Cornish Metals makes progress at South Crofty Tin Project

(Sharecast News) - Mineral explorer and developer Cornish Metals reported progress in its ongoing feasibility study at the South Crofty Tin Project on Monday, executing substantial portions with positive advancements in metallurgical test-work and other essential study components. The AIM-traded firm reported excellent results in metallurgical test-work, including XRT ore sorting and heavy liquid separation (HLS) pre-concentration test work.

Specifically, XRT ore sorting resulted in a 55% mass rejection and less than 3% metal loss, while HLS offered a 50% mass rejection and under 5% metal loss.

Both XRT ore sorter and HLS test-work, performed by TOMRA Sorting and Wardell Armstrong International, respectively, used bulk composite samples across five mineralised zones in South Crofty.

Those zones - No. 4 Lode, No. 8 Lode, Roskear B/D Lodes, North Pool Zone, and Dolcoath South - represented the majority of potential production areas in the initial six years of the proposed mine life.

The encouraging results confirmed the upgrading potential of South Crofty mineralisation and also supported ongoing process design optimisation efforts aimed at reducing the mineral processing plant's size and significantly decreasing capital costs, operating costs, and environmental impact.

Aside from the promising metallurgical test-work, Cornish Metals said it had also completed several components of the feasibility study.

Those completed elements encompassed headframe structural modelling and refurbishment, schedule and costing for refurbishment and recommissioning of New Cooks Kitchen and New Roskear shafts, televiewer investigations, and geotechnical rock testing.

Other accomplishments included conceptual numerical modelling of proposed underground mining methods and stope designs, the completion of phase one of the metallurgical test-work programme, concept engineering on paste backfill options, and ground investigations for the new mineral processing plant.

At the same time, several feasibility study components were still in progress.

Those included the mineral processing plant design and layout, the underground mine design and optimisation, a mine ventilation study, underground infrastructure design and hoisting analysis, a feasibility study level engineering design for the paste backfill plant, and hydrogeology, environmental, social, marketing, and closure studies.

Furthermore, AMC Mining Consultants was appointed to review and compile the feasibility study independently and has accomplished initial gap analysis and site visits.

"We expected the mineralisation at South Crofty to respond well to x-ray transmission ore sorting, but these results exceed even our most optimistic expectations," said director and chief executive officer Richard Williams.

"XRT ore sorting has proven highly effective at pre-concentrating mineralisation sampled from five different zones of the South Crofty deposit.

"We expect this result will have a positive effect on the project economics, allowing for lower power consumption and a smaller process plant and, therefore, lower capital and operating costs.

"In addition, good progress is being made on the feasibility study as project activities continue at pace at South Crofty."

At 1549 BST, shares in Cornish Metals were up 5.26% at 10p.

Reporting by Josh White for Sharecast.com.