First Drill hole at Contact Creek Intersects
Mt Lindsay Style Mineralization
Australian mineral exploration company, Venture Minerals Limited (ASX code: VMS), announces that the first drill hole testing skarn targets on the northern side of the Meredith Granite has intersected Mt Lindsay style mineralization. The latest discovery is part of an extensive regional program which has identified a number of new targets throughout the broader Mt Lindsay Project.
- First drill hole (PX001*) intersects over 25m of Mt Lindsay style mineralization containing zones of magnetite and visible tungsten (scheelite)
- Mineralization within PX001 also contains fluorite and danalite, two minerals typically associated with tin mineralization within the Main Skarn at Mt Lindsay.
- Regional exploration has also identified up to 7.2% WO3 in stream sediments northwest of Mt Lindsay.
- These latest discoveries significantly elevates the potential of all regional targets within the broader Mt Lindsay Project where over 37 strike kilometres of targets have already been identified (ref map)
- Exploration and feasibility drilling continues with 6 drill rigs on site as Venture continues to rapidly advance one of the world’s largest undeveloped tin projects
- Strong price growth continues in both tin and tungsten:
Tin - +US$33,000 per tonne
Tungsten - +US$40,000 per tonne
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