Cornwall Resources Ltd has identified four new zones of “potentially economic” tungsten-tin-copper mineralisation within the Redmoor deposit and outside of the mineral resource estimate.
TARGETS
The company also delineated newly identified mineralised structures as well as signing a new mineral rights agreement.
Assay results are from the first samples of 194 new drillcore across three 2019 diamond core drillholes.
CRL said that potentially economic mineralisation is within the sheeted vein system (SVS) and include tungsten trioxide grades of 0.94% WO3 over 4.12 metres from 606.75m.
Elevated tin concentrations were up to 0.25% over 1.39m from 552.55m.
Newly identified intercepts of potentially economic mineralisation outside of the Redmoor SVS include grades of up to 1.19% copper over 1.65m from 360.40m.
The company added that the results confirm its drillholes contained additional zones of mineralisation as extensions or additional mineralised zones within the Redmoor SVS and new intercepts outside of the SVS.
A total 4,900m of drill core from seven drillholes has to date been relogged, representing 35% of drillcore from all CRL’s previous drillholes.
Assays also received for three grab samples from May 2024 collected during reconnaissance mapping of the Tamar Valley licence, returned grades including 1.72% tin and 0.26% WO3.
A second batch of 65 diamond drillcore samples from two further re-logged drillholes were dispatched to ALS Laboratories, Loughrea, Ireland, at the end of June. Additional samples for a third batch have been identified and are being prepared for dispatch and analysis.
LICENCE
CRL’s new exploration licence and mining option, valid from August 2024, is with a third major mineral rights owner for all mineral rights they own in East Cornwall.
The five-year deal, with a renewal option, includes 5.46 km² of registered minerals rights in the Tamar Valley area, in and around the company’s existing exploration footprint.
The company will pay an annual rent to the mineral rights owner, and subject to conversion to a mining lease, a net smelter return royalty on production of any minerals recovered from the leased area.
The agreement increases CRL’s total mineral rights operating area to 91.67 km² Tamar Valley mining district.
Project manager Dennis Rowland added that further positive results using improved methodologies were expected from the low-cost review of existing drillcore.
“It is expected that following completion of this programme of works that both the understanding of the Redmoor deposit will have increased, leading to improved future drill targeting, and an assessment made for the potential for an update to Redmoor’s existing mineral resource estimate based on new results and the improved understanding of the deposit.”