(MENAFN- ProactiveInvestors)
() has defined an additional target within the Mt Lindsay area in Tasmania.
The latest discovery follows the identification of a series of new electromagnetic targets announced last month.
The most recently defined target is 2 kilometres from the Mt Lindsay Deposit defined by a coincident electromagnetic and geochemical anomaly and is situated within a granted mining lease.
It is also favourably located within a fold in the northern extension of the Renison Mine Sequence host to the world class Renison Tin Mine located only 15 kilometres to the south of Mt Lindsay.
Recent work over the area included a reinterpretation of electromagnetic data field mapping and a first pass soil sampling program.
Results from the soil sampling identified a coherent geochemical anomaly containing elevated values in several elements including lead and boron which within the Mt Lindsay area is often coincident with tin mineralization.
Additionally the geochemical anomaly coincides with an electromagnetic high and is situated within the Renison Mine Sequence.
The latest discovery is part of exploration program designed to define additional tin and tungsten targets that have the potential to deliver high grade mineralization into Venture's already substantial tin-tungsten resource base of 13mt at 0.7% tin equivalent.
The exploration program specifically targeted prospective areas within easy trucking distance to the Mt Lindsay Deposit.
Additional work programs are planned for the coming months with a number of new areas being targeted.
Venture is also earning up to 90% of the Harris Bluff Project in the Gawler Craton South Australia.
Harris Bluff is within an area considered prospective for lead-zinc and epithermal gold-silver mineralisation.
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