Australian based Venture Minerals Limited has announced that its exploration team has defined three new tin targets in the area surrounding the Mt Lindsay project in Northwest Tasmania.
The new targets were discovered following a recent exploration initiative aimed at discovering new targets close to the main deposit. The prospects were delineated by electromagnetic anomalies recorded 2 km southwest of the Mt Lindsay Deposit over a strike length of 4.5 km. Only one hole drilled during prior exploration intersected the anomalies and this measured 1.1% Sn suggesting potential for more widespread high grade tin mineralisation. The company intends to undertake a follow-up geochemical exploration program for further constraint of the new prospects.
The prospects are also in close proximity to the inferred northern extent of the Federal-Bassett Fault, which provides the key structural control for mineralisation at the nearby Renison Tin Mine. Mt Lindsay has a tin/tungsten deposit with a resource of over 110,000 tonnes of contained metal in addition to copper and iron potentially extractable as by-products. It is hoped that further geophysical exploration, due to take place in the coming months, will find further prospects with which to increase this figure.
