Cornish Metals Inc. reported results from the first six drill holes of the ongoing 9,000 metre Carn Brea drill programme. All six drillholes intersected the Wide Formation lode structure, which is characterised by strong tourmaline alteration and variable tin mineralisation, similar to all historically mined tin-bearing structures in the South Crofty area. Drilling has also identified a new mineralised structure lying directly beneath the Great Flat Lode (named the Great Flat Lode Splay), as well as several high-grade, steeply dipping tin zones between the Great Flat Lode and the Wide Formation. The Wide Formation represents a new high-grade tin target in the Carn Brea South exploration area, located along the southern boundary of the South Crofty underground mine permission area.

A 14-hole /9,000 metre drilling programme commenced in Third Quarter 2023, with the first six holes confirming the Wide Formation lies parallel to, north of, and beneath the Great Flat Lode. The drill programme is designed to test the geometry and the continuity of tin mineralisation within the Wide Formation over an area measuring 2,500m along strike (northeast to southwest) and 525m downdip to the southeast. Drilling to date has intersected the Great Flat Lode and Wide Formation tin mineralisation structures where expected, confirming continuity of the Wide Formation over a 1.6km strike length and 525m downdip.

Two drill rigs are currently on-site, drilling holes CB23_008 and CB23_009 of the programme with future holes planned to continue testing the Wide Formation along strike, and to improve on-target definition. Drilling has also intersected a previously unrecognised splay structure immediately beneath the Great Flat Lode. The Great Flat Lode Splay is mineralised, varies up to 9m in thickness, and represents an important new exploration target less than 280m below surface.

The ongoing drill programme also intersected multiple steeply dipping high-grade tin zones, mainly located between the Great Flat Lode and the Wide Formation. More work is required to determine the orientation and true thickness of these zones. Identifying areas where these structures intersect both the Great Flat Lode and the Wide Formation is of particular interest as these intersection points represent areas of greater fracturing and potential for high grade tin mineralisation.

The geology in the Carn Brea South exploration area is identical to that at South Crofty, comprising metasediments (locally termed ?killas?) which overlie an intrusive granite body. The mineralisation of the Wide Formation consists predominantly of blue tourmaline with disseminated cassiterite, hosted within a siliceous tourmaline altered granite. The cassiterite is mostly hosted within tourmaline-quartz veins which overprint the interpreted earlier blue tourmaline lode structure.

No mining has ever been carried out on the Wide Formation. The Great Flat Lode Splay, discovered up dip of Wheal Bassett mine occurs as a blue tourmaline-rich lode with quartz (occasionally brecciated) hosting disseminated cassiterite mineralisation. The mineralised structure, which appears to separate away from the metasediment/granite boundary of its shallower counterpart, is hosted within strongly altered granite.

This structure forms an unmined splay off the Great Flat Lode, is several meters thick and has an approximate area of 700m by 450m. The Wide Formation, Great Flat Lode Splay, and new zones of steeply dipping high-grade tin mineralisation warrant further exploration. Drilling at Carn Brea South was performed by Priority Drilling Company Ltd. using an Atlas Copco CS14 Diamond Drill Rig.

Hole construction consisted of HQ (96.1-millimeter (?mm?) diameter) to recover 72.8mm diameter drill core from within the shallower Great Flat mineralised zone, before reducing to NQ (76-mm diameter) to recover a 48mm diameter drill core when drilling at depth through the Wide Formation target. On completion, holes were multi-shot surveyed using a Reflex EZ-Trac. Core recovery was greater than 95%.

The core was logged, split via core saw, and sampled by Cornish Metals personnel. The samples, comprising half core, were sent for assay at ALS Minerals, Loughrea, Ireland. Sample preparation involved crushing to 70% less than 2mm, riffle split and pulverised to 85% less than 75 microns.

The analytical method used for tin, copper, tungsten, zinc, and arsenic was X-ray florescence (?XRF?) following a lithium borate fusion. A multi-element 4 Acid Digestion ICP-AES analysis was also carried out to further characterise the mineralisation and alteration assemblages. Overlimit assays on silver were carried out using a 3-acid digest and a HCl leach ICP AES analysis.

Comprehensive Quality Assurance /Quality Control programme using standards, duplicates and blanks was included within the sampling programme.