The current focus for the Company is realizing the full economic potential of the Mt Lindsay Tin-Tungsten Project in North-West Tasmania.
The Mt Lindsay Project is located 15 km northwest and along strike of the world class Renison Bell Tin deposit and immediately south of the Savage River magnetite mine. Venture has already defined one of the worlds largest undeveloped tin projects at Mt Lindsay. The project also contains a substantial tungsten resource base which combined with the tin equates to over 120,000 tonnes of metal. The resource base has already been the subject of a detailed pre-feasibility study, which concluded that a very strong commercial return could be achieved from developing the Mt Lindsay Project.
Venture is currently completing a bankable feasibility study at Mt Lindsay focussing on all aspects of mine development. The study is on schedule, with completion expected in the 1st quarter of 2012. In addition the Company has continued its aggressive approach to exploration with dedicated drill rigs continuing to test multiple targets for the foreseeable future.
The Company has a commanding tenement position in northwest Tasmania and has drill tested less than 10% of its targets and delivered a world class tin/tungsten discovery. With a vast number of targets still to be tested the Company anticipates substantially increasing its resource base and potential mine life over the coming year.
The Maitland Channel project covers 48kms of the Tertiary palaeochannel system, that contains the calcrete-hosted Uranium deposits of Lake Maitland (Mega Uranium Limited), Lake Way (Toro Energy Limited), Centipede (Nova Energy Limited) and Yeelirrie (BHP Billiton). The project includes tenure adjacent to the Lake Maitland uranium deposit.
The Paulsens South project is 4km from the Paulsens Gold Mine, which has commenced production at a rate of 80,000 ozs gold per annum. The project area has only been sparsely explored and is interpreted to host a similar geological setting to the Paulsens deposit.