Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Celeste Copper Further Advances South Crofty Mine In Cornwall

Celeste Copper Corp. (CVE:C) said Monday that it has gained additional property assets to facilitate the construction of the future surface infrastructure at its South Crofty polymetallic mine in Cornwall, England.

The company, which is Calgary-based, said it has completed contracts with the Cornwall Council.

Celeste Copper said the South Crofty operation now has a viable surface site, fully consented for the development of a 21st century mine surface infrastructure in the historic mine district of England.

"This is yet another exciting achievement underpinning the project's progression toward a production decision," chairman Farhad Abasov said in a release.

"With the recent permitting accomplishments and the advancement of the ongoing exploration program, Celeste is achieving its exploration and development milestones in this project."

Earlier this year, Cornwall Council - the project's local mineral planning authority - granted new conditional planning consents for developing new surface mine infrastructure and for the extension of the mine's underground working area to 1,460 hectares from 510 hectares.

Last year, Celeste signed an earn-in agreement to buy a 60 percent equity stake - with the option to up its interest to 100 percent - in Cornish Minerals Ltd, which owns 150 square kilometres of tin and copper mineral rights throughout the Cornish metallogenic province in Cornwall, England, including the South Crofty Mine.

Tin is a silvery malleable metallic element that resists corrosion; it is used in many alloys and to coat other metals to prevent corrosion.

Proceeds from the company's initial financing are being used to fund a 20,000 metre drill program as well as a preliminary economic assessment on the Cornish Minerals district, resulting in an earn-in of up to a 25 percent equity interest in Cornish Minerals Ltd.

Celeste Copper is focused on developing the historical tin project in Cornwall. The company also has copper, gold and silver properties located in Chile's Cabeza de Vaca mineral district, where it is undertaking an exploration program.

Shares of the company jumped 6.25 percent to 8.5 cents on Toronto's junior venture exchange.