Venture Minerals (ASX:VMS) has appointed highly experienced Mining Engineer Glenn Van Vlemen to lead the Mount Lindsay underground Feasibility Study in Tasmania.
The Feasibility Study is well underway with the recent completion of the Metallurgical Drilling Programme, the critical long lead item of the Study.
Meanwhile, new drilling at the Mount Lindsay Tin-Tungsten Project continues to deliver outstanding intersections of high grade mineralisation whilst targeting high grade zones within the existing Main Skarn deposit including 158.5 metres (m) @ 0.8% Tin (Sn) and 0.1% Tungsten (WO3) from 78 m in ML344M and likewise within the No.2 Skarn deposit with 99 m @ 0.3% WO3 from 63 m in ML347M.
The intersection in ML344M included a high grade zone of 39 m @ 2.6% Sn and 0.04% WO3 from 165 m or 12 m @ 7.0% Sn and 0.1% WO3 from 192 m, whilst the intersection in ML347M included a high grade zone of 21 m @ 1.2% WO3 from 87 m.
The significant intersections from ML344M in the Main Skarn include the following:
• 158.5 m @ 0.8% Sn and 0.1% WO3 or 1.0% Sn Eq from 78 m including 123 m @ 1.1% Sn and 0.1% WO3 or 1.2% Sn Eq* from 81 m, or 39 m @ 2.6% Sn and 0.04% WO3 or 2.7% Sn Eq* from 165 m, or 12 m @ 7.0% Sn and 0.1% WO3 or 7.0% Sn Eq from 192 m.
The significant intersections from ML347M in the No.2 Skarn include the following:
• 99 m @ 0.3% WO3 or 0.7% Sn Eq from 63 m including 21 m @ 1.2% WO3 or 1.6% Sn Eq from 87 m.
“Venture is fortunate to have engaged a very experienced underground mining engineer who has worked in Tin and is therefore well suited to run the updated Mount Lindsay Feasibility Study,” Managing Director Andrew Radonjic, said.
“Glenn’s appointment has coincided with the completion of the metallurgical drill programme, a significant milestone for the company as it moves through the Study.
“The Feasibility drilling at Mount Lindsay continues to deliver excellent tin and now tungsten intersections within the high-grade shoots of the Main Skarn and No.2 Skarn.
“Mount Lindsay clearly demonstrates the potential to be a vital source of EV metal and Critical Minerals for the world and can be developed in a net zero emissions environment, and is therefore an important part of the decarbonisation of the global economy.
“The Metallurgical Drill Programme is now completed, and Venture looks forward to ramping up our exploration efforts with drilling scheduled to test multiple high priority targets over the coming months within Australia’s premier tin district in the Northwest of Tasmania.”
Mount Lindsay is already one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and, within the same mineralised body, a globally significant tungsten (Critical Mineral in Australia) resource containing 3,200,000 MTU (metric tonne unit) of WO3. Over 100,000m of diamond core drilling has been completed on the project predominately by Venture, which hosts a JORC compliant resource, 70% of which is in the Measured & Indicated categories
Tin is an EV Metal. It is listed as a Critical Mineral (as is Tungsten) by numerous countries around the world and is currently trading at ~US$42,500/t which is over four times the price of Copper at ~US$10,000/t. There is currently about two days’ global supply of tin held in stockpiles by the London Metal Exchange (LME).
For further information please visit: https://www.ventureminerals.com.au/
