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The discovery took place near Redruth, Cornwall.The company Cornish Metals said they struck silver while testing its United Downs prospect. Along with silver, high grades of tin and copper were also found.Cornish Metals is one of many companies that are eyeing up a potential return to Cornwall with demand for copper, tin and lithium continuously increasing.
These materials are used for renewable energy and electric car applications.
Chief executive Richard Williams said: “We are pleased with the initial results and observations from our drilling at United Downs, and pleasantly surprised with the silver content recorded.
“The high-grade nature of the tin and copper mineralisation is similar to what was mined here between 1700 and 1870.”
However, Cornish Metals will have a lot of competition for resources.
Another two companies, Cornish Lithium and British Lithium, are fighting for lithium.
Cornish Lithium wishes to use geothermal waters and granite to produce the material, while British Lithium wants to use granite only.
A third company, Geothermal Engineering, would like to build four geothermal heat and power plants in the area.
They claim that their testing plant in United Downs could be a part of the national grid as early as next year.
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Mining companies then started to look elsewhere.
When it comes to the United Downs project, further testing will be needed.
Mr Williams said: “The United Downs project has numerous additional targets that we will be testing throughout the course of this year.”
Mr Williams’ company shares have almost doubled since they started the project.
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