higher-grade zones.

Among the standout intersections were 2.06% tungsten trioxide over 0.85 metres from 522 metres, 2% tin over 0.53 metres from 469.77 metres, and 2.57% copper over one metre from 548 metres.

Elevated silver mineralisation associated with higher-grade copper was also confirmed, including one metre at 52.9 grams of silver per tonne, 2.57% copper, 0.53% tin and 0.01% tungsten trioxide from 548 metres.

Detailed downhole composites included 2.23 metres at 0.48% tin and 0.02% copper from 469.77 metres, including 0.53 metres at 2% tin; 1.64 metres at 0.25% tungsten trioxide, 0.26% tin and 0.74% copper from 489 metres, including 0.64 metres at 0.56% tungsten trioxide, 0.63% tin and 1.8% copper; and 2.85 metres at 0.71% tungsten trioxide, 0.15% tin and 0.38% copper from 520 metres, including 0.85 metres at 2.06% tungsten trioxide.

Further mineralised intervals included 1.2 metres at 0.7% tungsten trioxide, 0.28% tin and 1.4% copper from 564.25 metres.

"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," said Dennis Rowland, managing director of Cornwall Resources.

He added that the results "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."

Strategic Minerals said tungsten equivalent grades were calculated using 12-month average prices to September of $43,000 per tonne for tungsten trioxide, $32,525 per tonne for tin and $9,429 per tonne for copper, alongside stated recovery and payability assumptions.

The company said the results supported the interpreted westward continuation of the SVS along strike and provide additional geological confidence ahead of an infill drilling programme.

It said the intersection lay within a portion of the SVS not previously modelled in the 2019 mineral resource estimate and was expected to be incorporated into the forthcoming update, subject to further geological evaluation and resource estimation in accordance with the JORC 2012 code.

"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," commented executive director Mark Burnett.

He added that with two further 2025 drillholes and metallurgical testwork results pending, the company is advancing towards a new mineral resource estimate for Redmoor, which it expected "to further highlight, in the company's opinion, Redmoor's place as the highest-grade, undeveloped tungsten resource in Europe."

At 1322 GMT, shares in Strategic Minerals were down 11.69% at 3.14p.

Reporting by Josh White for Sharecast.com.