Cornish Metals announces plans for tin mine project in 2024
The AIM-listed company is working to revive production at the South Crofty mine near Redruth.
A Cornish mining company has said it will start “underground infill drilling” this year as it looks to progress its plans to mine tin in the Duchy.
AIM-listed Cornish Metals is working to revive production at the South Crofty tin mine. Last September it began a major dig on the southern boundary of the mine in Pool near Redruth.
The Canadian-headquartered firm says this year it will continue with the mine dewatering, while refurbishing the pump station, and will also continue with its South Crofty feasibility study, with most components expected to be completed – with the exception of the infill drilling – in the first half of 2024.
The business is planning to carry out a preliminary economic assessment before the end of the first half of the year and will finish its 14-hole and 9,000-metre wide formation exploration drill programme, it added.
Richard Williams, chief executive and director of Cornish Metals, said: “The Cornish Metals team worked tirelessly in 2023, achieving numerous important milestones, while further advancing and de-risking the South Crofty project. Chief among these are the construction of the WTP and commencement of dewatering of the mine that continues to progress extremely well with water levels drawing down as expected. Activity levels are expected to remain high through 2024 with more important milestones to be met as we work to further progress the South Crofty project towards a construction decision.”
Cornish Metals bought the South Crofty mine in 2016. The mine is a high-grade underground tin mine that started production in 1592 and was operating until 1998 when the mine was closed.