Drilling Commenced At Redmoor, Cornwall

RNS Number : 1147A

Strategic Minerals PLC

22 March 2017

 

22 March 2017

 Strategic Minerals plc

("Strategic Minerals" or the "Company")

Drilling Commenced At Redmoor, Cornwall

Strategic Minerals plc (AIM: SML; USOTC: SMCDY), the diversified mineral production and development company, confirms that Energold Drilling Corp. ("Energold"), the drilling company appointed by Cornwall Resources Limited ("CRL"), has informed CRL that it has commenced drilling at the Redmoor project in Cornwall, England.  Energold has been contracted to undertake a 23 hole drill programme to be completed in two phases.  The aim of the drill programme is to confirm and extend the high grade tin-tungsten resource at Redmoor.

Commenting, Strategic Minerals' Managing Director, John Peters, said:

"The commencement of drilling of the 13 hole, phase 1 drilling programme, so quickly after funding, is a testament to the skills of our development team and to the support we have received from the residents of Kelly Bray and Callington, as well as that of the wider Cornwall community."

"Phase 1 drilling is expected to be completed in the third quarter of 2017 and it is anticipated that interim lab results from the first few holes will be released in Q3 with a full report expected to be released in Q4 upon completion of lab analysis of all 13 holes."

"Phase 2 of the drilling programme is expected to comprise a further 10 holes and is also planned to be completed this year."

Please refer to the announcement made by the Company on 26 May 2016 for more information about the Redmoor tin/tungsten project.  Information on the project is also available on our website and pictures of the drilling activities will be added as available.

For further information, please contact:

Strategic Minerals plc John Peters Managing Director   www.strategicminerals.net Follow Strategic Minerals on: Twitter: @SML_Minerals LinkedIn: strategic-minerals-plc	[phone]
SP Angel Corporate Finance LLP Nominated Adviser and Joint Broker Ewan Leggat Laura Harrison	[phone]
Optiva Securities Limited Joint Broker Graeme Dickson	[phone]
Yellow Jersey PR Financial PR Felicity Winkles Alistair de Kare-Silver Joe Burgess	[phone]

Notes to Editors

Strategic Minerals Plc is an AIM-quoted, diversified mineral development and production company with projects in Australia, England and the United States of America. The Company is focused on acquiring and developing cash generative, high quality projects which meet local market demand for commodities and utilising this cash flow to undertake value added exploration. 

In September 2011, Strategic Minerals purchased its first cash generating asset; the Cobre magnetite tailings dam project in New Mexico, USA. This was brought into production in 2012 and continues to provide a revenue stream for the Company. The portfolio was expanded in January 2016 with the acquisition of shares in Central Australian Rare Earths Pty Ltd, which holds tenements in Western Australia and the Northern Territory that are prospective for cobalt, gold, nickel sulphides and rare earths. The Company also has a 50% interest in the Redmoor Tin/Tungsten project in Cornwall, UK, via its shareholding in Cornwall Resources Limited, the joint venture company with New Age Exploration Limited.

 

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