Cornish Metals Inc announced a material increase in resource following results of a new mineral resource estimate (MRE) at South Crofty tin mine in Cornwall.
LOWER AND UPPER MINE
Revised figures show a 9.5 to 10% increase in indicated resources in the lower and upper mine area, and nearly 130% rise in inferred resources in the lower mine.
The Canadian company said that the lower mine contained tin mineralisation within quartz-tourmaline veins or ‘lode’ structures, hosted entirely within granitic rocks.
The upper mine contains tin, copper and zinc mineralisation within quartz-chlorite veins, predominantly hosted within meta-sedimentary units.
The major lode structures comprising the mineral resource remained open along strike and to depth.
Cornish Metals expects an updated NI 43-101 technical report within 45 days.
Chief executive officer Richard Williams added that the results showed Cornwall had the potential to become a significant tin producer and help meet climate change goals.
“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.
“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.”