While that would be the simplest operationally it would then involve Gunnislake users crossing from one platform to the other which would a) probably cost a lot (£m) to cater for modern regs around persons with impaired mobility, and b) add time & hassle to the already tortuously slow Gunnislake <-> Plymouth service.
A simpler solution might be to implement a split at Bere Alston with or without signalling protection of the junction (although this then introduces a further traincrew productivity cost). Whether GWR could find the additional fleet to cater for the increased traffic would also have to be addressed.
If going to rebuild to Tavistock with all the land acquisition etc, then probably best to move Bere Alston station few hundred metres south, and build a spur direct to Gunnislake across the field. Much easier to have it split into two branches facing Plymouth than a line with reversals.
If you can build it as a V shaped platform between the two lines, with the access from top of V then avoid any need for expensive footbridges and lifts. Gives easy level interchange for passengers. Could even use current Gunnislake trackbed as part of an approach road.
As for signalling, would then just need signals protecting the new south junction where lines meet beyond the V, one signalling section going south, and from each platform, effectively one train on each branch. So each branch could then operate as a shuttle if required, although in practice likely to have trains alternating from Plymouth.