“On behalf of the Board of Directors I want to thank Richard for the many achievements he made and obstacles overcome to bring the Company and the
ABOUT
- South Crofty is a historical, high-grade, underground tin mine that started production in 1592 and continued operating until 1998 following over 400 years of continuous production;
- The Project possesses Planning Permission for underground mining (valid to 2071), to construct new processing facilities and all necessary site infrastructure, and an Environmental Permit to dewater the mine;
- South Crofty has the 4th highest grade tin Mineral Resource globally and benefits from existing mine infrastructure including multiple shafts that can be used for future operations;
- Tin is a Critical Mineral as defined by the
UK ,USA , and Canadian governments, with approximately two-thirds of the tin mined today coming fromChina ,Myanmar andIndonesia ; - There is no primary tin production in
Europe orNorth America ; - Tin connects almost all electronic and electrical infrastructure, making it critical to the energy transition – responsible sourcing of critical minerals and security of supply are key factors in the energy transition and technology growth;
- South Crofty benefits from strong local community and regional and national government support.
Cornish Metals has a growing team of skilled people, local toCornwall , and the Project could generate 250 – 300 direct jobs.
An updated Mineral Resource was completed in
South Crofty Summary (JORC 2012) Mineral Resource Estimate | ||||
Area | Classification | Mass (kt) | Grade | Contained Tin / Tin Equivalent (kt) |
Indicated | 2,896 | 1.50% Sn | 43.6 | |
Inferred | 2,626 | 1.42% Sn | 37.4 | |
Indicated | 260 | 0.99% SnEq | 2.6 | |
Inferred | 465 | 0.91% SnEq | 4.2 | |
The Mineral Resource Estimate for South Crofty is available in a report titled “
TECHNICAL INFORMATION
The technical information in this news release has been compiled by Mr. Owen Mihalop who has reviewed and takes responsibility for the data and geological interpretation. Mr. Owen Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is Chief Operating Officer for
ON BEHALF OF THE BOARD OF DIRECTORS
“Patrick F. N. Anderson”
For additional information please contact:
investors@cornishmetals.com info@cornishmetals.com | ||
Tel: +1 (604) 200 6664 | ||
(Nominated Adviser & Joint Broker) | Tel: +44 203 470 0470 | |
Cavendish (Joint Broker) | Tel: +44 131 220 6939 Tel: +44 207 220 0500 | |
(Financial Adviser) | cornish@hannam.partners Tel: +44 207 907 8500 | |
BlytheRay (Financial PR) | tim.blythe@blytheray.com megan.ray@blytheray.com Tel: +44 207 138 3204 | |
Neither the
Caution regarding forward looking statements
This news release 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 and the Company’s ability to obtain financing when required and on terms acceptable to the Company, future or estimated mine life and other activities or achievements of
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 upcoming work programmes; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; outcome of the current Feasibility Study; projected dates to commence mining operations; 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. The list is not exhaustive of the factors that may affect Cornish’s forward-looking statements.
Cornish Metals’ 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 the Company 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.
Market Abuse Regulation (MAR) Disclosure
The information contained within this announcement is deemed by the Company to constitute inside information pursuant to Article 7 of EU Regulation 596/2014 as it forms part of
Source:
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