Latest Discovery Follows Recent Success Targeting Renison Mine Extensions In Tasmania
Venture Minerals Limited (ASX: VMS) has successfully intersected 11m of sulphide rich skarn in recent exploration drilling at the Mount Lindsay in Tasmania.
The drilling was undertaken on the Priority Tin Target delineated along strike from the main tin deposits at Mount Lindsay (one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal).
The current diamond drilling program was designed to test along strike of the Mount Lindsay Skarns (Main and No.2) that host Venture’s tin-tungsten deposits, with ML338 specifically targeting a coincident EM and surface geochemical anomaly, favourably located both along strike and down plunge within highly prospective carbonate units of the host rock sequence (Crimson Creek Formation), from the Ccmpany’s existing tin deposits.
This latest discovery follows the recent success targeting extensions of the Renison Mine Sequence where ML337 intersected 16m of potentially tin bearing sulfide rich, magnetite skarn, located along strike from one of the world’s largest and highest-grade tin mines (Renison Bell).
The two recent discoveries clearly demonstrate the tin exploration potential of the Mount Lindsay Project, which is located within Australia’s premier tin district.
Following the discovery of a potential new Mount Lindsay style mineralisation system, Venture has also committed to a downhole EM survey while the company awaits assay results from ML338.
In 2019, an airborne EM survey was flown over the entire Mount Lindsay Project area with a Versatile Time- domain Electromagnetic (VTEMTM) Max system. The results from the survey delivered 48 VTEM anomalies, twelve of which were classified as priority drill targets, and some were of the Mount Lindsay Tin-Tungsten Style.
These EM conductors were supported at the surface by tin in soil anomalism and interpreted to be within identical and similar host rocks. The VTEM survey delineated Mount Lindsay Style targets on extensions to the Waterhouse, No.2, and Mount Ramsay Skarns and has also highlighted three previously untested Tin- Tungsten Skarns to the east of the Mount Lindsay Deposit.
Managing Director, Andrew Radonjic, said the Mount Lindsay Project is already classified by the Australian Government as a Critical Minerals Project with an advanced Tin-Tungsten asset which is significantly enhanced by the discovery of two new skarn zones, one within the Renison Mine Sequence in the Mount Lindsay area and the other along strike of Mount Lindsay’s main tin deposits.
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 resource containing 3,200,000 MTU (metric tonne unit) of WO3.
“Further success from the first exploration drill program at Mount Lindsay since 2013, clearly demonstrates the potential of the project to deliver another tin discovery,” Mr Radonjic said.
“The first two of 12 priority drill targets from the 48 EM anomalies delineated by the 2019 EM survey have already intersected potential tin-bearing skarns, thereby increasing the potential to significantly grow the current tin resource base.
“Not only does Venture hold a major landholding in a premier tin district, it is also well located in a globally recognised tier one ESG hub, allowing the company the opportunity to develop an ESG compliant Tin-Tungsten mine.”
Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000tpa by 2030 (world tin consumption was 328,400t in 2020).
For further information please visit: https://www.ventureminerals.com.au/