Strategic Minerals gained after kicking off its largest-ever drilling campaign at the Redmoor tungsten, tin and copper project in Cornwall — a push to move one of Europe’s highest-grade tungsten assets towards feasibility.
Key points
- A 22,500-metre diamond drilling programme has begun at Redmoor
- Three rigs are turning across 53 planned drill holes
- The project hosts a resource of 17.4Mt at 0.65% WO3 equivalent
- The campaign is funded by an £8.7m raise completed earlier in 2026
What happened
Strategic Minerals (AIM: SML) said its Cornwall Resources subsidiary had begun a 22,500-metre diamond drilling programme at the Redmoor tungsten-tin-copper project in Cornwall — its largest continuous campaign to date. Three rigs are now turning across 53 planned holes.
The project
Redmoor’s 2026 resource estimate stands at 17.4 million tonnes at 0.65% tungsten-trioxide (WO3) equivalent, including tin and copper credits — a grade that ranks it among Europe’s highest-grade undeveloped tungsten assets. The company has said recent work lifted its inferred resources by 49%. Tungsten is classed as a critical mineral, used in cutting tools, electronics and defence.
Why it matters
The drilling combines resource expansion, infill work and technical data-gathering aimed at advancing Redmoor toward a feasibility study. Funding came from an £8.7m raise completed earlier in 2026. For a junior miner, converting a high-grade resource into a feasibility-ready project is the step that unlocks the path to development.
What happens next
Investors will look for drill results through the campaign and for progress toward the feasibility study that would underpin any development decision.
The update was published via regulatory news (RNS); further detail via Investegate.
This article is for general information only and does not constitute investment advice or a recommendation to buy or sell any security. Photo: WORKSITE Ltd. on Unsplash.
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