Venari’s Red Mountain ascending towards Scoping Study
Drilling Campaign Underway to Define Maiden Resource
This refers to Venari’s ongoing resource drilling at the Red Mountain Lithium Project. The goal is to collect enough geological data to support a Maiden Mineral Resource Estimate (MRE) — a formal calculation of how much lithium is present, its grade, and confidence levels, targeted for completion by the end of calendar year 2025.
Upcoming Assays and Metallurgical Results Set to Drive Near-Term Catalysts
This highlights the short-term value drivers for investors. Assay results from 14 drillholes (i.e., lab analysis showing lithium grades) and metallurgical testwork (tests to determine if the lithium can be economically extracted and upgraded to battery-grade) are expected in the coming months — offering potential share price catalysts before the MRE.
Strong Lithium Intercepts Expand Project Potential
Venari has reported “excellent” clay-hosted lithium intercepts, which confirm the presence of lithium in new areas and with greater continuity than before. This supports the possibility of a larger and more consistent resource, increasing the overall scale and value of the project.
Permitting and Land Consolidation Strengthen Project Footprint
Beyond drilling, Venari is making key progress in securing permits and consolidating land tenure. This means it is gaining the legal rights and regulatory approvals needed to operate more freely across the Red Mountain basin — essential groundwork for development and long-term viability.
2026 Scoping Study to Chart Path Toward Development
Looking ahead, Venari plans to complete a Scoping Study in 2026. This is a preliminary economic assessment that outlines potential mining methods, processing routes, expected costs (capex/opex), and project scale. It’s a crucial step toward de-risking the project and attracting development partners or funding.
2026 Scoping Study to Chart Path Toward Development
Looking ahead, Venari plans to complete a Scoping Study in 2026. This is a preliminary economic assessment that outlines potential mining methods, processing routes, expected costs (capex/opex), and project scale. It’s a crucial step toward de-risking the project and attracting development partners or funding.
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