Venture Minerals Completes PFS on Tasmania Project

6 March 2011 (Last Updated March 6th, 2011 18:30)

Venture Minerals has completed a pre-feasibility study (PFS) on the Mt Lindsay tin / tungsten project in north-west Tasmania that confirms its 'robust economics'. The study concluded that the capital cost of the 1.3 million ton per annum processing plant was A$155m (US$157m) including 1

Venture Minerals has completed a pre-feasibility study (PFS) on the Mt Lindsay tin / tungsten project in north-west Tasmania that confirms its 'robust economics'.

The study concluded that the capital cost of the 1.3 million ton per annum processing plant was A$155m (US$157m) including 15% contingency for direct and indirect costs.

The study showed recovery of 73% tin, 84% tungsten, 95% magnetite and 60% copper, using all processing techniques.

Venture Minerals managing director Hamish Halliday said the study's financials suggested that the Mt Lindsay project had the potential to transform the firm into a successful mining company.

"Following completion of the PFS, we can now commence a bankable feasibility study (BFS) as well as continuing to maintain an aggressive approach [to] exploration," he said.

The BFS will include additional infill drilling on the main and no.2 skarns, as well as more detailed assessments of mining, process design, transport and environment.