THE DRILL SERGEANT: Venture Minerals (ASX: VMS) reported on drilling that encountered a new, and rather substantial, mineralised zone at the company’s Mount Lindsay tin-tungsten project in Tasmania.
Venture Minerals explained the drilling a Mount Lindsay was targeting high-grade zones within the existing deposit and while doing so drillhole ML339M intersected 93 metres of mineralisation.
The intersections from ML339M include:
93 metres at 0.5 per cent tin equivalent from 107m, including 12m at 1.7 per cent tin equivalent from 113m; or
54m at 0.6 per cent tin equivalent from 113m, and 30m at 0.5 per cent tin equivalent from 170m, and 22m at 0.6 per cent tin equivalent from 236m.
The drill program, while designed to confirm the continuity of high-grade zones and provide additional metallurgical samples, is part of the company’s updated Feasibility Study for an underground mine.
“The first hole of the new drilling program at Mount Lindsay, for the recently started underground Feasibility Study, has seen the MacDonald Shoot deliver further high-grade tin and tungsten assay results to confirm the continuity of this high-grade zone,” Venture Minerals managing director Andrew Radonjic said in the company’s ASX announcement.
“Additional drilling on the Main Skarn’s high-grade MacDonald Shoot, followed by similar targeted drilling on the No. 2 Skarn’s high-grade Radford Shoot, is expected to return more high-grade results which will increase the confidence in the resource supporting an underground development.
“The MacDonald and Radford Shoots provide a great foundation for the first stage development for the Mount Lindsay tin-tungsten project whilst exploration will look to extend the life of the asset to a multi-decade opportunity, in keeping with other major mines on the West Coast of Tasmania.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE