Business
Redmoor - Infill Drilling Contract Signed
Strategic Minerals plc has signed a drilling contract with Priority Drilling UK for an infill drilling programme at its Redmoor tungsten-tin-copper Project, aiming to convert inferred resources to indicated resources and produce a reserve calculation. This programme is fully funded by a previously announced £4 million placing and will commence with one drill rig, with further drilling planned pending planning permission. The company notes the current strong market for tungsten, with APT prices reaching $2,250/mtu, significantly above historical baselines. Disclaimer*
About this update from Strategic Minerals Plc
[{"type":"text","content":"\n\n \n \n17 March 2026\n \nStrategic Minerals plc\n(\"Strategic Minerals\" or the \"Company\")\nRedmoor - Infill Drilling Contract Signed\n \nNew drilling contract with Priority Drilling UK for infill drilling programme at Redmoor - Europe's highest grade undeveloped tungsten resource*1\nStrategic Minerals plc (AIM: SML; USOTC: SMCDF), an international mineral exploration and production company, is pleased to announce that its wholly owned subsidiary, Cornwall Resources Limited (\"CRL\"), has signed a drilling contract with Priority Drilling UK Ltd to commence a resource infill drilling campaign as part of the prefeasibility study programme at its wholly owned Redmoor tungsten-tin-copper Project (\"Redmoor\"), in southeast Cornwall.\nHighlights\n· Contracting is complete between CRL and Priority Drilling UK Ltd for a new drilling programme at Redmoor.\n· The programme is designed to enable conversion of inferred mineral resources to indicated mineral resources, and to produce a reserve calculation for the Redmoor deposit, as part of, and subject to, successful completion of the planned prefeasibility study programme.\n· Drilling is fully funded through the previously announced £4m placing completed in January (see RNS 22 January 2026).\n· The programme will begin with one drill rig, which has arrived at Redmoor (see Figure 1), and will commence following the completion of site preparatory works. The initial drill pads will utilise drill pads previously permitted as part of the 2025 programme.\n· A planning permission application is expected to be submitted in early April, covering additional drill pads and for the expansion of drilling operations, subject to approval.\n· CRL has a positive track record in securing permissions for drilling operations and works closely with local stakeholders and the planning authority to ensure the route to planning approval and the effectiveness of the drilling operations.\n· Further programme details will be released in due course.\nCRL notes that the price of tungsten in ammonium paratungstate (\"APT\") form, a key intermediate product, was reported to have reached APT $2,250/mtu*2 (metric ton unit) ($225,000 ton of APT) on 13 March 2025, with EU/US...