RESULTS from the latest five drilling holes at Redmoor Mine at Kelly Bray have been released and have added ‘confidence’ of its resource potential.

Australian Mining Company New Age Exploration (NAE) acquired an exploration licence and the right to develop and operate a mine at Redmoor in 2012. Cornwall Resources Ltd (CRL) was subsequently set up — a joint venture between NAE and Strategic Minerals — for the Redmoor Tin-Tungsten mine project.

Earlier this year CRL began the two-phase drilling programme to identify and expand resources.

The findings from holes 11 to 15 of the Phase 1 diamond drilling programme have shown continued successful high-grade tin and tungsten assay results within the sheeted vein system (SVS).

These results better the findings from the first ten holes of the drilling programme which had even then exceeded expectations of NAE’s directors in September.

Peter Wale, director of Cornwall Resources Ltd, said: ‘These latest five holes at Redmoor have continued to build our confidence in the calibre of the resource potential for this project.

‘The results reinforce our expectations for Redmoor to reach production and become an integral part of the renaissance in Cornish Mining, where we believe there to be significant potential.

‘We are extremely proud of the work that the local team at Redmoor has undertaken, lead by Brett Grist, our exploration manager in the region. I would also like to acknowledge Energold Drilling for their consummate work on what is a rare UK located drilling programme. Finally, I’d like to express my gratitude to the local community for their continued confidence and support in the project.’

NAE managing director Gary Fietz added: ‘These new results from the Redmoor drilling programme continue to show broad intercepts from high-grade zones within the SVS with even higher grades than those released in September. This continues to support the potential for an underground mining project focussed on the high-grade zones within the SVS.’

Highlights of the report, released on Tuesday, show that there is a high-grade mineralisation inter-sected in Kelly Bray Lode and that drilling is expected to be finished imminently by when a total of 20 holes will have been drilled during 2017.

CRL’s joint venture partners NAE and SML have also committed to joint fund a further £180,000 — in addition to the further £150,000 announced in September 2017 — to cover two additional Phase 2 holes, which will increase Phase 2 to a total of five holes. The results from the second phase will be released after completion of logging, core cutting and laboratory analysis.