15th Nov 2016 14:43
LONDON (Alliance News) - Strategic Minerals PLC on Tuesday said the name of its joint venture for the Redmoor tin-tungsten project has been changed and tenders have been issued for a drilling programme at the project.
Strategic Minerals said NAE Resources Ltd, the joint venture with New Age Exploration Ltd which holds the Redmoor project, will change its name to Cornwall Resources Ltd.
"The change of the joint venture name reflects both the equal involvement of the joint venture partners and the relationship of the project with its geographical roots," Strategic Minerals said.
In addition, the company said Cornwall Resources has issued tenders for a two-phase, 23-hole drilling programme to start at the Redmoor tenements in the first half of 2017.
Strategic Minerals shares were down 1.8% to 0.45 pence on Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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