Cornish Metals Inc. (LON:CUSN, TSX-V:CUSN) announced an increase in resource estimates at the iconic South Crofty tin mine in Cornwall.
An updated mineral resource estimate (MRE) showed a 10% increase in indicated resources in both the lower mine and upper mine areas and an almost 130% gain in inferred resources at the lower mine. The JORC-compliant MRE was divided into the lower mine and upper mine areas for reporting purposes.
"We are very pleased with the outcome of this new mineral resource estimate, which shows a material increase in both tonnage and contained tin in the ground at South Crofty,” said Richard Williams, chief executive of Cornish Metals.
“Following on from our successful surface drilling campaign in 2020, where we intersected high-grade tin mineralisation below the historical workings, this new mineral resource estimate confirms our belief in the resource expansion potential at South Crofty.”
The indicated resource estimate rose 10.2% to 2.08mln tonnes (Mt) grading 1.59% tin for the lower mine, while the inferred resource estimate was up 129.8% to 1.94Mt grading 1.67% tin for the lower mine.
The tonnage and contained tin in the updated resource estimate are much higher for the lower mine than the tonnage and tin equivalent in the upper area. Cornish Metals is looking to re-open the South Crofty mine, which was closed in 1998 following more than 400 years of almost continuous production.