CORNISH TIN NEWS UPDATE 18 MARCH 2025
CORNISH TIN NEWS UPDATE 18 MARCH 2025
WINNER OF THE EXPLORATION DISCOVERY OF THE YEAR AWARD
UK MINING CONFERENCE CORNWALL JUNE 2024
WINNER Of THE EXPLORATION DISCOVERY OF THE YEAR AWARD
MINES & MONEY (RESOURCING TOMORROW) LONDON DECEMBER 2024
JORC EXPLORATION TARGET REPORT ON TREGONNING LITHIUM PROJECT
NOW RELEASED
Cornish Tin Limited (“Cornish Tin” or the “Company”) is pleased to provide an update on progress as follows:
· Confirmation was received by the Company in December 2024 that HMRC had finally granted the Company EIS status. HMRC then issued compliance certificates in respect of all the Company’s EIS qualifying UK individual shareholders.
· The Company has now completed 9277.6 m of diamond core drilling: Phase 1 from April to December 2022, and Phase 2 from February to May 2024. Of this total, 7,272.6 metres have been drilled on the Great Wheal Vor Project (tin focused drillholes) and 2,005 metres have been drilled on the Tregonning Lithium Project (lithium focused drillholes).
· The Company has made new discoveries of multiple high grade tin structures (peak grades so far of up to 6.28% Sn) including the Goldilocks Cluster, Metal North, Hichens Lode, St Pirans and a number of other high grade tin targets, as described in the Company’s Exploration Update dated 10th March 2025 now available on the Company’s website. As one example, drillhole GWV24004 was drilled to test a conceptual tin target (the Goldilocks zone) beneath Wheal Vor, in an unexplored zone above the buried granite contact. This concept was proved: nine separate intercepts within a mineralised zone over 155 metres in width (at a vertical depth from approx 100 metres below the Vor historic workings) including grades peaking at 2.37% Sn. Some of the intercepts within the Goldilocks Cluster also contained high grade copper including 0.47 metres @ 2.57% Cu and 0.49 metres @ 2.91% Cu. This proof of concept discovery has far-reaching implications. Based on the conceptual model, Cornish Tin’s potential tin target zone in this location, which is predicted to continue down to the granite contact, would be almost three times the size of the Vor historic workings.
· Also now released and on the Company’s website is the Exploration Target Report (“JORC Report”) on the Tregonning Lithium Project, by Wardell Armstrong International Limited (part of SLR), dated 27th February 2025, in accordance with the requirements of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (the JORC Code). The maiden Exploration Target (see section 13.4 of the JORC Report) for the Tregonning Lithium Project is:
67 – 328 million tonnes grading at 0.26 – 0.32% Li2O
· This Exploration Target relates to the initial Tregonning area as identified in the JORC Report. Section 13.5 of the JORC Report states that “Two notable opportunities at Tregonning not captured by the Exploration Target estimate are value derived from potential by-products and untested exploration potential at the separate Tregonning South area over which [the Company] has acquired mineral rights control. The acreage of the Tregonning South area is ~2.1 times greater than the Tregonning area.”
· The Tregonning South area is a new mineral rights area for the Company which has been under exclusive option to the Company for approx 2 years, and on 14th February 2025 a Deed of Exploration with scheduled Mining Lease was completed, granting comprehensive exploration and extraction rights (all minerals) to the Company over the Tregonning South area. The Tregonning South area is located between the Tregonning area to the north and Megiliggar Rocks to the south. The Tregonning South area, of approx 765 acres, is interpreted by the Company to have similar bedrock geology as the Tregonning area of 363.7 acres. For example, lithium-enriched aplite-pegmatite sheets discovered by the Company in the Tregonning area also appear present in Megiliggar Rocks approx 3km to the south.
· The Company has already designed its next tin exploration drilling program, based on its successful tin results at the Great Wheal Vor Project. At Tregonning South, our geology team has now started a detailed soil sampling program and other research in order to finalise the initial lithium focused drillholes with a view to demonstrating continuity and extent of the new lithium field across both the Tregonning and the Tregonning South areas. Research at Tregonning has also demonstrated that this rare G5 granite also locally contains some high tin values.
· Total funds raised from January 2022 to date (placing and retail) comprise just under £4.9 million. The Company is now looking to raise ~£3 million, to advance its tin and lithium assets and for working capital.
Sally Norcross-Webb, CEO and Founder, commented:
“Thanks to all our shareholders and supporters, and the brilliant work and determination of our geology team, we have already been able to deliver exploration results of global significance in both tin and lithium. Now, more than ever, it is vital for the UK to achieve its own domestic supply of critical minerals, and we intend to advance both our tin and lithium assets accordingly”.
Further information about Cornish Tin
· Cornish Tin is a private company limited by shares registered in the UK under company number 10935627, incorporated in 2017. The Board comprises two directors, Sally Norcross-Webb (Founder and CEO) and Clive Newall (Chairman and co-founder).
ON BEHALF OF THE BOARD OF DIRECTORS
Sally Norcross-Webb
Founder and CEO
Cornish Tin Limited
Cornish Tin Limited
sn@cornishtin.uk
Forward looking statements
This News Update contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements”). Forward-looking statements include predictions, projections, outlook, guidance, estimates and forecasts and other statements regarding future plans, the realisation, cost, timing and extent of mineral resource or mineral reserve estimates, estimation of commodity prices, currency exchange rate fluctuations, estimated future exploration expenditures, costs and timing of the development of new deposits, success of exploration activities, permitting time lines, requirements for additional capital, future or estimated mine life and other activities or achievements of Cornish Tin, including but not limited to: mineralisation in relation to Cornish Tin’s projects, Cornish Tin’s exploration drilling programs, strategic vision of Cornish Tin and the timing and results of its projects. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “forecast”, “expect”, “potential”, “project”, “target”, “schedule”, “budget” and “intend” and statements that an event or result “may”, “will”, “should”, “could”, “would” or “might” occur or be achieved and other similar expressions and includes the negatives thereof. All statements, other than statements of historical fact, included in this News Update are forward-looking statements that involve various risks and uncertainties and there can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.
Forward-looking statements are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to receipt of regulatory approvals, risks related to general economic and market conditions; risks related to the availability of financing; the timing and content of current or future activities; actual results of exploration activities; possible variations in mineral resources or grades; projected dates to commence any activity; failure of plant, equipment or processes to operate as anticipated; accidents, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; changes in national and local government regulation of mining operations, tax rules and regulations.
Cornish Tin’s forward-looking statements are based on the opinions and estimates of management and reflect their current expectations regarding future events and operating performance and speak only as of the date such statements are made. Although Cornish Tin has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward- looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate and accordingly readers are cautioned not to place undue reliance on forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. Cornish Tin does not assume any obligation to update forward-looking statements if circumstances or management’s beliefs, expectations or opinions should change, other than as required by applicable law.
