Venture Minerals hauls in ‘record breaking’ 147m-long tin intercept at Mount Lindsay
Link copied to
At current tin metal prices, there’s nothing average about the near 150m intersection’s average recovered value (AVR) of $680 per tonne It’s turning Venture’s flagship Mount Lindsay project into “a very attractive proposition for underground mining”.
Mount Lindsay is already one of the largest undeveloped tin projects in the world, containing well over 80,000 tonnes of tin metal and, within the same mineralised body, a globally significant 3.2M mtu tungsten resource.
As tin prices soar to near record highs Venture (ASX:VMS) has launched an Underground Feasibility Study on Mount Lindsay that will leverage off a previous study’s work.
The drill program, designed to confirm the continuity of high-grade zones and provide additional metallurgical samples, is part of these studies.
VMS is currently targeting high-grade zones within the existing deposit which continues to return substantial intersections of high-grade mineralisation, including 147 metres @ 1.0% Tin (Sn) and 0.2% Tungsten (WO3) from 90m.
This hit includes a high-grade zone of 45m @ 2.5% tin and 0.3% tungsten from 93m, or 9m @ 5.9% tin and 0.3% tungsten from 183m.
Mineralisation is still ‘open’ down the hole, with the company awaiting further assay results.
VMS will drill additional holes on the Main Skarn’s high grade ‘MacDonald’ Shoot, which will be followed by similar targeted drilling on the No. 2 Skarn’s high grade ‘Radford’ shoot.
Current drilling will also provide material for finalising a cost effective, gravity-focused, processing flowsheet to concentrate the high-density minerals cassiterite (tin oxide – 79% Sn) and scheelite (81% WO3).
Additional work will include further detailed engineering studies to firm up the mine design and updating of the permit to reflect the change in mining and processing strategies.
The company is in the process of building a dedicated team to manage the Study program and will update shareholders as carefully selected individuals with strong backgrounds in the development of base metals assets in Australia with a focus on Tin and/or Tungsten, join the group.
“This new drilling at Mount Lindsay, focused on the high-grade zones, is starting to unveil the exceptional value that Mount Lindsay truly holds,” managing director Andrew Radonjic says.
“At current metal prices, this 147-metre drill intersection has an average recovered value of A$680 per tonne, taking into account metallurgical recovery test work from our previous feasibility study.
“This high value per tonne makes Mount Lindsay a very attractive proposition for underground mining.”
Tin is now recognised as fundamental to the battery revolution and the new tech world.
The International Tin Association (ITA) is bracing for 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).
Mount Lindsay is already classified by the Australian Government as a Critical Minerals Project, VMS says.
The Australian Government is supporting the Critical Minerals Sector through several initiatives, including the establishment of a $2 billion finance facility announced in September to be administered by Export Finance Australia “which Venture is working to access for the project”.
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.