Venari Minerals (ASX:VMS) has intersected a combined 109.7m of lithium mineralisation, marking the company’s ‘highest grade’ received to date from October drilling at the Red Mountain Project in Nevada.
Hole RMRC013 returned an estimated true width of 87.8m for the mineralisation, featuring 77.7m @ 2,440 parts per million (ppm) lithium from 76.2m, including 24.4m @ 4,270ppm lithium from 97.5m and 7.6m @ 3,080ppm lithium from 132.6m.
Results are part of a 13-hole reverse circulation campaign, extending the drill-defined extent of mineralisation to a depth of 150m. The company is still awaiting assays from three holes.
Chairman Tony Leibowitz says hole RMRC013 returned “exceptional” results, illustrating the scale and quality of Red Mountain.
“Importantly, this hole has strengthened and expanded the strategically important high-grade core in the northern area of the deposit,” Leibowitz says.
“The October drilling campaign has been very successful, and we are looking forward to seeing the results of the final three holes, which are expected in the coming fortnight.
“As a result of the delays experienced with assay laboratories in North America, the maiden mineral resource estimate for Red Mountain will now be delivered in Q1 2026.”
Prior to drilling in October, Venari had conducted 3,336m of drilling in three campaigns for a total of 19 holes at Red Mountain. The company reports that across these three campaigns, almost every hole intersected ‘strong’ lithium mineralisation.
The project indicates high leachability of lithium up to 98% from scoping leachability testwork conducted by Venari.
Venari Minerals is progressing critical minerals and precious metals projects in Nevada, US.
Write to Maddison Elliott at Mining.com.au
Images: Venari Minerals
