Cornish Tin & Lithium Ltd posted positive results from phase III exploration drilling, targeting lithium-enriched aplite-pegmatite sheets, in the new extension area of Tregonning South in West Cornwall.
SHEETS
The company said it had previously discovered the same style of mineralisation, named the Newall Formation, at Tregonning North, where lithium grades included 0.3m at 1.33% lithium oxide (Li2O), peaking at 1.42%.
Phase III drilling, which ran from September 2025 to January 2026, showed the North/South continuity of the “new lithium field” across some 3.27km.
The farthest northern intercept is at Tregonning North, while discoveries at Tregonning South include “multiple lithium sheets at different levels extending across a wide area”.
The company added that drilling had also intercepted a “new tin mineralisation system” across Tregonning South, including “ten tin/copper lodes so far and a sheeted vein system”.
“Tregonning South is characterised by approximately NW-SE trending valleys (fault structures),” said Cornish Tin.
“Drilling results confirmed significant lithium results both in aplite pegmatite sheets and buried granite flanks.
“In broad terms, there are very extensive lithium-enriched sheets at varying levels across a wide area of Tregonning South.”
Co-founder and chief executive officer Sally Norcross-Webb added: “Building on the success of our previous drilling programmes at Wheal Vor and Tregonning North, the results of Phase 3 at Tregonning South are also excellent.
“Never before explored systematically, Tregonning South clearly has spectacular potential.
“As a combined mining operation, our project areas in West Cornwall could make a very significant and positive contribution to Cornwall’s economy and the critical minerals resilience of the UK and Europe.”
FUNDRAISES
The company’s fundraise completed 31 March 2026 totalled just over £2.3 million in equity, with no debt.
An aggregate of £7.2m has so far been raised in equity, which comprises some 94.4% private equity and 5.6% retail crowdfunding.
Cornish Tin has qualified for the UK Enterprise Investment Scheme, as a ‘knowledge intensive company, with currently some £36m EIS tax relief still available.
The board comprises Ms Norcross-Webb along with chairman and co-founder Clive Newall.