Strategic Minerals plc (LON:SML) has hit what it says are bonanza grades from the latest drilling programme at Redmoor in Cornwall.
The indications for tungsten, tin and copper were the highest yet seen and had continued into the first hole of the phase 2 programme, added John Peters, Strategic’s managing director.
WATCH: Bonanza grades at Redmoor even better than expected says Strategic Mineral's John Peters
This last hole drilled showed bumper intercepts of up to 29.7% of tin equivalent, reflecting very high levels of tungsten.
Phase 2 has now been expanded by one to five holes within the original budget for the whole programme.
This additional hole, RD032, will test further extensions of the resource in the open down-dip direction.
Peter Wale, executive director, added these were sustained and superb assay results from Redmoor.
The holes drilled confirmed high-grade zones within the Sheeted Vein System.
“We have great confidence for the potential to both increase the resource tonnage and grade at Redmoor and demonstrate the scope for it to become a notably attractive project when these results are converted into a resource estimate early in 2019.”
Redmoor is a joint venture with Australian listed company New Age Exploration.