Cornwall Resources Ltd missed a grant after match funding failed for the conditional offer from the Cornwall and Isle of Scilly Council for its Redmoor tungsten-tin project.
APPLICATIONS
The company said it had received a “strong letter of support” from a “party developing similar deposits” but external factors resulted in no funds forthcoming.
Short notice and restricted project timelines also prevented other parties from investing.
CRL’s planned activities for the second half of 2024 include further historic relogging and sampling on Redmoor’s library of 14,000m drill core.
Field sampling and identification of potential exploration opportunities continue on the Duchy of Cornwall licence as will new collaborative research funding openings with Camborne School of Mines and the Cornish mining community.
Having gained membership of the US Defense Industry Base Consortium (DIBC) and attending the DIBC symposium in San Diego, CRL is preparing to submit a White Paper for funding.
An application will also be made to the European Union for strategic project status which could also result in support and funding.
CRL will also host site visits by investors, research analysts and various other counterparties and stakeholders, including the two new directors in parent company Strategic Minerals plc.
Interim results showed that Strategic Minerals invested US$325,000 in Redmoor.