by Greg Klein | March 17, 2016
Four millennia of mining have yet to exhaust this region’s potential, Strongbow Exploration TSXV:SBW believes. On March 17 the company announced an agreement to acquire Cornwall’s South Crofty tin project, a past-producer dating to the 16th century.
The mine had already begun production by 1592, Wikipedia states, reaching large-scale production in the mid-17th century and continuing operations until 1998. According to another Wikipedia post, its closure marked the end of Cornish mining, which began circa 2150 BC.
Some historians have attributed Rome’s AD 43 invasion of Britain to the empire’s lust for tin.
Declining metal prices during the late 19th century shut down many Cornish operations, coinciding with the Great Migration of 1815 to 1915, when the county lost 250,000 to 500,000 people, according to the Cornish Mining World Heritage Site. The region’s miners, known as Cousin Jacks, brought their skills and technology to at least 175 locations across six continents, the organization adds.
Strongbow’s grasp of history seems a tad confused, though. At one point its press release says Cornwall’s tin mining history lasted over 400 years. Later, the communiqué says mining took place “since at least 2300 BC.” Nevertheless president/CEO Richard Williams said South Crofty “represents one of the best tin opportunities currently available globally.”
Other companies have tried to revive the mine, Strongbow acknowledges. The project comes with a mining permit valid until 2071, “subject to certain planning conditions being met.”
The company plans to evaluate tin mineralization occurring about 400 metres below surface and expects to release a resource estimate within two weeks.
The deal would have Strongbow make a series of payments and share issues to Galena Special Situations Fund, the creditor of the companies holding rights to South Crofty, as well as payments to Tin Shield Production, which would forego its option to acquire the project.
Last July Strongbow picked up two tin projects in Alaska, Sleitat and Coal Creek. Earlier this month the company closed its purchase from Teck Resources TSX:TCK.A and TCK.B of two royalties on the Mactung and Cantung projects formerly of North American Tungsten TSXV:NTC, which is now under creditor protection.