THE BOURSE WHISPERER: Venture Minerals (ASX: VMS) is about to conduct a high-resolution Airborne Electromagnetic (EM) survey over the company’s Mount Lindsay tin-tungsten project in Tasmania.
Venture Minerals has charged UTS Geophysics to use its VTEMTM Max system with the aim of identifying further high-grade tin targets, including those with the potential to host Renison Bell style mineralisation.
Previous exploration at Mount Lindsay has identified potential tin targets located within carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the nearby Renison Mine, one of the world’s largest and highest-grade tin mines.
Venture believes the VTEMTM Max system is an ideal exploration tool for making discoveries for the Renison style of tin mineralisation at Mount Lindsay.
The company outlined the aim of the EM survey being to generate drill targets that may lead to further tin discoveries that could enhance future development of the Mount Lindsay tin-tungsten project.
With this in mind, Venture is advancing a recently commissioned Underground Scoping Study it anticipates optimising the higher-grade portions at Mount Lindsay, that previously reported resources including 4.7 million tonnes at 0.4 per cent tin and 0.3 per cent tungsten.
Venture hopes to leverage on the feasibility work previously completed.
“All the geological factors make the Mount Lindsay’s Renison style targets a compelling proposition for the company to test, and it looks forward to delivering those results in the near future,” Venture Minerals managing director Andrew Radonjic said in the company’s announcement to the Australian Securities Exchange.
“Should a new tin discovery result at this time of high price, it would be of great benefit to the project and the company.”