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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.125 -0.045 (-26.47%)+
Announcement
Release
9 Dec 2025 3:11PM
Price at Release
$0.170
Full Release
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Summary
Venari Minerals NL announced the results of a Reverse Circulation drilling campaign at the Needles Gold Project, Nevada, USA, revealing significant potential for a large-scale epithermal gold-silver system. The drilling, particularly at the Whopper Junior Prospect, showed strong geochemical anomalism with arsenic near the surface and antimony at depth, a pattern similar to the Pajingo mine in Queensland. An airborne magnetic survey identified a large demagnetised zone consistent with a significant epithermal system. The company is re-processing geophysical data to plan further exploration, emphasizing the project's deep potential. The Needles Project includes historical workings and covers 216 unpatented lode mining claims.
Key Points
  • Venari Minerals NL conducted a Reverse Circulation drilling campaign at the Needles Gold Project, Nevada, USA.
  • The drilling results indicated potential for a large-scale epithermal gold-silver system.
  • Best results were observed at the Whopper Junior Prospect with arsenic-antimony-mercury anomalism.
  • Geochemical zoning shows arsenic near the surface and antimony at depth, similar to Pajingo mine in Queensland.
  • A large demagnetised zone was identified through airborne magnetic survey data.
  • Further geophysical data re-processing is underway for future exploration planning.
  • Needles Project includes historical workings from early 1900s to 1920s.
  • The project includes 216 unpatented lode mining claims covering 18km2.
  • Future drilling aims to target deeper zones to unlock full potential.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.