North West Tasmania
The Mount Lindsay Project (148 km2) is located in north-western Tasmania within the contact metamorphic aureole of the highly perspective Meredith Granite. The project sits between the world class Renison Bell Tin Mine (Metals X Ltd/Yunnan Tin Group >231kt of tin metal produced since 1968) and the Savage River Magnetite Mine (operating for > 45 years, currently producing approximately 2.5 Mtpa of iron pellets). Mt Lindsay has excellent access to existing infrastructure including hydro-power, water, sealed roads, rail and port facilities.
Venture owns 100% of the tenure that hosts both the Mount Lindsay Tin-Tungsten Deposit and all of the surrounding prospects.
Since commencing exploration on the project in 2007, Venture has completed approximately 83,000m of diamond core drilling at Mount Lindsay and defined JORC compliant Measured, Indicated and Inferred Resources.
Mount Lindsay, North West Tasmania
Venture continues to work towards preparing for drilling of the three priority targets generated by the recently completed Major EM Survey over the Mount Lindsay Project, for which in the December 2019 Quarter the Company was successful in securing co-funding for up to $202,000 from the Tasmanian State Government. The EM Survey identified several strong conductors coinciding with previously gathered exploration data to define priority drill targets, which included Renison Bell (‘Renison’) Style High Grade Tin, Mount Lindsay Style Tin-Tungsten and Nickel Sulfide targets.
The Mount Lindsay Project is already classified by the Australian Government as a Critical Minerals Project1 with an advanced Tin-Tungsten asset and this will only be further enhanced by the delineation of several high priority drill targets of the same style of mineralisation through the recently completed major EM Survey. Mount Lindsay is already one of the largest undeveloped tin projects in the world, containing in excess of 80,000 tonnes of tin metal and within the same mineralised body a globally significant tungsten resource containing 3,200,000 MTU (metric tonne unit)2 of WO3.
Tin is now recognised as a fundamental metal to the battery revolution and new technology and the International Tin Association is predicting a surge in demand driven by the lithium-ion battery market of up to 60,000tpa by 2030 (world tin consumption was 363,500t in 2018*).
The Renison Style Target is a strong EM conductor supported at the surface by tin in soil anomalism and an alluvial Tin Field mined over 100 years ago, a coincidental magnetic anomaly, and is sitting within the same carbonate units and potentially the same fault zone (Federal-Basset Fault) that hosts the Renison Bell Tin Mine (one of the world’s largest and highest grade tin mines) only 12 kms along strike to the southeast.
The Mount Lindsay Style Tin-Tungsten Targets are EM conductors supported at the surface by tin in soil anomalism and interpreted to be within identical and similar host rocks. The recently completed Major EM Survey has delineated Mount Lindsay Style targets on extensions to the Waterhouse, No.2 and Mount Ramsay Skarns and has also highlighted three previously untested Tin-Tungsten Skarns to the east of the Mount Lindsay Deposit.
The Nickel Sulfide Target is a very strong EM conductor supported at the surface by nickel in soil anomalism and interpreted on the Wilson River Ultramafics .