VENTURE MINERALS LIMITED - ASX: VMS

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Description

Venture Minerals Ltd is striving to discover and develop world class mineral deposits. The Company's current focus is on realising the full economic potential of the Mt Lindsay tin/tungsten Project in northwest Tasmania. Venture has already defined a significant resource base in both tin & tungsten and continues to grow that resource base through agressive exploration.

The Mt Lindsay Project is located 15 km northwest and along strike of the world class Renison Bell Tin deposit and immediately south of the Savage River magnetite mine. Venture has already defined a substantial tin/tungsten resource base which recently grew by another 67% in 2010 and now contains over 100,000 tonnes of metal. The resouce base has already been the subject of a detailed scoping study, which concluded that a very strong commercial return could be acheived from developing the Mt Lindsay Project.

Venture is currently completing pre-feasibility at Mt Lindsay focussing on all aspects of mine development. The study is on schedule, with completion expected in the 4th quarter of 2010. In addition the Company has continued its aggressive approach to exploration with dedicated drill rigs continuing to test multiple targets for the foreseeable future.

The Company has a commanding tenement position in northwest Tasmania and has drill tested less than 10% of its targets and delivered a world class tin/tungsten discovery. With a vast number of targets still to be tested the Company anticipates substantially increasing its resource base and potential mine life over the coming year.

The Maitland Channel Project covers 48kms of the Tertiary palaeochannel system, that contains the calcrete-hosted Uranium deposits of Lake Maitland (Mega Uranium Limited), Lake Way (Toro Energy Limited), Centipede (Nova Energy Limited) and Yeelirrie (BHPBilliton). The project includes tenure adjacent to the Lake Maitland uranium deposit.

The Paulsens South Project is 4km from the Paulsens Gold Mine, which has commenced production at a rate of 80,000 ozs gold per annum. The project area has only been sparsely explored and is interpreted to host a similar geological setting to the Paulsens deposit.

Mine For

tin, tungsten, uranium, gold

Location of operation(s)

Tasmania

Address

Freemasons Hall, 181 Roberts Road
SUBIACO, WA, AUSTRALIA

Phone

08 9381 4222

Email

Website

http://www.ventureminerals.com.au/

Last Updated

11/5/2011