VMS 0.00% 1.0¢ venture minerals limited

tin elephant at mount lindsay

  1. 5,349 Posts.
    lightbulb Created with Sketch. 21
    As the number of assays increase, we are starting to get a picture of how much tin there could be at Mount Lindsay. The major mineral is magnetite but the amount of tin in the magnetite skarns could be absolutely spectacular.

    I calculated weighted averages for tin assays for Main Zone and No 2 Zone and the arithmetic mean for the assays at Stanley River. I then averaged the three figures to arrive at an overall average of 0.28%. I stress that this is still a very crude calculation but it gives an indication of the potential for tin at Mt Lindsay.

    I estimate that the three zones tested so far contain 90M tonnes of magnetite. This magnetite is diluted in some 200M tonnes of mineralization but I will discount this by 50% and say there is probably a minimum of 100M tonnes of mineralization at Mt Lindsay containing an average of 0.28% tin. The mineralization is coarse, so tin recovery should be 90% or better. This means we can expect to extract about 0.25% tin.

    100M tonnes of mineralization X 0.25% tin = 250,000 tonnes of tin.

    The total length of magnetite skarn at Mt Lindsay is 7 to 10 times what has been tested already so the total amount of tin could be 7 to 10 times 250,000 tonnes. Take the smaller figure and discount it by 50% to get a conservative factor of 3.5. This gives us a conservatively estimated maximum size of 875,000 tonnes of tin in the ground at Mt Lindsay.

    So, I calculate the amount of tin in the ground at Mt Lindsay to be between 250,000 tonnes and 875,000 tonnes.

    For comparison, The largest known tin resource in Australia is currently Renison Bell which has 390,000 tonnes of tin. (http://www.stellarresources.com.au/user/media/Stellar_Tin_IPO.pdf) From memory, Renison Bell is about 25km SW of Mt Lindsay and is in a very similar geological environment.
watchlist Created with Sketch. Add VMS (ASX) to my watchlist
(20min delay)
Mkt cap ! $8.079M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
5 345587 0.9¢

Sellers (Offers)

Price($) Vol. No.
1.0¢ 1518472 1
View Market Depth
Last trade - 16.12pm 01/04/2020 (20 minute delay) ?
VMS (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.