Venture Minerals Limited (ASX:VMS, OTC:VTMLF) has identified the presence of borate minerals in tin-boron zones at the Mount Lindsay Tin-Tungsten Project in Tasmania with boron being a critical mineral used in the solar panel industry.
Given its critical mineral status in Australia and abroad, the company has decided to pursue the exploration and production of boron alongside tin and tungsten at Mount Lindsay, with the help of CSIRO’s metallurgical studies and recovery work.
A recently completed CSIRO study commissioned by Venture confirmed that both China and Russia commercially extract large volumes of boron, tin and iron from deposits just like those at Mount Lindsay.
Part of the European Commission’s Critical Raw Materials Act, boron is considered vital to the green energy transition.
Boron to be included in studies
“The value of the Mount Lindsay project, as a potential supplier of critical minerals to the globe, has been further enhanced by the potential to extract the rare light metal boron, an important and versatile element in the modern world, used in everything from computer screens to fertilisers to creating powerful magnets for wind turbines and EVs,” Venture Minerals managing director Andrew Radonjic said.
“In addition to being a significant tin-tungsten deposit, Mount Lindsay also has the potential to be a large-scale boron project, similar to producing projects in China and Russia, particularly when you consider the multitude of targets outside the Main and No.2 Skarns containing significant quantities of boron with tin and iron.
“The company will now look to define the process of extracting the boron along with the other already proven critical minerals tin and tungsten.
“Venture looks forward to continuing to advance its feasibility studies and delivering results at its flagship Mount Lindsay Project over the coming months.”
Apart from applications in solar panels, as much as 50 kilograms of boron is used in electric vehicle (EV) manufacture.
Australia currently does not produce boron domestically but relies on large shipments from Türkiye.
Assay results
Results from the Main Skarn zone include:
- 20 metres at 0.86% boron, 0.12% tin, 22.8% iron and 0.04% tungsten from 324 metres;
- 28 metres at 1.06% boron, 0.28% tin, 28% iron and 0.08% tungsten from 138 metres;
- 24 metres at 0.88% boron, 0.31% tin, 24.7% iron and 0.24% tungsten from 123 metres; and
- 96 metres at 0.73% boron, 0.09% tin, 20.8% iron and 0.27% tungsten from 207 metres.
No.2 skarn zone:
- 22 metres at 0.67% boron, 0.20% tin, 21.5% iron and 0.01% tungsten from 36 metres; and
- 20 metres at 0.62% boron, 0.19% tin, 27.8% iron and 0.01% tungsten from 63 metres.
Waterhouse skarn:
- 75.3 metres at 0.31% boron, 0.08% tin and 15.6% iron from 92.7 metres; and
- 20 metres at 0.61% boron, 0.11% tin, 19.5% iron and 0.01% tungsten from 299 metres.
Livingston skarn: 30 metres at 0.88% boron, 0.28% tin and 40.7% iron and 0.27% tungsten from 196 metres.
Big Wilson skarn: 18 metres at 1.00% boron, 0.48% tin and 37% iron and 0.04% tungsten from 211 metres.