Cornish Metals (LON, TSX-V: CUSN)  shares rose on Monday on new drill results form its South Crofty tin (Sn) project in southwest England.

The company reported results from the first six drill holes of the ongoing 9,000 metre Carn Brea drill programme.

All six drillholes intersected the Wide Formation lode structure, which is characterized by strong
tourmaline alteration and variable tin mineralization, similar to all historically mined tin-bearing structures
in the South Crofty area.

The Wide Formation structure has been confirmed over a strike length of at least 1.6km, a downdip extent of at least 525m, thicknesses ranging from 1.8m to 4.8m, and remains open.

The company reported notable tin intercepts, including 1.21m grading 0.87% Sn in CB23_004 and 1.90m grading 0.83% Sn in CB23_006, as well as notable tin intercepts from the newly identified Great Flat Lode Splay, including 3.38m grading 1.01% Sn in CB23_002, and 1.00m grading 1.56% Sn in CB23_004. Additionally, notable tin intercepts include 0.30m grading 7.48% Sn and 3.09m grading 1.21% Sn in CB23_001, between the Great Flat Lode and the Wide Formation.

There is currently no primary mine production of tin in Europe or North America and the US has included the metal in a list of minerals considered critical to the country’s economic and national security.

South Crofty could generate up to 5,000 tonnes of tin a year, with first production expected in 2026. The company said the mine will create up to 270 direct jobs and support a further 750 in the region, one of the UK’s most underprivileged.

Shares of Cornish Metals rose 9.3% by 2:10 p.m. EDT. The company has a market capitalization of C$91 million ($67 million).

Source: MINING.COM – Read More