Strategic Minerals PLC (LON:SML) is continuing to hit high-grade tin intersections in drilling at its Redmoor project in Cornwall, south-west England.
Among the highlights of the latest results were 7.41 metres at 2.11% tin equivalent from around 298 metres depth, 7.83 metres at 1.52% tin equivalent from 156 metres, and just over 15 metres at 1.01% tin equivalent from 312 metres.
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The second phase of drilling is now nearing completion, but further joint venture funding for the subsidiary undertaking the work, Cornwall Resources, has now been put in place to cover an extra two holes.
A resource update is expected in the first quarter of 2018.
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"These latest five holes at Redmoor have continued to build our confidence in the calibre of the resource potential for this project,” said Peter Wale, director of Cornwall Resources.
“The results reinforce our expectations for Redmoor to reach production and become an integral part of the renaissance in Cornish mining, where we believe there to be significant potential.”