Le Lézard
Classified in: Mining industry, Covid-19 virus
Subject: ANALYSTS' COMMENTS

Cornish Metals Updates on Good Progress of Dewatering South Crofty Mine


VANCOUVER, British Columbia, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Cornish Metals Inc. (AIM/TSX-V: CUSN) ("Cornish Metals" or the "Company"), a mineral exploration and development company focused on its South Crofty Tin Project ("South Crofty" or the "Project") in Cornwall, United Kingdom, is pleased to provide an update on the progress of dewatering of South Crofty Mine.

Mine Dewatering Tracking Ahead of Expectations

Richard Williams, CEO and Director of Cornish Metals, stated: "The start of dewatering of South Crofty Mine was an important milestone for the Company and it is pleasing to see the water level in the NCK shaft dropping faster than expected over the last month. We remain focussed on our objective to complete the dewatering of South Crofty within 18 months."

Background

ABOUT CORNISH METALS

Cornish Metals is a dual-listed company (AIM and TSX-V: CUSN) focused on advancing the South Crofty high-grade, underground tin Project through to delivery of a Feasibility Study, as well as exploring its additional mineral rights, all located in Cornwall, United Kingdom. Cornish Metals has a growing team of skilled people, local to Cornwall. The former producing South Crofty tin mine is located beneath the towns of Pool and Camborne, and closed in 1998 following over 400 years of continuous production.

An updated Mineral Resource was completed in September 2023 (see news release dated September 13, 2023) as summarised below:

South Crofty Summary (JORC 2012) Mineral Resource Estimate
AreaClassificationMass
(kt)
Grade

Contained Tin /
Tin Equivalent
(kt)
Lower Mine

Indicated2,8961.50% Sn43.6
Inferred2,6261.42% Sn37.4
Upper Mine

Indicated2600.99% SnEq2.6
Inferred4650.91% SnEq4.2


The Mineral Resource Estimate for South Crofty is available in a report titled "South Crofty Tin Project - Mineral Resource Update NI 43-101 Technical Report", dated October 27, 2023, co-authored by Mr. N. Szebor (MCSM, MSc, BSc, CGeol, EurGeol, FGS) and Mr. R. Chesher (FAusIMM(CP), RPEQ, MTMS) of AMC Consultants, and can be accessed through the above link and on the Company's SEDAR page.

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.

ON BEHALF OF THE BOARD OF DIRECTORS

"Richard D. Williams"
Richard D. Williams, P.Geo

For additional information please contact:

Cornish Metals

Fawzi Hanano
Irene Dorsman
[email protected]
[email protected]
  Tel: +1 (604) 200 6664

SP Angel Corporate Finance LLP
(Nominated Adviser & Joint Broker)
Richard Morrison
Charlie Bouverat
Grant Barker
Tel: +44 203 470 0470

   
Hannam & Partners
(Joint Broker)
Matthew Hasson
Andrew Chubb
Jay Ashfield
[email protected]
Tel: +44 207 907 8500

   
BlytheRay
(Financial PR)
Tim Blythe
Megan Ray
[email protected]
[email protected]
Tel: +44 207 138 3204
   
   

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 UK domestic law by virtue of the European Union (Withdrawal) Act 2018 as amended.

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.

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 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.

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.

 



These press releases may also interest you

at 20:02
Wajax Corporation ("Wajax" or the "Corporation") today announced its 2023 fourth quarter and annual results. All monetary amounts are in Canadian dollars unless otherwise noted. Selected Highlights for the Fourth Quarter and Full Year Fourth quarter...

at 19:34
GR Silver Mining Ltd. ("GR Silver Mining" or the "Company") ?announces that it has advanced negotiations and entered into commercial agreements with private local operators (mining and milling operators) in the Rosario Mining District, in Sinaloa,...

at 18:57
AGCO, Your Agriculture Company , a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, announced today that it will participate in the 2024 Morgan Stanley Technology, Media & Telecom...

at 18:47
Canada's mining industry will be a key enabler of the clean energy transition at home and around the world and remains a major contributor to economic growth and job creation in Canada. The Government of Canada is committed to working with the mining...

at 18:10
Infinitum Copper Corp. ("Infinitum" or the "Company") is pleased to announce a private placement to raise gross proceeds of up to C$450,000 through the issue of up to 22,500,000 units of the Company (the "Units") at a...

at 17:40
Dolly Varden Silver Corporation (the "Company" or "Dolly Varden") is pleased to announce that it has entered into an agreement with Research Capital Corporation, as the sole bookrunner and co-lead underwriter, and together with Haywood Securities...



News published on and distributed by: