Strategic Minerals plc (LON:SML) highlighted the world-class potential of the Redmoor project as it revealed a new mineral resource estimate.
It was estimated that Redmoor contains some 137,000 tonnes of inferred tin resources, up from 45,000 tonnes.
Overall the resource amounted to 11.7mln tonnes of material with a tin equivalent grade of 1.17%.
WATCH: Strategic puts Redmoor tin mine back on the map
The new estimates follow a successful phase of drilling during 2018, and, the company highlighted the improvement from the prior estimate – a 200% rise in contained metal, 160% increase in resource tonnes, and 17% tin equivalent.
Redmoor now ranks as one of the leading undeveloped tin-tungsten mining projects in the world, the company said.
"In the company's view, the independent assessment of the inferred tin equivalent resource highlights the world-class potential of the Redmoor project and sets an important milestone,” said Peter Wale, executive director.
“The significantly upgraded resource statement validates the strong drilling results received during the 2018 programme.
“This provides the company and its joint venture partner, New Age Exploration, confidence to progress towards the goal of restarting mining at Redmoor.”