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New assays confirm Mount Lindsay potential
Venture Minerals Ltd has announced results from the re-assaying of historic....
Venture Minerals Ltd has announced results from the re-assaying of historic diamond core drill holes that confirm the iron ore potential for the Mount Lindsay Magnetite-Tin Project in North West Tasmania.The Mount Lindsay project is located 25km south-east of the currently operating Savage River Magnetite Mine, 15km north-west of the soon to be re-opened Renison Bell Tin Mine and is adjacent to existing infrastructure.The historic Tin Zones called the Number 2 Zone and the Main Zone have shown to contain significant iron ore mineralisation as demonstrated by the following new and updated drill intersections:o 54m at 33.5% iron from 271m (No.2 Zone) (Re-assayed drill core-updated result); o 38m at 24.4% iron from 59m (No.2 Zone) (Re-assayed drill core-New result); o 9.7m at 31.4% iron from 106.4m, 4.0m at 20.5% Iron from 116.4m and 35.7m at 22.9% iron from 125.9m (Main Zone) (Re-assayed drill core-New result); o 14m at 37.3% iron from 196m and12m at 23.5% Iron from 225m (Main Zone) (Re-assayed drill core-updated result).In addition to the above results the company has confirmed that the No.2 magnetite zone outcrops at surface following the discovery of a 30m wide magnetite rich zone whilst clearing an access track.A third diamond drill rig from Boart Longyear commenced drilling in December bringing the total number of drill rigs on site to three. The accelerated drill program will enable the company to produce its first iron ore resource estimate as soon as possible.Initially the drill program will be focused on infill drilling the Number 2 Zone and then the Main Zone before moving onto the regional targets such as