TIDMCUSN
RNS Number : 7541U
Cornish Metals Inc.
07 December 2021
CORNISH METALS REPORTS HIGH-GRADE COPPER AT THE UNITED DOWNS
COPPER - TIN PROJECT
Drill Hole UD21_011A Intersects Multiple Zones of High-Grade
Copper Including
2.53m at 4.61% Copper and 2.73m at 4.45% Copper
Vancouver, December 7, 2021
Cornish Metals Inc. (TSX-V / AIM: CUSN) ("Cornish Metals" or the
"Company") is pleased to report assay results from three diamond
drill holes at the ongoing drill programme at the United Downs
Copper - Tin project, Cornwall, UK.
Key Points
-- Drill hole UD21-011A intersected five parallel zones of
high-grade copper/tin/silver mineralisation beneath the historic
United Mines (see Long Section and Cross Section here ), as
tabulated below;
-- United Mines operated between approximately 1700 and 1870 as
a high-grade underground copper mine with historical grades
reported to be in excess of 7.5% copper;
-- This is the third drill hole to intersect the down dip
extension of United Mines. GWDD-001 and GWDD-002 (drilled in 2020)
intersected 6.91m grading 0.80% copper, and 4.04m grading 4.44%
copper and 2.06% tin (see Long Section below );
-- High grade mineralisation has now been confirmed over a 500m
strike length and is open along strike and to depth;
-- The next drill hole is planned to test this mineralisation a
further 400m along strike to the east;
-- High-grade copper (+ tin-silver) mineralisation in this
region is hosted in metasediments (locally known as "killas"),
which overlie granite;
-- The killas are projected to extend at least 400m below the intercepts in UD21-011A; and
-- The granite underlying United Downs is considered to be
highly prospective for tin mineralisation, as it is at the
Company's South Crofty tin project, located 8km to the west.
Richard Williams, CEO, stated "Management believes that these
latest intersections clearly demonstrate the potential for United
Downs to host a copper/tin/silver Mineral Resource to complement
the identified tin Mineral Resource at South Crofty. Confirmation
that high grade mineralisation continues beneath the historic
United Mines validates the exploration potential we believe exists
throughout Cornwall and within our mineral rights holdings.
"It is very interesting to see the tin grades starting to appear
in the deeper intersections, which adds weight to our theory that
the whole United Downs area is prospective for tin beneath the old
copper mines, the same zonation that is clearly evident at South
Crofty, just a few kilometres to the west."
Drill Hole From To Length Copper Tin Silver
(m) (m) (m) (% Cu) (% Sn) (g/t Ag)
UD21_011A 652.55 655.08 2.53 4.61 0.05 32.4
------- ------- ------- -------- -------- ----------
including 653.57 654.35 0.78 10.40 0.09 73.0
------- ------- ------- -------- -------- ----------
UD21_011A 670.85 673.11 2.26 1.47 0.15 4.4
------- ------- ------- -------- -------- ----------
UD21_011A 676.51 679.24 2.73 4.45 0.12 25.7
------- ------- ------- -------- -------- ----------
including 678.42 679.24 0.82 6.26 0.32 29.8
------- ------- ------- -------- -------- ----------
UD21_011A 701.16 703.74 2.58 2.08 0.67 12.9
------- ------- ------- -------- -------- ----------
including 702.96 703.26 0.30 11.25 0.77 65.3
------- ------- ------- -------- -------- ----------
and 703.26 703.74 0.48 1.42 1.68 7.2
------- ------- ------- -------- -------- ----------
UD21_011A 751.25 751.93 0.68 0.03 0.70 0.3
------- ------- ------- -------- -------- ----------
Note: Reported intercepts are drilled lengths. True thicknesses
of the mineralised intercepts are estimated to range between 70-90%
of the drilled lengths.
Drill holes UD21-009, (100m east of UD21-008) and UD21-010,
(drilled above UD21-008) were drilled to test the extension of
mineralisation encountered in UD21-008 (see news release dated
November 3, 2021 and map here ). Although neither hole returned any
mineralisation of note, this has improved the structural
understanding of the area to the south of UD Lode and the Company
is currently awaiting a renewal of the General Permitted
Development Order ("GPDO") in order to continue drilling in this
area and at UD Lode.
Other Drilling Activities
One drill rig is currently testing the polymetallic Trenares
Target (see map below ), located immediately south of Mt Wellington
Mine within the United Downs project area.
The second drill rig has been moved to test targets on the
southern flank of Carn Brea. Carn Brea is located 1.5km southeast
of the South Crofty tin project and has potential to host
tin-bearing lode structures in the vicinity of the historic Great
Flat Lode mining district.
GEOLOGY AND MINERALISATION
The geology at United Downs comprises metasediments (locally
termed "killas"), which overlie an intrusive granite body. All the
historic copper mines within the area (United Mines and
Consolidated Mines) and the historic tin, copper and zinc mines
(Mount Wellington and Wheal Jane) exploited mineralisation hosted
entirely within killas.
The mineralisation is primarily hosted in narrow, steeply
dipping vein or "lode" structures, and consists of cassiterite
(tin), chalcopyrite (copper) and sphalerite (zinc) with other
copper minerals such as chalcocite and bornite occasionally
present.
