Cornish Metals Inc (AIM:CUSN, TSX-V:CUSN, OTC:SBWFF) said it completed over 10,000 meters of drilling at its United Downs project which confirmed “management’s belief in the potential to develop a mineral resource”.
The mineral exploration and development company said its four main targets were drill tested with all four “returning results warranting further follow-up drilling.”
"After completion of the first phase of the successful exploration program at United Downs, we have now commenced a drill program for the metallurgical testwork which is an integral part of the South Crofty Feasibility Study,” said chief executive Richard Williams.
Focused on projects in Cornwall, the company also said it completed financing of £40.5mln to advance the South Croft tin project to a potential construction decision, with metallurgical test work having started in July.
“All substantial component parts of the water treatment plant ordered with construction expected to commence before the end of October 2022,” the statement said.