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Published: 18th January 2019

TIC based Cornish Lithium secures a further £1 million in funding

Cornish Lithium Ltd is pleased to announce that it has successfully raised a further £1 million from its existing investors. These funds will enable the Company to continue its exploration activities in Cornwall and to drill exploratory boreholes to extract samples of lithium bearing brines from key locations: thus testing the deposit model.

Jeremy Wrathall, CEO of Cornish Lithium, commented:

“We are delighted to have secured additional funding for our exploration activities in Cornwall from our existing investors. All company directors have also participated in this round of funding. Over the last year we have identified key locations where we intend to drill exploratory boreholes with the intention of confirming lithium concentrations within geothermal brines.

“We believe that Cornwall has significant potential as a “lithium province” given the widespread presence of lithium-enriched granites and believe that our large portfolio of mineral rights agreements gives us excellent access to key areas of interest.

“Cornwall also offers great potential to source many of the metals required for batteries that are becoming crucial in modern technologies. Deposits of such metals in Cornwall could become vital sources of key battery metals for the UK economy. The lack of exploration in Cornwall for over 30 years means that one of the most highly mineralised areas in Europe remains effectively untouched by modern exploration techniques. The Company now has a team of eight geologists, two mining engineers and three metallurgists and intends to continue its research and exploration activities in Cornwall during 2019 and beyond.”

For more information on the exciting funding announcement visit