Tasmania delivers promising drill results for Venture Minerals
VENTURE Minerals have uncovered a promising tin and tungsten source in Tasmania's diverse and rich mineral fields
Results from Venture's Mt Lindsay tenement represented the best drill result to date – including an impressive 14 per cent tin intersection – and supports the existence of multiple high-grade shoots.
The latest results on the Macdonald Shoot target at Mt Lindsay, at a depth of 165m, include 18m at 2.2 per cent tin and 0.23 per cent tungsten; and 2m at 14 per cent tin and 0.26 per cent tungsten.
Previous drilling results have been as high as 1.8 per cent tin and 0.26 per cent tungsten.
It is encouraging for Venture who says the results confirm the geometry and consistency of its project and represent a "very high value intersection''.
Venture says tin is trading at $US14,425 a tonne, equating to 2.5 times the price of copper.
"Approximately 90 per cent of the intersections identified to date within the Macdonald Shoot are less than 170m from the surface and are therefore considered amenable to open pit potential as an underground target,'' the company reported.
"The Macdonald Shoot remains open at depth. Drilling is ongoing at Mt Lindsay with two diamond rigs targeting high-grade tin-tungsten shoots within the main zone and Number 2 Zone.''
Venture says a total of 10,000m of diamond core drilling will be completed over the next few months.
Venture's property is in the north-west of Tasmania, close to the Renison Bell Tin Mine.
COLLETED BY KAREN FROM www.chinatungsten.com
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