Venture Minerals has drill spinning on priority tin target at Mount Lindsay Project in Tasmania

Venture Minerals Limited (ASX:VMS) (OTCMKTS:VTMLF) has commenced drilling at Mount Lindsay on the high priority tin target delineated along strike to the high-grade Renison Bell Tin Mine, one of the world’s largest and highest grade tin mines.  The target is supported by a significant historic alluvial tin field and coincidental electromagnetic (EM) magnetic and geochemical anomalies.  Around 83,000 metres of diamond core drilling has been completed on the project to date and the company plans to follow up several other high-grade targets, including Big Wilson with 17.4 metres at 2% tin and Webbs Creek with 8.5 metres at 0.4% tin and 0.2% tungsten.  “Mount Lindsay could become flagship asset” The decision to commence drilling follows near-record recent tin prices of around US$32,000/tonnes (an increase of around 140% since early 2016), with tin now trading more than three times the price of copper (currently at around US$10,000/tonne). Venture Minerals managing director Andrew Radonjic said: “With record tin prices it’s a great time to be drilling our recently identified high priority tin target along strike to Renison Bell, one of the world’s largest and highest grade tin mines. “Tin is a critical EV metal and the discovery of another tin deposit will only add to the highly credential Mount Lindsay Tin-Tungsten Project, which already contains one of the largest undeveloped tin deposits in the world. “Mount Lindsay has the potential to become flagship asset for the company and once developed could supply responsibly sourced tin to the EV revolution.” Notably, tungsten’s APT price is at around US$270/metric tonne unit, an increase of about 60% since early 2016. Mount Lindsay Project: Stanley-Lindsay area VTEM conductivity channel 49 on geology with priority drill targets. Critical minerals project The company’s advanced and globally significant Mount Lindsay Tin-Tungsten Project provides near-term exposure to EV metal and critical minerals markets. The project is already classified by the Australian Government as a Critical Minerals Project with an advanced tin-tungsten asset and has been 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) of WO3. Metals most impacted by new technology Demand expected to grow 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 60,000 tonnes per annum by 2030 (world tin consumption was 328,400 tonnes in 20203 ). A feasibility study has been completed with metallurgical test-work and post-feasibility delivering a very high grade 75% tin concentrate result and the company is confident this will attract price premiums.