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Manufacturing

Tin mining firm Cornish Metals signs new prospecting deal

The Canadian-headquartered company will explore an area which has historically been one of the most productive for tin mining in The Duchy

A map of the mining site showing the newly leased area Cornish Metals will explore(Image: Cornish Metals)

Mining company Cornish Metals has reached a new agreement to explore an area which historically has been one of the most productive for tin mining in Cornwall.

The Canadian-headquartered firm has agreed a prospecting deal with Roskear Minerals which will allow it to search for minerals across a near 50-hectare area less than a mile south of its South Crofty mine in The Duchy, where it is hoping to restart tin mining.

Exploration targets in this area include the sections of the Great Flat Lode - an underground tin-bearing structure which following its discovery in the 1860s became the site of significant mining development during the late 19th century.

Notable mines in the area include Wheal Frances to its south, Wheal Basset mines to the east, South Carn Brea Mine to the north-east and Great Condurrow Mine to the west.

Cornish Metals said it would be exploring previously mined sections of the Great Flat Lode, as well as the Wide Formation, another tin-bearing structure which is thought to exist parallel to and beneath it.

The Aim-listed firm’s initial lease will run for five years, with an option to extend for a further five years and, if successful, conversion to a mining lease at any time within the 10-year period.

The terms of the lease require Cornish Metals to pay an annual rent to Roskear Minerals, plus a tin price-based sliding scale net smelter return royalty on production of any minerals recovered from the leased area under a subsequent mining lease.

Richard Williams, chief executive of Cornish Metals, said: “This lease agreement with Roskear Minerals opens up an area we believe has significant exploration potential, covering a large section of the historic Great Flat Lode, and any other potential zones of tin mineralisation between the Great Flat Lode and South Crofty.”