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Additional Information
Market: ASX
Sector: General Mining
Epic: ASX:VMS
News: Latest news
Web Site: Venture Minerals
Other Articles: 19-01-201009-12-200901-12-2009

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Venture Minerals

Venture Minerals

Venture Minerals was listed on the ASX on 25 September 2006 after successfully raising $5 million.  The primary objective for Venture Minerals is to discover and develop world class energy and/or mineral deposits. The current focus for the company is realising the full economic potential of the Mount Lindsay Magnetitie-Tin Project in Tasmania.

Tuesday, December 01, 2009

Venture Minerals reveals latest regional exploration results from Mt Lindsay Project

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Australian mineral exploration company Venture Minerals (ASX: VMS) has unveiled the latest regional exploration results from the company’s flagship Mt Lindsay Project in northwest Tasmania.

Geological mapping, rock chip sampling and channel sampling, have confirmed that the Rocky River South Prospect has the potential to host significant DSO grade, iron mineralization.

Following the announcement, shares in Venture were trading 1.5c higher to 33c.

The first channel sample returns include 14m @ 66% Fe, while the average rock chip sample grade equates to 66% Fe.

Rocky River South is located only 9km west of the Stanley River DSO Project and only 5km north of a sealed road which accesses existing rail and port facilities.

The rock samples were taken by cutting a continuous channel into the rock face using a portable rock saw.

The high grade channel sample, geological mapping and rock chip sampling have confirmed the presence of massive magnetite / hematite rich iron stone, which outcrops at surface and is interpreted to be the southern extension of the Savage River mine sequence.

Venture controls over 10 strike kilometres of the iron rich sequence, via a joint venture with Bass Metals.

The consistent high grade nature of the iron rich zone as well as the low level of impurities and its location makes Rocky River South a very attractive DSO prospect.

Venture has already selected several areas for drill testing over the coming months.

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