Cornwall Resources Limited
Redmoor Tungsten - Tin - Copper Project in South East Cornwall
Europe's Highest-Grade, Undeveloped Tungsten Resource
Cornwall Resources Limited (“CRL”) is a wholly owned subsidiary of Strategic Minerals Limited (“SML”) (AIM: SML; USOTC: SMCDY) focused on advancing the high-grade, underground Redmoor Tungsten-Tin-Copper Project.
Following the completion of CRL's SPF match grant funded project
an Updated 2026 Mineral Resource Estimate ("MRE") and Economic Sensitivity Analysis were published on 26 March 2026.
· 100% Inferred MRE reported in accordance with JORC (2012) of 17.4 Mt @ 0.65% Tungsten Trioxide Equivalent*1 ("WO3.Eq"):
· Represents a 49% increase in tonnage compared to the previous 2019 MRE
· 2.4x increase in potential mine life from 12 to 29 years, at 2020 Scoping Study production rate
· The 2026 MRE comprises 17.4 Mt at 0.65% WO3 Eq, including 0.49% WO₃, 0.17% Sn and 0.44% Cu: containing 85.8 kt WO3, 29.0 kt Sn and 76.3 kt Cu
· Significant increase in contained metal within the 2026 MRE, including:
· Tungsten trioxide (WO3): 31% increase in contained WO3
· Tin (Sn): 55% increase in contained Sn
· Copper (Cu): 30% increase in contained Cu
· Silver (Ag): with an average grade of 5.8 g/t, and 3,231 koz contained silver. Silver included as a Cu concentrate credit at 270g/t
· An Exploration Target of 1.8 - 3.4 Mt JORC (2012) grading 0.4 - 0.6% WO3, 0.08 - 0.12% Sn and 0.2 - 0.3% Cu
has also been identified outside of the current MRE
· Economic Sensitivity Analysis Results in Standout Economics with Base Case Scenario of Potential After-Tax NPV(8%) of US$1.54B and 40% IRR
Further project details can be found on the Redmoor Project
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