Cornish Metals Reports That First Submersible Pump Fully Installed to 360m Depth
June 27 2023 - 2:00AM
Cornish Metals Inc. (
TSX-V/AIM:
CUSN) (“Cornish Metals” or the “Company”) is pleased to
report that the first of two submersible pumps has now been
installed to the target depth of 360m below surface in New Cooks
Kitchen shaft at the South Crofty tin mine, Cornwall, UK.
Installation of this pump is an important milestone in the
Company’s plans to commence dewatering of the South Crofty mine
later this summer. The installation required the connection and
lowering of the pump on 120 three metre long steel pipes, which are
suspended in the shaft for the phase 1 dewatering.
Richard Williams, CEO and Director, stated; “A
big ‘proper job’ well done to the team at South Crofty for
achieving this milestone in less time than planned. This pump
installation is a technical exercise and the team did a fantastic
job, completing the task safely with no incidents. We anticipate
the second pump to be installed by the end of July.”
The pumps are specialist high-head 950 kW
vertical submersible pumps manufactured by KSB in Germany,
controlled by variable speed drives to enable the 25,000 cubic
metres (m3) per day pumping rate to the Mine Water Treatment
Plant.
Work on the Mine Water Treatment Plant continues
with 95% mechanical completion, and work is now focused on the
electrical and instrumentation installation. It is anticipated that
the plant commissioning will be completed later this summer and
mine dewatering to commence immediately thereafter.
Images of the pump installation can be found
here.
BACKGROUND
- South
Crofty is an historic, high-grade, underground tin mine that
started production in the sixteenth century, and continued
operating until its closure in 1998;
- The
Company is executing a comprehensive mine dewatering and
feasibility study programme intended to lead to delivery of a
Feasibility Study by the end of 2024;
- The
Project possesses Planning Permission for underground mining, valid
to 2071, Planning Permission to construct a mine water treatment
plant, new processing facilities, all necessary site
infrastructure, and an Environmental Permit to dewater the
mine;
- South
Crofty has the 4th highest grade tin Mineral Resource globally and
benefits from the presence of multiple shafts that can be used for
future operations;
- Tin is a
Critical Mineral as defined by the UK, USA, and Canadian
governments, with approximately 75% of the tin mined today coming
from China, Myanmar and Indonesia;
- There is
no primary tin production in Europe or North America;
-
Responsible sourcing of critical minerals and security of supply
are key factors in the energy transition and technology
growth;
- South
Crofty benefits from strong local community and regional and
national government support. The Project could generate 250 – 300
direct jobs.
ABOUT CORNISH METALS
Cornish Metals is a dual-listed company (AIM and
TSX-V : CUSN) focused on advancing the South Crofty high-grade,
underground tin project through to delivery of a Feasibility Study,
as well as exploring its additional mineral rights, all located in
Cornwall, South West England. The former producing South Crofty tin
mine is located beneath the towns of Pool and Camborne, and closed
in 1998 following over 400 years of continuous production. Since
acquiring the project in 2016, Cornish Metals has completed and
published maiden NI 43-101 Mineral Resources for South Crofty using
the vast archive of historical production data and more recent
drilling completed between 2007 and 2013. Additionally, Cornish
Metals has undertaken extensive pilot-scale water treatment trials
and successfully applied for and received the necessary
environmental permits to abstract, treat and discharge mine water
in order to dewater the mine. Planning permissions for the
operation of the mine and re-development of the surface facilities
have been secured and construction of the water treatment plant is
currently well underway.
An updated Mineral Resource was completed in
June 2021 as summarised below:
South Crofty Summary (JORC 2012) Mineral Resource
Estimate |
Area |
Classification |
Mass (‘000 tonnes) |
Grade |
Contained Tin / Tin Equivalent (‘000 tonnes) |
Increase in contained Tin / Tin equivalent from 2016
MRE |
Lower Mine |
Indicated |
2,084 |
1.59% Sn |
33 |
10.2% |
Inferred |
1,937 |
1.67% Sn |
32 |
129.8% |
|
Upper Mine |
Indicated |
277 |
1.01% SnEq |
3 |
9.5% |
Inferred |
493 |
0.93% SnEq |
5 |
8.0% |
The Mineral Resource Estimate for South Crofty
(see news release dated June 9, 2021), is available in a report
titled the “South Crofty Tin Project Mineral Resource Update”,
dated June 7, 2021, authored by Mr. N. Szebor, CGeol (London),
EuroGeol, FGS, of AMC Consultants (UK) Ltd, can be accessed through
the link or on the Company’s SEDAR page.
The technical information in this news release
has been compiled by Mr. Owen Mihalop who has reviewed and takes
responsibility for the data and geological interpretation. Mr. Owen
Mihalop (MCSM, BSc (Hons), MSc, FGS, MIMMM, CEng) is Chief
Operating Officer for Cornish Metals Inc. and has sufficient
experience relevant to the style of mineralisation and type of
deposit under consideration and to the activity which he is
undertaking to qualify as a Competent Person as defined under the
JORC Code (2012) and as a Qualified Person under NI 43-101. Mr.
Mihalop consents to the inclusion in this announcement of the
matters based on his information in the form and context in which
it appears.
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) |
Tel: |
+44 203 470 0470 |
|
Richard Morrison |
|
|
Charlie Bouverat |
|
|
Grant Barker |
|
|
|
|
Hannam & Partners(Joint
Broker) |
Tel: |
+44 207 907 8500 |
|
Matthew Hasson |
|
|
Andrew Chubb |
|
|
Jay Ashfield |
|
|
|
|
BlytheRay(Financial PR/IR-London) |
Tel: |
+44 207 138 3204 |
|
Tim Blythe |
tim.blythe@blytheray.com |
|
Megan Ray |
megan.ray@blytheray.com |
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 programmes;
actual results of proposed exploration activities; possible
variations in Mineral Resources or grade; outcome of the current
Feasibility Study; projected dates to commence mining operations;
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.
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