Strategic Minerals has delivered a major upgrade to its Redmoor tungsten-tin-copper project in Cornwall, with an updated resource estimate showing a 49% increase in tonnage to 17.4 million tonnes.
The new estimate, completed to JORC (2012) standards, grades at 0.65% tungsten trioxide equivalent and contains 85.8 thousand tonnes of tungsten trioxide, 29 thousand tonnes of tin and 76.3 thousand tonnes of copper. There’s also a sizeable silver credit of over 3.2 million ounces.
Investors cheered the update, and Strategic Minerals shares rose 4% on the news.
Compared to the previous 2019 estimate, contained tungsten is up 31%, tin up 55% and copper up 30% — driven by nine new drillholes completed in 2025, the incorporation of historical 1980s drilling data, and a revised geological model that picked up previously unmodelled mineralisation zones.
Perhaps most significantly for project economics, the potential mine life has more than doubled from 12 to 29 years at the production rate used in the 2020 Scoping Study.
The company also reaffirmed Redmoor’s status as Europe’s highest-grade undeveloped tungsten project, at 0.49% WO₃, among CRIRSCO-compliant resources.
Mark Burnett, Strategic Minerals’ Executive Director, said: “The significant increases in tonnages, contained tungsten and other metals, and the inclusion of silver have provided a transformational uplift in Redmoor’s MRE. Importantly, mineable tonnage has increased 2.4 times and presents the potential for a 29-year life of mine, at the 2020 Scoping Study production rates of 600 Kt/pa, as compared with a 12-year life of mine previously. The Company will now rapidly progress to prefeasibility study (“PFS”) to test these new production scenarios and optimise the model.
“Redmoor is Europe’s highest grade, undeveloped, tungsten resource compared to other CRIRSCO-compliant projects, and amongst the highest grade globally. The Company is committed to advancing Redmoor at pace, with today’s results highlighting the contained metal potential of the Project. A fully funded infill drilling campaign to increase resource confidence for the conversion of inferred to indicated mineral resources is commencing and expected to scale up before the summer through the addition of more drill rigs, with the Company fully focussed on the delivery of the PFS work programme.”