Red Mountain Lithium Project Nears Critical Resource Milestone Amid Open Mineralisation

Strong Drilling Results Bolster Red Mountain Potential

Venari Minerals NL (ASX, VMS) has released further assay results from its October 2025 Reverse Circulation drilling campaign at the 100%-owned Red Mountain Lithium Project in Nevada, USA. The latest batch includes four drill holes, RMRC019, RMRC020, RMRC024, and RMRC025, that reveal extensive lithium mineralisation with multiple high-grade zones. These results complete the drilling dataset for the project's central zone, setting the stage for a maiden Mineral Resource Estimate (MRE) expected in December.

Notable Intersections Highlight Project Scale

Among the standout results, drill hole RMRC019 intersected a combined 166.1 metres of lithium mineralisation, including intervals grading up to 1,480 parts per million (ppm) lithium. RMRC020 delivered 56.4 metres of mineralisation with grades reaching 1,610 ppm lithium near surface. RMRC024 and RMRC025 also returned thick zones, with RMRC025 featuring 115.9 metres of mineralisation including high-grade sections exceeding 1,600 ppm lithium. These wide and consistent intercepts reinforce the project's potential as a significant lithium claystone deposit.

Strategic Location and Geological Context

Located in central-eastern Nevada, adjacent to a major highway, Red Mountain lies within a geological setting known for lithium-rich tertiary lacustrine sediments. This environment is comparable to other major lithium projects in Nevada, such as Lithium Americas’ Thacker Pass and American Battery Technology Corporation’s Tonopah Flats deposits. The claystone-hosted lithium mineralisation is believed to result from weathering of volcanic glass and geothermal inputs, a model supported by consistent assay results across multiple drilling campaigns.

Pathway to Resource and Development

With the central zone drilling now complete, Venari is poised to deliver its maiden Mineral Resource Estimate next month, a critical milestone that will provide a clearer picture of the project's scale and grade distribution. The company also anticipates assay results from the northern zone drilling campaign shortly, which could further enhance the resource base. Early metallurgical testwork indicates high lithium leachability and potential for beneficiation, supporting the project's economic viability.

Leadership Perspective and Next Steps

Venari’s Chairman, Tony Leibowitz, expressed confidence in the project’s trajectory, highlighting the broad lithium intercepts and high-grade zones as evidence of Red Mountain’s exceptional potential. The company plans to advance technical studies following the MRE, aiming to progress the project towards development. Investors and analysts will be watching closely for the upcoming resource estimate and northern zone assay results, which will be pivotal in defining the project's future.