Join our daily newsletter At The Bell to receive exclusive market insights
- Venture Minerals (VMS) discovers large, mineralised skarn along strike at Mount Lindsay in Tasmania
- Exploration drilling on the Priority Tin Target delineated along strike from the High Grade Renison Bell Tin Mine intersected 16 metres of potentially tin-bearing sulfide-rich magnetic skarn
- The company says it intends to begin a new downhole electromagnetic program to identify more sulfide-rich targets while it waits for assays
- Venture Minerals is up 8.43 per cent, trading at 9 cents at 1:17 pm AEST
Venture Minerals (VMS) has discovered large, mineralised skarn along strike at Mount Lindsay in Tasmania.
Exploration drilling on the Priority Tin Target delineated along strike from the High Grade Renison Bell Tin Mine intersected potentially tin-bearing sulfide-rich, magnetic skarn within the extension of the Renison Mine Sequence.
The new skarn discovery is within the extension of the Renison Mine Sequence, which is said to host one of the world’s largest and highest grade tin mines.
Managing Director of Venture Minerals, Andrew Radonjic said: “The discovery of a potential new tin-bearing skarn system so close to the company’s flagship tin deposit delivers Venture an excellent opportunity to add to the already significant resource base at Mount Lindsay.”
The diamond drilling program was designed to test electromagnetic (EM) anomalies identified within the Renison Mine Sequence in the Mount Lindsay area, specifically targeting a coincident EM and surface geochemical anomaly.
The hole intersection was made up of 16 metres downhole of sulfide and magnetite-dominated mineralisation within a more than 150 metre thick calcsilicate alternation halo.
The company said it now intended to begin a new downhole EM program to identify more sulfide-rich targets while it waited for pending assays.
Venture Minerals was up 8.43 per cent, trading at 9 cents at 1:17 pm AEST.
