Strategic Minerals (SML)

Sector:

Engineering

Index:

FTSE AIM All-Share

0.25p
   
  • Change Today:
      0.002p
  • 52 Week High: 0.30
  • 52 Week Low: 0.090
  • Currency: UK Pounds
  • Shares Issued: 2,015.96m
  • Volume: 5,774,734
  • Market Cap: £5.08m
  • RiskGrade: 283

Strategic Minerals begins trenching programme west of Redmoor

By Josh White

Date: Tuesday 23 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Strategic Minerals announced on Tuesday that its wholly-owned subsidiary Cornwall Resources (CRL) is starting a trenching and auger exploration programme to investigate the possible presence of extensions of mineralisation up to 1,000 metres to the west of the already-established Redmoor resource.
The AIM-traded firm said multiple prospective targets for tin and copper had been identified in a review of historic exploration data to the west of the Redmoor deposit.

Historic drill intercepts reported up to 1.26% tin over 2.55 metres in core, and 0.23% tin in percussion samples.

It added that "significant" soil anomalies featured values of up to 1,500 parts per million of tin and 630 parts per million of copper.

The anomalies had a similar trend to known mineralisation further east.

Strategic Minerals said CRL would implement a low-cost combined trench and powered-auger sampling programme, to assess the potential of those anomalies as targets for future reconnaissance drilling.

"From our advanced understanding of the geology of the region, we consider it likely that the western potential of Redmoor extends farther away from the granite intrusions which drove the mineralisation in the area," said Peter Wale, executive director of Strategic Minerals and director of CRL.

"As such, the mineralisation is likely to be richer in those metals that are typically distributed more distally from the source, such as tin and copper."

Wale described Redmoor as a "world-class" undeveloped deposit with a JORC-compliant inferred resource of 11.7 million tonnes at 1.17% tin equivalent, and was understood to remain open at depth and along strike.

"The proposed work programme is designed to increase our confidence in the strike continuity of the main Redmoor system, to investigate a number of separate tin and copper lode-style targets, and to act as a precursor to further work associated with the recent Deep Digital Cornwall grant.

"Accordingly, the proposed western trenching and auger exercise represents a cost-effective programme as a first step in assessing the wider potential for tin and copper at Redmoor."

At 1226 GMT, shares in Strategic Minerals were down 9.73% at 0.51p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SML Market Data

Currency UK Pounds
Share Price 0.25p
Change Today 0.002p
% Change 0.80 %
52 Week High 0.30
52 Week Low 0.090
Volume 5,774,734
Shares Issued 2,015.96m
Market Cap £5.08m
RiskGrade 283

SML Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
88.36% above the market average88.36% above the market average88.36% above the market average88.36% above the market average88.36% above the market average
70.59% above the sector average70.59% above the sector average70.59% above the sector average70.59% above the sector average70.59% above the sector average
Price Trend
47.77% above the market average47.77% above the market average47.77% above the market average47.77% above the market average47.77% above the market average
37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% above the sector average
Income Not Available
Growth
90.79% below the market average90.79% below the market average90.79% below the market average90.79% below the market average90.79% below the market average
93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average93.94% below the sector average

SML Dividends

No dividends found

Trades for 28-Mar-2024

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16:35 50,000 @ 0.25p
16:35 50,000 @ 0.25p
15:40 24,412 @ 0.25p
15:40 400 @ 0.25p
15:40 5,000 @ 0.25p

SML Key Personnel

CFO Karen Williams

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