Venari Minerals (ASX:VMS) is working towards a maiden mineral resource estimate (MRE) for the wholly owned Red Mountain Lithium Project in Nevada, following the return of final drill assays from the October 2025 reverse circulation drilling campaign.
The drilling campaign covered 13 holes. The latest assays are from holes in the northern project area. These delivered similar mineralisation to previous holes drilled in this part of the deposit, with two of the three holes intersecting lithium mineralisation grades exceeding 2,000 parts per million (ppm).
Drill highlights include 10.6m of lithium mineralisation, including 6.1m @ 2,130ppm lithium from 32m, including 3m @ 3,550ppm lithium from 33.5m; 9.1m lithium mineralisation, including 3m @ 2,770ppm lithium from 33.5m; and 9.1m lithium mineralisation, including 4.6m @ 1,320ppm lithium from 22.9m.
Chairman Tony Leibowitz says that the company is now on path toward a maiden MRE now that all data has been received.
“We are now in an outstanding position to deliver this significant milestone at a time when the lithium sector is rebounding strongly,” Leibowitz says.
“Lithium prices have more than doubled in the past five months, and there are widespread expectations of a market deficit this calendar year. As prices return to incentive levels, we are in a unique and enviable position of having ownership of one of the largest new lithium projects in North America at a time of enormous strategic interest in new, large-scale critical minerals assets.”
The assay results are the final step towards reporting a maiden MRE within the next three weeks for the Red Mountain Lithium Project.
Venari Minerals is developing critical minerals and precious metals assets in Nevada, focusing on lithium, gold, and silver, with the Red Mountain Lithium Discovery on track towards a maiden MRE.
The company is attending the RIU Explorers Conference in Fremantle, Western Australia, held from 17-19 February 2026.
Mining.com.au is a media partner for the conference.
Write to Amy Rotman at Mining.com.au
Images: Venari Minerals
