Cornish Metals Inc. (TSXV: CUSN | AIM: CUSN), has put out an updated mineral resource estimate (MRE) on its South Crofty tin project located in Cornwall, UK. This update from the 2021 MRE places the project on track towards a feasibility study and production decision as soon as 2024.
The focus of this new MRE is the Lower Mine area tin-only section of the project, which has been subject to a thorough review, including further digitization and modelling of historical data, but the Upper Mine polymetallic area has also been reported using current metal prices. Furthermore, assay results from recent drilling of the existing major structures at depth (No.4, No.8, Roskear, and North Pool Zone) as part of a metallurgical testwork programme, have been incorporated into the new MRE.
Overall, the new MRE showed a 39.0% increase in tonnes and 31.6% increase in contained tin in the indicated category, and a 35.6% increase in tonnes and 15.5% increase in contained tin in the inferred category.
Cornish Metals CEO, Richard Williams, commented, “This is another positive development for South Crofty as we advance the project through to delivery of a feasibility study (FS) by the end of 2024 and continue to demonstrate the potential to increase the project’s mineral resource and mine life.”
Most new resources are contained within the central part of the mine in No. 1, 2, 3, Main, Intermediate, North, and Great lodes following digitization and modelling of historical data. The major lode structures of the resource remain open along strike and at depth.
The South Crofty project is host to a historical, high-grade, underground tin mine that started production over 400 years ago and continued operating until 1998. Between that period, about 450,000t of tin have been mined.
Since acquiring the project in 2016, the company has demonstrated the economic viability of re-opening the operation and additional mineral rights containing past-producing mines. The property currently covers 1,490ha and 26 former producing mines.
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