Strategic Minerals (AIM: SML) has commenced what it believes is the largest continuous surface diamond drilling programme undertaken in Cornwall and Great Britain this century, as it advances the Redmoor Tungsten-Tin-Copper Project in Cornwall.
Following final planning clearance, the company has mobilised two additional drill rigs, expanding the operation to three active rigs as work begins on a planned 22,500-metre drilling programme, targeted for completion in the second quarter of 2027.
The campaign will comprise at least 44 resource infill drill holes and nine metallurgical holes drilled from seven permitted drill pad locations, supporting the project’s progression through feasibility studies towards potential mine development.
Strategic Minerals said drilling is now underway on holes CRD046 and CRD047, with site preparation and rig mobilisation completed.
Cornwall Resources managing director Dennis Rowland said the expansion follows the completion of planning and pre-commencement requirements, allowing drilling activities to accelerate across the project.
Executive director Mark Burnett described the programme as a major milestone, reflecting both the scale of the Redmoor opportunity and the company’s commitment to advancing the project as quickly as possible.
Separately, Strategic Minerals has granted 13.15 million share options to selected directors and employees in recognition of performance and to support long-term retention as Redmoor progresses towards development.
The options carry an exercise price of 4p, an 11% premium to the previous closing mid-market share price, vest in two equal tranches after one and two years, and remain valid for five years.
