Venture Minerals is an ASX-listed junior mining company, with projects across a range of metals. The company owns the Riley Iron Ore Mine in northwest Tasmania, Australia, which began production in September 2021 but is currently suspended. Other projects include the South West project (nickel-copper-PGE), Golden Grove North (zinc-copper-gold), and Kulin (nickel-copper-PGE & gold), as well as the Mount Lindsay Tin-Tungsten Project.
The Mount Lindsay Tin-Tungsten Project
The Mount Lindsay Project is located in north-western Tasmania and is 100% owned by Venture Minerals. Since beginning exploration in 2007, Venture has completed approximately 90,000m of diamond core drilling. The total resource is known to contain 81,000 tonnes of tin at a grade of above 0.2% plus significant co-product credits of tungsten and by-product credits of magnetite.
In 2012, a Bankable Feasibility Study suggested that Mount Lindsay would produce some 2,600 tonnes of tin-in-concentrate, primarily from an open pit mine. Since then, the company completed a major electromagnetic (EM) survey of the Mount Lindsay area in 2019. Drilling of three priority targets generated by the EM Survey began in 2021 in order to expand the mineral resource. Venture is now aiming to publish an updated Feasibility Study based on a processing flowsheet design for a more cost effective and gravity driven operation and on a fully focused underground mine for the project, by the end of 2022.
Drilling in 2021, intersected two separate lengths of potentially tin bearing sulphide rich, magnetite skarns. One of the intersections is along strike to the No.2 Skarn at Mount Lindsay, whilst the other skarn is located along strike from the Renison Bell Tin Mine.
|Project Name||Mount Lindsay|
|Concentrate Output (t/y)||2,600|
JORC-2004-Compliant Measured Mineral Resource
|Ore (Mt)||8.1||Metal (t)|
JORC-2004-Compliant Indicated Mineral Resource
|Ore (Mt)||17||Metal (t)|
JORC-2004-Compliant Inferred Mineral Resource
|Ore (Mt)||20||Metal (t)|