Strategic Minerals and Cornwall Resources secure groundbreaking deal with Duchy of Cornwall
London, UK
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March 21, 2024 12:12 PM Eastern Daylight Time
Strategic Minerals PLC (AIM:SML, OTC:SMCDF) executive director Peter Wale and Dennis Rowland, project manager at subsidiary Cornwall Resources, join Proactive's Stephen Gunnion with news of a groundbreaking mineral rights deal with the Duchy of Cornwall, marking a first of its kind in modern times.
The agreement enhances the prospects for mining in Cornwall, expanding Cornwall Resources'' mineral rights by four times and covering a wide range of minerals including tin, tungsten, copper, and silver.
Rowland, with a background in geology and extensive experience in mining exploration and development, detailed ongoing projects and the strategic importance of the new mineral rights agreement.
He highlighted Cornwall Resources' Redmoor project, known for its significant tungsten and copper resources, alongside the potential for further exploration and mining in the region.
The agreement, facilitating access to over 60 kilometres of licence areas adjacent to Redmoor, opens up opportunities for exploration in highly prospective areas with a history of productive mining.
The next steps involve detailed geological studies and potential drilling programs to assess the mineralization potential. Furthermore, the company is progressing with a Shared Prosperity Fund grant application to support its initiatives.
Wale also noted that Strategic Minerals is preparing for additional drilling and exploration activities, leveraging the cash flow from its Cobre operations in New Mexico to fund these projects.
The engagement with stakeholders and commitment to environmental and sustainability standards are emphasized, alongside the anticipation of increased news flow and developments in the coming months.
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