Strategic Minerals PLC (AIM:SML, OTC:SMCDF) director Peter Wale said a "substantial amount of excellent work" has been done re-logging and sampling drill core from its Redmoor Project, some 25km from Plymouth.
Subsidiary Cornwall Resources Limited (CRL) updated on this and ongoing exploration activities within the recently acquired Tamar Valley Licence Area (TVLA).
Starting with the re-appraisal first, CRL has taken a second look at 3,786 meters of historical core from six boreholes, which constitutes approximately 27% of its existing drill core.
This effort has uncovered the potential for resource expansion through previously unsampled mineralisation.
To further assess this opportunity, 129 diamond drill core samples, totalling 177.45 meters, have been selected and dispatched for geochemical analysis, with results anticipated in the next two months.
Meanwhile, re-logging and sampling efforts are ongoing, with additional samples being prepared for shipment.
"A substantial amount of excellent work has been completed as part of the re-logging process," Strategic Minerals director Wale said.
"This process has the potential to have positive upsides at a low cost. We look forward to the lab results confirming our expectations which we anticipate will allow a review of both our existing resource size and grade. These results will also assist in completing the remainder of the re-logging program in a timely and cost-efficient manner.
In parallel, CRL has initiated initial reconnaissance mapping and desk studies of its new licence area.
These efforts have already identified previously unrecognised mineralised zones at the surface, which have been sampled. The desk studies are focused on the Plantation Vein, a historic Tin-Tungsten (Sn-W) target that was extensively drilled between 1967 and 1970, with some minor underground explorations conducted in the early 1970s.
Looking ahead, CRL plans to follow up on targets identified both during the Deep Digital Cornwall project and within the TVLA through comprehensive soil and stream sediment sampling programs. These studies aim to refine historical data and establish baseline geochemical datasets to help delineate potential new targets.
"Initial work on the Tamar Valley Licence Area has been very encouraging. Plans for stream sediment and soil sampling are underway as well as work on the highly prospective Plantation Vein. We have also successfully commenced initial engagement with the Duchy of Cornwall's tenants and local parish councils," Wale said.