Cornish Metals gains permit for United Downs
Richard Williams, CEO of Cornish Metals commented: “The receipt of the drilling permit from Cornwall Council is an important step in our aim of delineating a new high-grade copper-tin resource at United Downs.
“The first phase of the programme will focus on tracing the recently discovered high-grade copper-tin structure along strike and down to a depth of up to 500m. Thereafter, depending on success, we aim to conduct a second phase of infill drilling later in the year to enable a maiden mineral resource to be defined."
Drilling is due to commence from the first of up to five separate drill sites on April 6. The aim of the drill programme is to follow-up on the discovery of high-grade copper-tin mineralisation in drill hole GWDD-002 that recorded 14.69 metres (“m”) at 8.45% copper (“Cu”) and 1.19% tin (“Sn”), as first reported on April 6 2020.
The drilling activities will be contracted to Priority Drilling Ltd and conducted under the supervision of Cornish Metals’ local technical team. The drill programme will be run with full COVID safe guidelines, policies and procedures in place.
“Our local exploration team has worked hard over the last few months to complete the work required for the application and consult with local residents on our plans for the forthcoming campaign,” added Williams.
“Much has happened in the year since we announced the initial discovery, including renaming the company to Cornish Metals and completing a dual listing on the AIM Market of the London Stock Exchange. We now very much look forward to commencing this drill programme and discovering what more this historic mining area has to offer.”
Vale invests $150mn to extend life of Manitoba operations
Vale has announced a $150mn CAD investment to extend current mining activities in Thompson, Manitoba by 10 years while aggressive exploration drilling of known orebodies holds the promise of mining well past 2040.
Global energy transition is boosting the market for nickel
The Thompson Mine Expansion is a two-phase project. The announcement represents Phase 1 and includes critical infrastructure such as new ventilation raises and fans, increased backfill capacity and additional power distribution. The changes are forecast to improve current production by 30%.
“This is the largest single investment we have made in our Thompson operations in the past two decades,” said Mark Travers, Executive Vice-President for Base Metals with Vale. “It is significant news for our employees, for the Thompson community and for the Province of Manitoba.
“The global movement to electric vehicles, renewable energies and carbon reduction has shone a welcome spotlight on nickel – positioning the metal we mine as a key contributor to a greener future and boosting world demand. We are proud that Thompson can be part of that future and part of the low carbon solution.”
Vale continues drilling program at Manitoba
Coupled with today’s announcement, Vale is continuing an extensive drilling program to further define known orebodies and search for new mineralization.
“This $150mn investment is just one part of our ambitious Thompson turnaround story. It is an indicator of our confidence in a long future for the Thompson operations,” added Dino Otranto, Chief Operating Officer for Vale’s North Atlantic Base Metals operations.
“Active collaboration between our design team, technical services, USW Local 6166, and our entire Thompson workforce has delivered a safe, efficient and fit-for-purpose plan that will enable us to extract the Thompson nickel resources for many years to come.”
The Thompson orebody was first discovered in 1956 by Vale (then known as Inco) following the adoption of new exploration technology and the largest exploration program to-date in the company’s history. Mining of the Thompson orebody began in 1961.
“We see the lighting of a path forward to a sustainable and prosperous future for Vale Base Metals in Manitoba,” said Gary Annett, General Manager of Vale’s Manitoba Operations.