- Venture Minerals (VMS) begins work on a feasibility study for an underground mine at the Mount Lindsay Deposit in Tasmania
- The study will advance previous scoping study work and further drilling is being undertaken to confirm the continuity of the high-grade MacDonald and Radford shoots
- These shoots have been subject to historical drilling with previous work intersecting up to 17 per cent zinc and 1.7 per cent tungsten trioxide
- Venture will then undertake further detailed engineering studies to solidify the mine design and update the permit to reflect the change in mining
- Shares in Venture were up 2.08 per cent on the market and were trading at 4.9 cents at 11:55 am AEDT
Venture Minerals (VMS) has begun work on a feasibility study for an underground mine at the Mount Lindsay Deposit.
Mount Lindsay lies in northwestern Tasmania in the highly prospective Meredith Granite and with more than 80,000 tonnes of tin metal, is one of the world’s largest tin deposits.
The feasibility study will advance previous scoping study work and further drilling is being undertaken to confirm the continuity of the high-grade MacDonald and Radford shoots.
These high-grade shoots have been subject to historical drilling with results including 26 metres at 2.7 per cent zinc from 202 metres including two metres at 17 per cent zinc from 210 metres and 12 metres at 1.7 per cent tungsten trioxide from 105 metres.
This drilling will also provide material for finalising a gravity-focused, processing flowsheet to concentrate the high-density cassiterite and scheelite.
Venture will then undertake further detailed engineering studies to solidify the mine design and update the permit to reflect the change in mining.
Managing Director Andrew Radonjic commented on the commencement of the study.
“Quality tin deposits are rare, and Venture is fortunate to have already defined a globally significant project, giving the company a substantial resource base to underpin any future development,” Mr Radonjic said.
“Mount Lindsay has excellent potential for resource growth through exploration, with the current deposits part of a major tin field that already hosts the world-class, high-grade Renison Tin Mine.”
Shares in Venture were up 2.08 per cent on the market and were trading at 4.9 cents at 11:55 am AEDT.