New Drilling at Venture Minerals' Lindsay Tin-Tungsten Project in Tasmania

Venture Minerals has ended the year with a bang after discovering a large 147 meter drill section at 1% tin and 0.2% tungsten in new drilling at its Mount Lindsay tin-tungsten project in Tasmania. The latest stellar results sent the company's share price soaring more than 27% in intraday trading.

The 147 meter section also includes 114 meters grading 1.2% tin and 0.2% tungsten from 93 meters. Other notable results include a 99 meter hit grading 1.4% tin and 0.2% tungsten or 1.6% tin equivalent from 93 meters.

Venture said the hole remains open, leaving the door open for potentially more high-grade tin ore. The new hole penetrates the company's main tin-magnetite horizon at Mount Lindsay, and the campaign will continue to search for high-grade zones at the high-grade Macdonald property in the area. Venture Minerals will conduct a similar campaign at nearby silica, where it will explore its high-grade Radford shot hole.

According to the company, its recent work is aimed at confirming the continuity of the high-grade zones and providing metallurgical samples for an updated feasibility study of the underground mine.

New drilling at Mount Lindsay, focused on high-grade areas, is beginning to reveal the exceptional value that Mount Lindsay truly holds. At current metal prices, and taking into account the metallurgical recovery test work from our previous feasibility study, this 147 metre drill section has an average recovery value of A$680 per tonne. Such a high value per tonne makes Mount Lindsay a very attractive proposal for underground mining.

The current tin price underscores the importance of Venture's huge drill strike, which has been rising recently and now hovers at an all-time high of $39,000 per ton, as it has been used as a key component in the production of lithium-ion batteries.

Copper is currently trading at just over $9,300 per tonne. Venture's Mount Lindsay project, located on approximately 148 square kilometers of land in northwestern Tasmania, is considered one of the world's largest undeveloped tin projects. Recent estimates for the Lindsay Tin-Tungsten Project indicate that it contains approximately 81,000 tonnes of tin and tungsten resources with approximately 3.2 million metric tons of tungsten trioxide units.

The Venture Minerals' Mount Lindsay project is also located nearby, just 30 kilometers from the highly respected Renison Bell tin mine. Renison is widely regarded as one of the largest and highest grade tin mines in the world, having produced over 230,000 tonnes of metal to date. The most recent resource estimate for Renison is 18.55 million tonnes grading 1.57% tin and 291,600 tonnes of contained metal. In a bullish tin market, the price of this sought-after metal has hit a near-record high of about $39,000 per ton.

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