Delays Push Venari’s Red Mountain Resource Estimate to Q1 2026 Amid High-Grade Discovery

Exceptional Lithium Intersections at Red Mountain

Venari Minerals NL (ASX, VMS) has announced a breakthrough in its ongoing exploration at the Red Mountain lithium project in Nevada, USA. The latest drill-hole, RMRC013, has delivered the highest-grade lithium intersection recorded at the project to date, intersecting a combined 109.7 metres of lithium mineralisation. This includes a standout 24.4 metres grading 4,270ppm lithium, underscoring the project's potential to host a significant high-grade lithium resource.

The drilling campaign, completed in October 2025, aimed to test mineralisation down-dip from previous high-grade intercepts, particularly from hole RMDD003. RMRC013 not only confirmed the tenor of lithium mineralisation but also extended the known mineralised zone to approximately 150 metres below surface, reinforcing the scale and quality of the deposit's northern area.

Strategic Implications and Market Context

Chairman Tony Leibowitz highlighted the strategic importance of these results, noting that the high-grade core in the northern sector is now better defined and expanded. This development comes at a time when lithium market sentiment is improving rapidly, positioning Venari to capitalise on growing demand for battery metals essential to electric vehicles and renewable energy storage.

While the assay results for three additional drill holes from the campaign remain outstanding, their imminent arrival is eagerly anticipated by investors and analysts alike. The maiden Mineral Resource Estimate (MRE), initially expected sooner, has been rescheduled to Q1 2026 due to delays at North American assay laboratories. This MRE will be a critical milestone, providing a formal quantification of the resource and underpinning future development plans.

Geological Setting and Technical Highlights

The Red Mountain Project is situated within tertiary lacustrine sedimentary rocks known as the Horse Camp Formation, a geological setting analogous to other major lithium deposits in Nevada such as Lithium Americas’ Thacker Pass and American Battery Technology’s Tonopah Flats. The lithium mineralisation is hosted in claystone, believed to have formed through weathering of lithium-bearing volcanic glass and geothermal inputs.

Technical testwork has demonstrated high lithium leachability of up to 98%, alongside beneficiation processes that can upgrade the mineralisation significantly. These metallurgical characteristics enhance the project's attractiveness by suggesting efficient lithium extraction is feasible.

Looking Ahead

Venari’s October drilling campaign has solidified Red Mountain’s status as a promising lithium discovery with a strong high-grade core. As the company awaits the final assay results and prepares for the maiden MRE, market participants will be watching closely for how these developments translate into project valuation and potential partnerships or financing opportunities.