Cornish Metals upbeat on Wide Formation drilling results

The AIM-traded firm said the drilling programme successfully confirmed the geometry and continuity of tin mineralisation within a significant area, further enhancing the potential of the South Crofty project.

It said the Wide Formation structure was verified over a strike length of more than 2,500 metres and a downdip extent of at least 800 metres, with true thicknesses varying from two to 10 metres.

The structure remained open at depth and along strike, indicating further exploration potential.

Notable tin intercepts within the structure included 10.55 metres grading 0.19% tin, with a higher-grade zone of 1.49 metres at 0.72% tin.

Additionally, the drilling programme identified several high-grade, steeply dipping 'Dropper' zones between the Great Flat Lode and the Wide Formation.

Significant results from those zones include 2.07 metres grading 0.85% tin and 1.56 metres at 0.76% tin.

The programme also discovered a new structure, interpreted as the eastern extension of the Great Condurrow Mine’s Main Lode, with notable intercepts including 2.11 metres grading 0.58% tin and 5.48% copper.

“This drilling programme has validated the Wide Formation as a new, large-scale, tin-bearing exploration target that is potentially accessible from the underground workings at South Crofty,” said director and interim chief executive officer Ken Armstrong.

“Mineralisation has been traced over a 2,500-metre extent, up to 800 metres down dip, and remains open along strike and to depth.

“Furthermore, in addition to the earlier discovery of the Great Flat Lode Splay and new 'Dropper' zones of high-grade tin mineralisation, the discovery of polymetallic tin and copper mineralisation within the interpreted extension of the Great Condurrow Mine's Main Lode further demonstrates the exploration potential of the South Crofty area.”

At 1126 BST, shares in Cornish Metals were up 7.45% at 7.5p.

Reporting by Josh White for Sharecast.com.