Cornwall Resources Ltd has increased its footprint fourfold in East Cornwall/Tamar Valley under a three-year exclusivity and prospecting agreement with The Duchy of Cornwall.
MINING AREAS
The company said that the deal was the first of its kind in modern times and aimed to advance “commercialisation of The Duchy’s mineral rights.”
CRL will have exclusive mineral rights to certain areas, adjacent to its own Redmoor tin-tungsten-copper licence, within the Duchy’s mineral rights in North and East Cornwall, covering 6,427ha (64.27 km²).
The extra land increases the company’s overall footprint from 23.68 km² to 87.95 km² and includes the historical Tamar Valley mining district.
New areas encompass two parishes where the bulk of mineral rights are owned by the Manor of Stoke Climsland and the Manor of Calstock, belonging to The Duchy of Cornwall.
Also included is a portion of Linkinhorne and Callington parishes, which adjoin the Manors and CRL’s existing mineral rights area.
Historical mines include those of Redmoor, Kelly Bray, Holmbush and other lodes, collectively the Redmoor Consolidated Mines.
CRL will have exclusive exploration for all ores, minerals and metalliferous substances and metals at surface except those reserved for the Coal Authority, the Crown and Mines Royal.
In return the company will pay an annual rent to The Duchy under the agreement which begins from 1 April with an extension option.
Initial work will focus on desktop exploration before the start of “a low-cost, high-impact, regional exploration and targeting programme”.
CRL added it had been in discussions with The Duchy’s representatives over several years and maintained “good community and stakeholder relations, and high environmental standards”.
“As a result of this, CRL has been selected as the flagship company to advance the commercialisation and exploration of The Duchy’s mineral rights.
“This reflects The Duchy’s and CRL’s shared understanding and commitment to sustainability, the strong working relationship established with the Duchy’s representatives and the work ethic demonstrated by CRL through its eight-year history of successful exploration at Redmoor and positive community interactions in the area.”