Strategic Minerals plc (LON:SML) said drilling has kicked off at the Redmore tin and tungsten project in Cornwall.
The company owns a 50% interest in the project, which holds an exploration licence and option over 23km sq in the Cornish tin, tungsten and copper mining district in the UK.
Energold Drilling Corp. - the drilling company appointed by Strategic's joint venture with New Age Exploration, Cornwall Resources Limited - has started drilling at the project. Energold will undertake a 23-hole drill programme, which will be completed in two phases.
"The commencement of drilling of the 13 hole, phase 1 drilling programme, so quickly after funding, is a testament to the skills of our development team and to the support we have received from the residents of Kelly Bray and Callington, as well as that of the wider Cornwall community,” said John Peters, managing director at Strategic Minerals.
The first phase of drilling is expected to be completed in the third quarter of 2017, along with the release of interim lab results. The outcome of the lab analysis of all 13 holes will be published in the fourth quarter.
Phase 2 of the drilling programme is expected to include a further 10 holes and is planned to be completed this year.
Shares in Strategic Minerals gained 5.61% to 1.08p in morning trading.