Venari Minerals (ASX:ASE) has mobilised its reverse circulation drill rig at the Red Mountain Lithium Project in Nevada for further drilling across its portfolio after finishing up 1,073m of drilling at the nearby Needles Gold Project.
As a part of the Red Mountain campaign, the company has planned to cover a 2,990m area for 13 drill holes, with potential for three further drillholes to be covered.
Drilling at Red Mountain intends to target high-grade mineralisation located towards the northern section of the tenement package, as well as multiple lenses in the central project area to establish mineralisation to a depth of 200m.
Additionally, Venari expects to return results from the previous drilling campaign at Needles later this month after being assayed at the ALS Laboratory in Elko.
The company conducted drilling across eight holes at the Needles Project to target vein-style gold-silver mineralisation across the Arrowhead, Arrowhead East, Tomahawk, Eastern Shaft, and Whopper Junior prospects.
Venari will collate the results returned across the two campaigns to drive a maiden resource estimate by the end of this year.
The news comes not long after the company retained $4.11 million through a private placement to cover exploration funds ahead of the resource estimate.
Venari Minerals, formerly known as Astute Metals, is a mineral explorer focused on discovering critical and precious metals such as lithium, gold, and silver, across its portfolio of projects in Nevada, US.
Write to Maddison Elliott at Mining.com.au
Images: Venari Minerals
