LONDON (ShareCast) - (Sharecast News) - Strategic Minerals shares were surging on Monday, after the company said its latest drilling results from the Redmoor tungsten-tin-copper project in Cornwall confirmed multiple high-grade mineralised zones, reinforcing its position as one of the highest-grade undeveloped tungsten deposits globally.
Laboratory assays from borehole CRD033, the first from the company's 2025 drilling programme, revealed continuous high-grade tungsten and copper mineralisation across the full 90-metre thickness of the Redmoor Sheeted Vein System.

Notable intercepts included 3.05 metres at 1.43% tungsten trioxide and 0.54% copper from 439.7 metres, 6.7 metres at 1.17% tungsten trioxide and 0.24% copper from 447 metres, and 3.4 metres at 1.24% tungsten trioxide and 0.12% copper from 493 metres, with peak grades reaching 4.18% tungsten trioxide.

Tin results were still being reviewed and will be reported separately.

Cornwall Resources Limited, Strategic Minerals' wholly owned subsidiary, said the results confirmed both strong grade continuity and new mineralised zones within and beyond the current resource model.

"These initial results demonstrate high tungsten grades and support Redmoor's position as one of the highest-grade deposits globally," said managing director Dennis Rowland.

"These results are from only one borehole and yet demonstrate multiple, stacked zones of high-grade intersections within the Redmoor deposit that correlate well with existing modelled high-grade zones."

Rowland added that the findings from CRD033, which twinned a 1980s drill hole, could help validate historical data and contribute to an updated mineral resource estimate.

Executive chairman Charles Manners said the results underscored Redmoor's strategic significance amid rising global demand for critical minerals.

"The 2025 drilling programme is progressing very well and already providing impressive results, with these high-grade intersections further demonstrating Redmoor's globally significant status," he said.

"With tungsten prices rising significantly this year, and a global push to secure access to critical and strategic minerals, Redmoor is well placed as a world leading asset."

Two drilling rigs were currently operating at the site, with further assay results and updates expected in the coming weeks as the company continued its most active exploration phase in recent history.

At 1607 BST, shares in Strategic Minerals were up 78.95% at 0.85p.

Reporting by Josh White for Sharecast.com.

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