About Us


Cornish Metals (TSX-V:CUSN, AIM:CUSN) is an Associate Company of Osisko; Barkerville Gold Mines, a wholly owned subsidiary of Osisko Development Corp. (TSX-V:ODV), is the Company’s largest shareholder, holding 19.98% of the issued share capital.

Cornish Metals is a Canadian mineral exploration and development company focused on its mineral projects in Cornwall, United Kingdom with its flagship projects being the United Downs copper-tin project and the South Crofty tin project. In addition, the Company holds 15,000 ha in exploration licences across the county. It also maintains an interest in the Nickel King project, an exploration property which is prospective for nickel in the Northwest Territories in Canada and the Sleitat project, an exploration property which is prospective for tin and tungsten in Alaska. In addition, the Group holds a royalty on two non-producing tungsten assets located in the Northwest Territories and the Yukon, Canada. 

Its focus is the United Downs copper-tin project, where a near surface high-grade tin-copper mineralisation discovery was made in 2020. The South Crofty tin project, which is located 8 kms to the west of United Downs, is a strategic asset for the long-term 

United Downs

The United Downs project area is located within the boundaries of, or adjacent to, four former copper, tin and zinc producing mines. Over the next three years, Cornish Metals plans to conduct a phased exploration programme at United Downs to delineate further the known mineralised structures, conduct in-fill drilling, and subject to exploration success, estimate Mineral Resources, and produce the required technical studies to demonstrate the feasibility of conducting mining operations in the area.

The first phase of the exploration programme will be to delineate the extent of the mineralised structures and, subject to results, deliver an initial Mineral Resource Estimate and a preliminary economic assessment / scoping study.

If the first phase proves successful, infill drilling will be conducted to produce a Measured and Indicated Mineral Resource Estimate and a feasibility study, utilizing a process plant that is permitted for construction at the South Crofty minesite located 8km west of United Downs.

South Crofty

South Crofty is a strategic tin asset. The Company benefits from South Crofty’s existing mine infrastructure preserved for future mining activities, including four shafts and 1.1km of decline. South Crofty has an active mine permit valid to 2071, planning permission to construct a new processing plant and an environmental permit to dewater the mine.

Lithium

Cornish Metals has exposure to Cornwall’s lithium and geothermal potential through its agreement with Cornish Lithium whereby Cornish Lithium has the right to explore for lithium in brines and associated geothermal energy on all mineral rights owned by Cornish Metals. Cornish Metals has a 25% free carried interest on the first project to have bankable feasibility study completed and a 10% free carried interest on any subsequent projects.

In addition, the Company has a 2% gross revenue royalty from any production of metals from brines and from any geothermal energy produced and sold to the national grid or other system.

Favourable copper, tin and lithium market conditions

Copper, tin and lithium are fundamental to growth in the technology sector and the transition to a low carbon economy and are used in key fast growing technological applications including batteries, robotics, solar power, 5G and cloud storage.

Independent market analysts are predicting a growing deficit of supply for the copper market from 2025, for the lithium market from 2025 to 2027 and from the tin market over the next four to five years. Tin and lithium are the metals most impacted by new technology. Copper supply is also projected to fall behind demand as the shift to electric vehicles, roll-out of 5G networks and growth in the internet of things continues.

Expansion of existing copper mines accounts for the majority of new copper production scheduled to come online by 2024, after which new projects will be required to bridge the growing gap expected by analysts. Tin production from two of the major producing regions of the world, China and Peru, has been in decline since 2015 for a variety of reasons.

There is no primary tin production in Europe or North America and security of a supply is a key issue with tin being listed as a critical mineral by the US government. Compounding the problem is the lack of investment into exploration, discovery and development of new tin deposits as well as increasing scrutiny over supply chains and requirements for “clean tin” i.e. low environmental impact, non-exploitation of child labour and not funding conflict. Cornish Metals is in a position to potentially deliver copper and tin to meet some of the UK’s domestic needs.

Both copper and tin have shown positive price increases through 2020 as investors anticipate strong investment into infrastructure as global economies recover from the COVID-19 pandemic. This price strength is projected to continue – for example, copper recently reached a 7-year high and is projected to have a supply deficit of 327,000 tonnes in 2022.

In addition to United Downs and South Crofty, Cornish Metals owns interests in exploration properties prospective for tin (in Alaska) and nickel (in Northwest Territories, Canada). And, through its strategic alliance with Osisko, the company acquired royalties in the Cantung (1%) and Mactung (4%) tungsten properties located in Yukon and Northwest Territories.

Cornish Metals' management and board include award-winning mining industry leaders: Patrick Anderson (Chairman) and D. Grenville Thomas

Unless otherwise indicated, technical information related to Cornish Metals' exploration properties reported on this website has been reviewed and approved by Owen Mihalop, Cornish Metals’ Qualified Person as as designated by NI 43-101. 

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