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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.078 -0.172 (-68.80%)+
Announcement
Release
2 Feb 2026 10:46AM
Price at Release
$0.250
Full Release
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Summary
Venari Minerals NL announced the Maiden Mineral Resource Estimate (MRE) for the Red Mountain Lithium Project in Nevada, USA, establishing it as one of the largest new lithium developments in North America. The inferred MRE comprises 500 million tonnes at 1,139 ppm lithium, equating to 3.03 million tonnes of contained Lithium Carbonate Equivalent (LCE). The resources are divided between the Red Mountain North and Central areas, with high-grade lithium intersections. The project benefits from its location in a prime mining jurisdiction, supported by infrastructure and private water rights. Ongoing exploration and drilling efforts aim to upgrade resource classifications and expand the resource base. The announcement comes as lithium prices surge, enhancing the project's viability.
Key Points
  • Maiden Inferred Mineral Resource Estimate for Red Mountain Lithium Project: 500Mt @ 1,139ppm Li for 3.03Mt LCE.
  • Project is one of the most significant new lithium developments in North America.
  • Located in Nevada, benefiting from high-quality infrastructure and private water rights.
  • Plans for infill and extensional drilling to upgrade resource category and expand the resource.
  • Lithium prices have more than doubled recently, enhancing project viability.
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.