Ann: Redmoor 2018 Resource Update, page-60

The report

"A PROJECT to rebuild a working ‘world class’ mine at Redmoor has reached a ‘major milestone’.
An updated target for the Redmoor Project at Kelly Bray was announced last week by Australian Mining Company New Age Exploration (NAE) following the completion of a 20-hole diamond drilling programme.
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.
Following the results from 2017, the drilling programme at Redmoor Mine showed high-grade tin and tungsten assay results within the sheeted vein system (SVS) — considerably higher grades than previously reported.
And these results show that the resource is one of the richest in the world at the moment.
The updated Inferred Mineral Resource and Exploration Target has now been defined, and, compared with the 2015 resource statement, show almost a doubling in the size of the high-grade resource.
NAE managing director Gary Fietz said: ‘The updated Redmoor Inferred Mineral Resource and Exploration Target is a major milestone on the path to rebuilding a working mine in the Redmoor area.
‘The announcement demonstrates the potential for the Redmoor Project to host sufficient high-grade tungsten, tin and copper mineralisation to support an underground mining project. The one per cent SnEq (tin equivalent) resource grade is truly world class and sets the Redmoor project apart from the majority of competitor tin and tungsten projects.
‘A targeted work programme is currently being developed aimed at not only expanding and upgrading the current resource, but also commencing metallurgical testwork and engineering aimed at advancing the project towards Pre-Feasibility Study completion in 2019.’
The drilling that was completed during 2017 both confirmed the continuity of, and extended, the previously reported SVS mineral resource, which remains potentially economic and will continue to be assessed by the company.
The latest report stated that the Inferred Resource and Exploration Target marked the achievement of a major milestone for the Redmoor Project following the completion of the 2017 drilling programme undertaken by CRL: ‘This sets a solid foundation, including a greatly improved understanding of the geology and mineralisation of Redmoor, which will support the advancement of the project through 2018 and towards Pre-Feasibility Study completion in 2019.’
Callington Town Council Portreeve Mark Smith said: ‘The resource is one of the richest in the world at the moment.
‘From the town council’s point of view we are looking forward to 2018 to see what this project holds with the continuation of job prospects.
‘There will be more drilling in the next year."

GLALTH