Strategic Minerals plc (AIM: SML; USOTC: SMCDF) has provided a programme update on its Redmoor Tungsten-Copper-Tin Project in Cornwall, UK, confirming that the resource infill drilling programme has surpassed 7,500 total metres across 13 completed drillholes. The company reports that all completed holes have intersected the Sheeted Vein System (SVS) mineralised system where expected, with visually identified wolframite, chalcopyrite, and cassiterite present. Notably, drillhole CRD054 has intersected SVS veining and mineralisation within the underlying granite body for the first time, a development the company states could warrant further investigation if confirmed by assay results. The Programme is described as on time and within budget.

Key Points

  • Strategic Minerals plc (AIM: SML; USOTC: SMCDF) — international mineral exploration and production company
  • Redmoor infill drilling programme has completed 13 drillholes exceeding 7,500 metres, including 11 of 42 planned infill holes and 2 metallurgical holes
  • 883 samples from five drillholes submitted to external laboratory; CRD054 marks first-ever SVS intersection within the granite body at Redmoor
  • Investors may be watching for assay results and the forthcoming updated Mineral Resource Estimate to gauge potential resource conversion

Redmoor Infill Drilling Programme Delivers 13 Completed Holes Across Three Drill Pads

Strategic Minerals' wholly owned subsidiary Cornwall Resources Limited (CRL) is operating three rigs simultaneously at Redmoor, situated within the historically significant Tamar Valley Mining District in Cornwall. Rig 1 on Drill Pad 4 has completed seven drillholes including one metallurgical hole, with an eighth currently underway. Rig 2 on Drill Pad 1 has completed three drillholes totalling more than 1,500 metres, with a fourth recently commenced. Rig 3 on Drill Pad 5 has completed three drillholes testing the westernmost portions of the Redmoor resource, with a fourth and final drillhole on that pad nearing completion. Each infill drillhole is designed to meet strict tolerance guidance for planned intersect points to support potential resource conversion.

CRD054 Intersects SVS Mineralisation Below Modelled Granite Boundary at Redmoor

The most geologically significant development disclosed in the announcement is drillhole CRD054's intersection of SVS veining and mineralisation within the underlying granite body, downdip of the currently modelled SVS high-grade domains. This represents the first time CRL has recorded this style of intersection at Redmoor, with visually identifiable wolframite and chalcopyrite logged by CRL geologists. The company states that if similar intersections are confirmed in subsequent drilling and supported by assay results, this could warrant further investigation of resource potential. Assay results for CRD054 remain pending, and the announcement cautions that visual core photographs are selected examples and not necessarily representative of all mineralisation encountered.

New Cassiterite Structures Identified North of Modelled Redmoor Resource Boundary

Drilling at Rig 3 on Drill Pad 5 has intersected the full thickness of the Redmoor SVS and the previously modelled North Tin Zone, with visually logged cassiterite mineralisation confirmed. CRL geologists have additionally identified new structures containing visually identified cassiterite mineralisation north of the modelled resource and North Tin Zone. The company states results will be announced pending laboratory analysis. Redmoor carries a JORC (2012) compliant total inferred mineral resource of 17.40 million tonnes at an average NSR of US$324 per tonne, published on 26 March 2026, encompassing tungsten, tin, copper, and silver domains across the SVS.

Strategic Minerals Advances Toward Updated MRE as Leigh Creek Sale Funds Redmoor Focus

The company states it is moving firmly toward publishing an updated Mineral Resource Estimate and initiating an advanced metallurgical testwork programme to support a future Feasibility Study. Proceeds from the November 2026 sale of the Leigh Creek Copper Mine in South Australia to South Pacific Mineral Investments Pty Ltd, trading as Cuprum Metals, are stated to be earmarked to further advance the flagship Redmoor Project. The sale structure includes upfront cash alongside layered consideration comprising shares, royalties, and an earn-out. Rig 1 is expected to move drill pads before a planned short cessation of drilling over the Christmas holidays, the announcement states.