Strategic Minerals plc (AIM: SML) shares jumped 22% after the company announced strong assay results from drillhole CRD036 at its Redmoor Tungsten–Tin–Copper Project.
The results confirmed high-grade tungsten mineralisation, with WO₃ grades of up to 1.85%, alongside copper grades of up to 1.09% and very high-grade tin mineralisation reaching 1.92% Sn. Elevated silver values were also reported, peaking at 33.9 g/t, associated with copper-rich zones.
Strategic Minerals said the assays demonstrate continuity of mineralisation within the Sheeted Vein System and validate historical drill data, which could reduce the amount of additional drilling required ahead of a future Mineral Resource estimate. The results also support the presence and continuity of tin-copper lode structures within the existing Redmoor Mineral Resource, strengthening confidence in the project’s geological model.
Twinning Results and Model Updates
Positive results from the drillhole twinning, and new insights into Redmoor deposit, including:
· Twinning results between CRD036 and RM80_05B & 05C (1980s drillholes) highlight continuity of structures and reproducibility of historical results. This provides confidence for the use of the 1980s drillhole data in the deposit model and Mineral Resource estimate (“MRE”) thereby reducing future prefeasibility drilling requirements.
· Drillhole results have returned multiple zones of high-grade tin and copper intersections, supporting the presence and continuity of tin-copper lode structures within the existing Redmoor Mineral Resource, which will be further studied as part of the MRE update – these will be further detailed in a forthcoming update on the new Redmoor deposit model.
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Figure 1: Box photos with sample intervals (Yellow Arrows), highlighting an 18.50m intersection including highlighted high-grade tungsten and tin intervals. All samples are listed in tungsten trioxide equivalent (WO3.Eq). |
Dennis Rowland, CRL Managing Director, said:
“The assay results report a trifecta of high-grade tungsten, tin and copper intersections for the first time from the 2025 programme within a tin-dominant zone of the deposit, along with analytical results for silver – which are being further investigated as part of ongoing metallurgical studies.
Drillhole results continue to return multiple zones of high-grade tin and copper intersections, supporting the presence and continuity of tin-copper lode structures within the existing Redmoor Mineral Resource, which will be further modelled. This drillhole was designed as a twin of holes drilled by Southwest Minerals (SWM) in the 1980s and provides further confidence in these historical datasets.
Following the receipt of these results, an update on the new Redmoor deposit model and the outcome of the twinning programme is expected shortly.”
Mark Burnett, Strategic Minerals Executive Director, said:
“Positive results such as these further highlight Redmoor’s position as the highest-grade, undeveloped tungsten resource in Europe, and amongst the highest grade globally.
This is a crucial time for critical minerals projects, given significant global supply chain shifts alongside export controls resulting in a marked increase in metal prices and interest in the sector. The Board are focussed on the acceleration of the Redmoor project through an updated mineral resource and planned prefeasibility study (“PFS”) thereafter. This will be supported by the recently completed fundraise for a significant infill drilling programme, designed to shorten drillhole spacing within the resource, as the major requirement for converting the deposit to an Indicated resource classification ahead of the planned PFS.”
