Europe’s highest grade undeveloped tungsten deposit – and the 2nd highest globally
Background
Globally significant high-grade resource
Highly profitable robust economics with rapid payback
Potential significant source of global strategic/critical metals supply
Held via our Cornwall Resources subsidiary, the Redmoor Tungsten-Copper-Tin Project, near Callington in the historical Tamar Valley mining district of Cornwall, covers 23.6 km² under long-term mineral rights agreements with an option to mine for up to 50 years.
Cornwall Resources is focused on advancing this world-class, high-grade polymetallic project.
At a Glance
History: Commenced active exploration in 2017, acquired by Strategic Minerals in 2019
Findings: Defined a significant high-grade inferred resource consisting of tungsten, copper and tin within the Redmoor Sheeted Vein System
Resource: Resource: JORC (2012) Mineral Resource Estimate of 17.4 Mt @ 0.49% tungsten, 0.17% tin, and 0.44% copper, equivalent to 0.65% WO₃ Eq
Economics: Base Case of $1.54 Bn NPV(8%) & 40% IRR
Minerals: Potential to supply ~30% of Europe’s tungsten needs – this metal is key to advanced manufacturing and defence. Resource also includes tin – important in technologies including solar PV and electronic screens – and copper – critical for energy transition technologies
Mission: To develop Redmoor into a leading source of critical and strategic minerals to provide resilience to western world supply chains
Current Activities
Currently undertaking the largest, continuous Diamond Drilling programme undertaken from surface in GB this century to progress Redmoor through prefeasibility. 22,500 metres are being drilled with three rigs, targeting completion by Q2 2027. Core objectives include infill drilling to increase confidence in the existing resource and support future resource upgrades, the generation of material for detailed metallurgical testing, and testing the Exploration Target and extensions to mineralisation, alongside geotechnical and hydrogeological data collection.
Project Expansion
In 2024, Cornwall Resources signed a landmark agreement with the Duchy of Cornwall, the estate of the Prince of Wales, expanding its mineral rights adjacent to Redmoor by a further 64.35 km2. The area covers historical mine workings and has great potential to provide satellite developments to Redmoor.
Cornwall Resources’ mineral rights footprint covers the highly prospective Tamar Valley Mining District, an area of rich historical tungsten, copper and tin mining.
For more information on Cornwall Resources and the Redmoor Project, visit our subsidiary website www.cornwallresources.com
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