Venture eyes ‘high priority’ tin target at Mount Lindsay as prices soar
With plant commissioning at the Riley iron ore mine now underway, Venture Minerals (ASX:VMS) has turned its attention to the advanced Mount Lindsay project, where drilling has now kicked off.
The advanced Mount Lindsay project already contains one of the largest undeveloped tin deposits in the world, containing in excess of 80,000 tonnes of tin metal.
A recently identified tin target at Mount Lindsay is very promising. The strong EM conductor is supported by tin-in soil anomalism, a historic tin field and a coexisting magnetic anomaly.
It is also sitting in the same rocks that hosts the ‘Renison Bell’ mine — one of the world’s largest and highest-grade tin mines — only 12 kms along strike to the southeast.
Like iron ore, tin and tungsten prices have been on a tear.
Tin is at ~US$32,000/t (near recent record highs) and has increased by ~140% since early 2016.
Tungsten’s APT price is at ~US$270/mtu, up by ~60% since early 2016.
Tin is also now recognised as a fundamental metal to the battery revolution and new technology.
The International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000tpa by 2030.
“With record tin prices it’s a great time to be drilling our recently identified High Priority Tin Target along strike to Renison Bell, one of the world’s largest and highest grade tin mines,” managing director Andrew Radonjic says.
“Tin is a critical EV metal and the discovery of another tin deposit will only add to the highly credential Mount Lindsay Tin-Tungsten project, which already contains one of the largest undeveloped tin deposits in the world.
“Mount Lindsay has the potential to become flagship asset for the company and once developed could supply responsibly sourced tin to the EV revolution.”
This article was developed in collaboration with Venture Minerals, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.