United Mines and Consolidated Mines, located 200m south and 400m
north of UD Lode, respectively, operated between the early 1700s
and the 1870s, mining high-grade copper ores (reported grades of
7.5% copper) to depths of up to 500m below surface.
Mount Wellington and Wheal Jane mines exploited similar
structures located along strike from the historic mining at United
Downs, where tin, copper and zinc mineralisation was mined and
processed until 1978 and 1991, respectively. Wheal Jane was mined
to a depth of approximately 500m below surface whereas Mount
Wellington only reached approximately 200m depth before closing.
Mount Wellington is located within Cornish Metals' mineral rights
and was still in mineralisation when the mined closed.
TECHNICAL INFORMATION
Drilling at United Downs is being performed by Priority Drilling
Company Ltd using an Epiroc Christensen CT14 Diamond Drill Rig.
Mineralised zones were drilled in NQ (76 millimetre ("mm")
diameter) to recover a 48mm diameter drill core. Core recovery was
greater than 95%. The core was logged, split and sampled by Cornish
Metals personnel. The samples, comprising half core, were sent for
assay at ALS Minerals, Loughrea, Ireland. Sample preparation
involved crushing to 70% less than 2mm, riffle split and pulverised
to 85% less than 75 microns. The analytical method used was X-ray
fluorescence (XRF) following a lithium borate fusion. Samples that
were assayed using this technique include Cu, Sn, W, Zn and As.
Additionally, a multi-element 4 Acid Digestion ICP-AES analysis was
also carried out to further characterise the mineralisation and
alteration assemblages. Overlimit assays on Ag were carried out
using a 3 Acid Digestion with HCl leach and ICP-AES analysis. A
comprehensive Quality Assurance / Quality Control programme has
been undertaken using standard, duplicate and blank samples
included within the sampling programme.
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
Cornish Metals Inc. and has sufficient experience relevant to the
style of mineralisation and type of deposit under consideration and
to the activity which he is undertaking to qualify as a Competent
Person as defined under the JORC Code (2012) and as a Qualified
Person under NI 43-101. Mr. Mihalop consents to the inclusion in
this announcement of the matters based on his information in the
form and context in which it appears .
ABOUT CORNISH METALS
Cornish Metals owns a 100% interest in the South Crofty tin and
United Downs copper - tin projects, plus additional mineral rights
located in Cornwall, UK, acquired in July 2016 (see Company news
release dated July 12, 2016 ). The Company recently published an
updated Mineral Resource Estimate for South Crofty (see news
release dated June 9, 2021), as summarised in the table below. The
"South Crofty Tin Project Mineral Resource Update" report, dated
June 9, 2021, authored by Mr. Nicholas Szebor (CGeol (London),
EuroGeol, FGS) of AMC Consultants (UK) Ltd, can be accessed on the
Company's website.
South Crofty Summary (JORC 2012) Mineral Resource Estimate
Area Classification Mass ('000 tonnes) Grade Contained Tin / Tin Increase in contained
Equivalent ('000 tonnes) Tin / Tin equivalent
from 2016 MRE
---------------- ------------------- ----------- ------------------------- -------------------------
Lower Mine Indicated 2,084 1.59% Sn 33 10.2%
---------------- ------------------- ----------- ------------------------- -------------------------
Inferred 1,937 1.67% Sn 32 129.8%
----------------------------- ------------------- ----------- ------------------------- -------------------------
Upper Mine Indicated 277 1.01% SnEq 3 9.5%
---------------- ------------------- ----------- ------------------------- -------------------------
Inferred 493 0.93% SnEq 5 8.0%
----------------------------- ------------------- ----------- ------------------------- -------------------------
The additional mineral rights cover an area of approximately
15,000 hectares and are distributed throughout Cornwall. Some of
these mineral rights cover old mines that were historically worked
for copper, tin, zinc, and tungsten.
For additional information please contact:
In North America:
Irene Dorsman at (604) 200 6664 or by e-mail at
irene@cornishmetals.com
In the UK:
SP Angel Corporate
Finance LLP
(Nominated Adviser
& Joint Broker) Tel: +44 203 470 0470
Richard Morrison
Charlie Bouverat
Grant Barker
Hannam & Partners
(Joint Broker) Tel: +44 207 907 8500
Matthew Hasson
Andrew Chubb
Ernest Bell
Blytheweigh
(Financial PR/IR-London) Tel: +44 207 138 3204
Tim Blythe tim.blythe@blytheweigh.com
Megan Ray megan.ray@blytheweigh.com
ON BEHALF OF THE BOARD OF DIRECTORS
"Richard D. Williams"
Richard D. Williams, P.Geo
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release .
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
Caution regarding forward looking statements
This news release contains "forward-looking statements".
Forward-looking statements, while based on management's best
estimates and assumptions at the time such statements are made, 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
COVID-19 global pandemic and any variants of COVID-19 which may
arise; risks related to the availability of financing; the timing
and content of upcoming work programs; actual results of proposed
exploration activities; possible variations in Mineral Resources or
grade; 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.
Although Cornish Metals has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking statements, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. Cornish Metals undertakes no obligation or
responsibility to update forward-looking statements, except as
required by law.
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END
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