Venari Minerals NL (ASX: ASE), previously known as Astute Metals NL, has successfully completed its Reverse Circulation (RC) drilling campaign at the Needles Gold Project located in Nevada, USA. This project focuses on key gold-silver targets, and the drilling involved eight holes, totaling 1,073 meters (3,520 feet). The targeted areas included the Arrowhead, Arrowhead East, Tomahawk, Eastern Shaft, and Whopper Junior prospects.
The preliminary findings from the drilling are promising. Summary logging indicated the presence of quartz veining and oxidation in all drilled holes. This is significant, as quartz veins typically host high-grade mineralisation, a characteristic that has historically been linked to successful mining operations at the Needles site. The observed oxidation is likely a result of the weathering of sulphide minerals associated with mineralisation. Samples collected during the campaign have been sent to the ALS Laboratory in Elko for assay, with results anticipated by the end of October.
Next Steps at Red Mountain Lithium Project
Following the completion of drilling at Needles, the RC drill rig has been moved to the Red Mountain Lithium Project, where drilling activities have commenced. This new campaign aims to complete a total of 13 drill holes over 2,990 meters. Additionally, there are three contingent holes that may also be drilled, depending on the results of the ongoing campaign.
The primary focus at Red Mountain is to target high-grade lithium mineralisation, particularly in the northern regions of the project. The drilling strategy includes exploring multiple mineralisation lenses in the central project area, extending down to a depth of 200 meters below the surface. The outcomes of this drilling campaign, combined with data from previous drill holes, are expected to contribute to a maiden Mineral Resource Estimate planned for the end of calendar year 2025.
Venari Minerals is not only concentrating on lithium but is also committed to discovering and developing critical metals required for the global energy transition. With a primary focus on lithium and copper, the company aims to advance its recent discoveries in Nevada, which is known as the battery metals capital of the United States, while also exploring for world-class copper-gold deposits in the Northern Territory.
