Conceptual processing plant at South Crofty

Recent News

Cornish Metals Inc. (TSX-V:CUSN, AIM:CUSN), is a dual-listed company 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, SW England. The additional mineral rights, covering an area of approximately 15,000 hectares, have potential for the discovery of tin, copper, lithium, tungsten, zinc and silver mineralization.

The South Crofty Tin Project

The South Crofty project covers the former producing South Crofty tin mine located beneath the towns of Pool and Camborne, Cornwall. South Crofty mine closed in 1998 following over 400 years of continuous production.  Cornish Metals published an updated Mineral Resource Estimate for South Crofty in June 2021.

The Company has undertaken extensive pilot-scale water treatment trials and successfully applied for and received the necessary environmental permits to abstract, treat and discharge mine water in order to dewater the mine. Planning permissions for the operation of the mine and re-development of the surface facilities have been secured and construction of the water treatment plant foundations commenced. The pumps, variable speed drives and new high-voltage power supply have been delivered to site.

In 2022, Cornish Metals raised £40.5 million, including £25 million from metals and mining investment fund, Vision Blue Resources. Proceeds are used to complete a dewatering programme and feasibility study at South Crofty, evaluation of downstream beneficiation opportunities, and potential on-site early works in advance of a potential construction decision.

The United Downs Project

United Downs is located approximately 8km east of South Crofty and lies within a historically important copper mining district called Gwennap.   The area was the richest copper producing region in Cornwall (and the world) in the 18th and early 19th centuries, and at that time was referred to as “the richest square mile on earth”.

Other Interests

In January 2017 Cornish Metals entered into an agreement with Cornish Lithium, whereby Cornish Lithium has the right to explore Cornish Metals’ mineral rights in Cornwall for lithium in brine occurrences while Cornish Metals retains the rights to any hard rock mineralisation.

Additionally, the Company owns the Sleitat tin – tungsten – silver project in Alaska, the Nickel King nickel project in NWT, Canada, and royalties on the MacTung and CanTung projects, located in NWT and Yukon, Canada.

Project Information

Project Name South Crofty
Country UK
Mine Type Underground
Product Concentrates
Output (t/y Sn) ~5,000
Mine Life (years) 8

CRIRSCO Compliant Lower Mine Indicated Resource

Ore (Mt) 2.08 Metal (t)
Sn (%) 1.59 33,000

CRIRSCO Compliant Lower Mine Inferred Resource

Ore (Mt) 1.94 Metal (t)
Sn (%) 1.67 32,000

CRIRSCO Compliant Upper Mine Indicated Resource

Ore (Mt) 0.28 Metal (t)
Sn (%) 1.01 3,000

CRIRSCO Compliant Upper Mine Inferred Resource

Ore (Mt) 0.49 Metal (t)
Sn (%) 0.93 5,000

South Crofty Finance Breakdown

    Cost (£ m)
Mine dewatering   16.1
Underground access / resource drilling   8.5
Surface drilling to expedite feasibility study   4.5
Feasibility study   1.2
South Crofty holding costs   1.7
Corporate and general working capital   8.5
Total   40.5