Strategic Minerals Plc (LON: SML)(USOTC: SMCDY) will add two new holes to Phase 1 of the drilling programme at the Redmoor tin and tungsten project in Cornwall to be undertaken by joint venture vehicle Cornwall Resources Limited.
The cost will be funded equally by Strategic Minerals and partner NAE, who will jointly subscribe for a further £60,000 in equity in Cornwall Resources.
11 holes have already been drilled and assay results received on just over half of those.
The additional holes are designed to define the existing resource and provide further insight to the appropriate design and positioning of Phase 2 holes.
The Phase 1 drilling programme is expected to be completed during Q3 2017 and an announcement on the preliminary results from Phase 1 is expected to be made before the programme ends.