Cornish Lithium has successfully raised a further £1 million from its existing investors to continue funding its exploration activities in Cornwall.
CEO Jeremy Wrathall said: “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.”