Venari Minerals NL, previously known as Astute Metals NL, has successfully completed Reverse Circulation (RC) drilling at its Needles Gold Project located in Nevada, USA. This drilling campaign, which involved eight holes totaling 1,073 meters (3,520 feet), focused on key gold-silver targets at various prospects, including Arrowhead, Arrowhead East, Tomahawk, Eastern Shaft, and Whopper Junior.
The drilling revealed the presence of quartz veining and oxidation across all holes, which is promising for future mineralisation. Historically, veins in this area have hosted high-grade mineralisation. The observed oxidation is likely due to the weathering of sulphide minerals associated with the mineralisation process. The samples collected during this campaign have been sent to the ALS Laboratory in Elko, with initial assay results expected by the end of October.
Transition to Lithium Exploration at Red Mountain
Following the completion of the drilling at Needles, the RC drill rig has been mobilised to the Red Mountain Lithium Project. Here, a new drilling campaign has commenced, comprising a total of 13 drill holes over 2,990 meters. There are also three contingent holes that may be drilled if necessary. This campaign is designed to target high-grade lithium mineralisation in the northern part of the project as well as multiple mineralisation lenses within the central area. The goal is to assess mineralisation down to a depth of 200 meters below the surface.
Results from this lithium drilling campaign, combined with data from existing drill holes, are expected to contribute to a maiden Mineral Resource Estimate, projected for completion by the end of calendar year 2025.
Venari Minerals is committed to creating value through the discovery and development of critical metal deposits essential for electrification and the global energy transition. The company is particularly focused on advancing its Red Mountain Lithium discovery in Nevada, a region recognized as a hub for battery metals, while also exploring for significant copper-gold deposits in the Northern Territory.
As Venari continues its exploration efforts, the industry will be watching closely for the results from both the Needles Gold Project and the Red Mountain Lithium Project, which could have significant implications for the company’s future.
