Cornish Metals Inc’s revised mineral resource estimate (MRE) showed an increase of contained tin in the indicated and inferred categories at South Crofty.
REVIEW
A 31.6% increase was recorded in the indicated while the inferred saw a rise of 15.5% in contained tin.
The MRE, prepared in-house and externally verified, focuses on the tin-only section in the lower mine area which underwent a review, including further digitisation and modelling of historical data.
The upper mine polymetallic area and assay results from recent metallurgical testwork drilling of the existing major structures at depth – No.4, No.8, Roskear and North Pool zone – have also been added.
Cornish Metals said that the majority of new mineral resources were contained within the central part of the mine in No. 1, No. 2, No. 3, Main, Intermediate, North and Great lodes.
The major lode structures comprising the mineral resource remain open along strike and at depth.
AMC Consultants (UK) Ltd, which independently reviewed and verified the estimate, will prepare a revised NI 43-101 technical report.
FEASIBILITY STUDY
Chief executive officer and director Richard Williams said: “This is another positive development for South Crofty as we advance the project through to delivery of a feasibility study (FS) by the end of 2024 and continue to demonstrate the potential to increase the project’s mineral resource and mine life.
“The updated MRE will be incorporated into the FS mine plan scheduled for release before the end of 2024.”