Venture Minerals to Develop Mount Lindsay Tin-tungsten Project
- Category: Tungsten’s News
- Published on Friday, 22 October 2021 22:12
Venture Minerals Limited has initiated an underground feasibility study at its Mount Lindsay Tin-Tungsten Project in Tasmania to further develop tin and tungsten resources.
Tin is an electric vehicle metal listed as an important mineral by many countries around the world. The current transaction price is a record high of US$37,500 per ton, which is four times the price of copper at US$9,500 per ton. The APT price of tungsten is US$310 per metric ton, an increase of about 80% since the beginning of 2016.
Mount Lindsay is one of the largest undeveloped tin projects in the world, containing more than 80,000 tons of tin metal. Globally important tungsten resources containing 3.2 million metric tons of tungsten are located in the same mineralized body.
Andrew Radonjic, Managing Director of Venture Minerals, said: “The Board of Directors looks forward to further advancing the company’s flagship assets in the metal/critical mineral development environment that supports electric vehicles, and is supported by the global market seeking ESG-compliant resources such as Mount Lindsay.”
"High-quality tin deposits are rare, and Venture is fortunate to have defined a project of global significance, providing the company with a solid resource base to support any future development.
" Mount Lindsay Tin-Tungsten Project hosts great potential for resource growth through exploration. The current deposit is part of the main tin mining area, which already has a world-class high-grade tin mine."
Venture Minerals has completed approximately 83,000 meters of diamond core drilling on the project. The project has resources that comply with JORC standards, 70% of which belong to the measured and designated categories.
According to SHH, the previous feasibility study was completed through comprehensive metallurgical testing and later feasibility studies, and provided very high-grade 75% tin concentrate results, which may attract a price premium. The underground feasibility study will advance the previous scoping study, taking advantage of ongoing additional drilling.
The Australian Federal Government has classified the Lindsay Mountain project as a "critical metal project" because of the recent discovery of two new skarn belts, one located within the Lenison sequence in the Mount Lindsay Tin-Tungsten Project area, which further enhances its advanced Tin Tungsten Assets. Others follow the trend of Mount Lindsay's main tin deposit.
Tin is now recognized as the basic metal of the battery revolution and new technologies. The International Tin Association predicts that the lithium-ion battery market will drive a surge in demand, reaching 60,000 tons per year by 2030. The world tin consumption in 2020 is 328,400 tons.
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