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Venari Minerals NL (ASX:VMS)

ALERT: Price-sensitive ASX Announcement for VMS
Current share price for VMS : $0.095 -0.1 (-51.28%)+
Announcement
Release
18 Feb 2026 8:56AM
Price at Release
$0.195
Full Release
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Summary
Venari Minerals NL has announced a revised JORC-compliant Exploration Target for the Red Mountain Lithium Project in Nevada, USA, demonstrating significant upside and scale potential. The exploration target includes 10 prospective areas within the Red Mountain and Red Mountain Extension claim blocks, with a total estimated range of 2,020Mt to 2,690Mt at grades between 1,000 and 1,300ppm Li (0.53 and 0.69% LCE). The potential contained lithium is between 10.7 and 18.6Mt LCE. Exploration plans for 2026 include drilling and rock chip sampling, with further drilling anticipated in 2027 contingent upon results. The project is strategically positioned with secured water rights and proximity to key infrastructure, offering substantial resource development potential amid favorable federal policy support.
Key Points
  • Revised JORC-compliant Exploration Target for Red Mountain Lithium Project.
  • Significant upside and scale potential demonstrated.
  • Exploration target spans Red Mountain and Red Mountain Extension claim blocks.
  • Total estimated range of 2,020Mt to 2,690Mt at 1,000 to 1,300ppm Li.
  • Potential contained lithium between 10.7 and 18.6Mt LCE.
  • Exploration plans for 2026 include drilling and rock chip sampling.
  • 2027 drilling contingent upon 2026 results.
  • Project benefits from secured water rights and proximity to infrastructure.
  • Positioned to benefit from favorable federal policy on critical metals.
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.