Cornish Tin adds major new lithium acreage at Tregonning South, and updates on tin potential
Peak grades so far have reached as high as 6.28% tin.
One hole, GWV24004, was drilled to test a conceptual tin target, known as the Goldilocks zone, beneath Wheal Vor, in an unexplored zone above the buried granite contact.
The hole delivered proof of concept, and returned nine separate intercepts within a mineralised zone over 155 metres in width from approximately 100 metres below the Vor historic workings.
Grades from this hole went as high as 2.37% tin.
Some of the intercepts within the Goldilocks cluster also contained high grade copper including 0.47 metres grading 2.57% copper and 0.49 metres grading 2.91% copper.
Based on the conceptual model, Cornish Tin’s potential tin target zone in this location, which is predicted to continue down to the granite contact, would be almost three times the size of the Vor historic workings.
Cornish Tin has also released details of a report on the Tregonning lithium project undertaken by Wardell Armstrong. This report outlines a maiden exploration target for Tregonning of between 67 million and 328 million tonnes of ore grading at between 0.26% and 0.32% Li2O.
However, this exploration target does not include the potential on offer from the separate Tregonning South area, which Cornish Tin has recently added to its portfolio. The acreage of the Tregonning South area is around 2.1 times greater than the Tregonning area.
On 14th February 2025 a Deed of Exploration with scheduled Mining Lease was completed, granting comprehensive exploration and extraction rights for all minerals to Cornish Tin over the Tregonning South area.
The Tregonning South area is located between the Tregonning area to the north and Megiliggar Rocks to the south. The Tregonning South area, encompassing approximately 765 acres, is interpreted by the company to have similar bedrock geology as the 363 acre Tregonning area.
Lithium-enriched aplite-pegmatite sheets discovered by the company in the Tregonning area also appear present in Megiliggar Rocks approximately three kilometres to the south.
In light of all this, Cornish Tin has already designed its next tin exploration drilling program, based on its successful tin results at the Great Wheal Vor Project.
And, at Tregonning South, the geology team has started soil sampling and other research in order to zero in on the locations for the initial lithium-focused drillholes. These will aim at demonstrating continuity of the new lithium field across both the Tregonning and the Tregonning South areas.
Research at Tregonning has also demonstrated that this rare G5 granite also locally contains some high tin values.
Separately, the company has received confirmation that HMRC has granted it EIS status. HMRC has issued compliance certificates in respect of all the company’s EIS qualifying UK individual shareholders.
The company is now looking to raise around £3 million to advance its tin and lithium assets and for working capital.
“Thanks to all our shareholders and supporters, and the brilliant work and determination of our geology team, we have already been able to deliver exploration results of global significance in both tin and lithium,” said Sally Norcross-Webb, chief executive of Cornish Tin.
“Now, more than ever, it is vital for the UK to achieve its own domestic supply of critical minerals, and we intend to advance both our tin and lithium assets accordingly”.
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Watch for details of the ongoing fundraising. Initially, existing shareholders will get the information, but in the past Cornish Tin has also raised money through crowdfunding. As a privately-held company it’s able to avoid the vagaries of the market and spare shareholders the white-knuckle rides that investors in listed companies have been on over the past few years. It can stay private because the assets are in the UK and are attractive enough for UK investors to come in directly without needing the security of an easy exit. And the next drilling campaign will be interesting to watch, as it appears Cornish Tin really is on the cusp of uncovering some really big deposits.
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