VANCOUVER, British Columbia, Sept. 23, 2021 (GLOBE NEWSWIRE) — Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”) reports that it has added a second drill rig to its ongoing 8,000 metre (“m”) – 9,000m drill programme at United Downs, Cornwall, UK. The second rig will explore Trenares Lode, a new target located approximately 900m south of UD Lode where drilling is continuing (see map). The most recent details on the status of drilling at the UD lode were provided in Cornish Metals’ news release dated August 30, 2021.
Trenares Lode, located 300m south of the former producing Mount Wellington Mine, is a polymetallic (copper – tin – zinc) target that was discovered in the 1970s by Cornwall Tin & Mining Ltd. The lode was first identified through surface drilling and subsequently an exploration drift was extended towards the lode from Mount Wellington 4 Level, however no further exploration work was conducted after Mount Wellington Mine closed in 1977. The Company believes the Trenares Lode represents a prospective new target in an area where no historic mining has taken place.
Drilling has commenced at Trenares Lode and the initial programme will involve up to 12 holes from four locations over the next three months.
Richard Williams, CEO, stated: “The ongoing United Downs drilling programme focused on the UD Lode has successfully demonstrated the existence and the continuity of mineralisation in the holes returned to date. The addition of a second drill rig allows us to test additional targets that have been identified. We look forward to sharing results as they are received.”
ABOUT CORNISH METALS
Cornish Metals is exploring and evaluating development options for the South Crofty tin and United Downs copper / tin projects, plus additional mineral rights located in Cornwall, UK. The additional mineral rights cover an area of approximately 15,000 hectares and are distributed throughout Cornwall. Some of these mineral rights cover old mines that were historically worked for copper, tin, zinc, and tungsten.
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P.Geo
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 programs; actual results of proposed exploration activities; possible variations in Mineral Resources or grade; 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.
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (“MAR”), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
CONTACT: For additional information please contact: In North America: Irene Dorsman at (604) 200 6664 or by e-mail at irene@cornishmetals.com 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 Ernest Bell Tel: +44 207 907 8500 Blytheweigh (Financial PR/IR-London) Tim Blythe tim.blythe@blytheweigh.com Megan Ray megan.ray@blytheweigh.com Tel: +44 207 138 3204
