Venari Minerals NL (ASX:VMS, OTC:ASMTD) has significantly expanded the exploration horizon at its 100%-owned Red Mountain Lithium Project in Nevada, outlining a revised JORC 2012-compliant Exploration Target of between 2,020Mt and 2,690Mt grading 1,000–1,300ppm lithium.
The updated target equates to between 10.7Mt and 18.6Mt of contained lithium carbonate equivalent (LCE), positioning Red Mountain among the more substantial sedimentary lithium systems emerging in the United States.
Combined revised Exploration Target for the Red Mountain Lithium Project. Note – The Red Mountain Extension Claims are located on a Wilderness Study Area which is part of a draft Nye County Public Lands Bill that recommends this land be re-classified for multiple use, including exploration, however this requires approval by Congress. Currently no ground disturbing exploration (i.e. drill pad preparation) is possible, however surface sampling may be undertaken.
The revision follows the recent maiden Inferred Mineral Resource Estimate (MRE) of 500Mt at 1,139ppm lithium for 3.03Mt LCE, reported at a 700ppm lithium cut-off grade. With the initial resource now established, Venari has turned its focus to quantifying broader project-scale upside.
“The company recently released a landmark maiden Mineral Resource Estimate for the Red Mountain Lithium Project, revealing a large lithium Resource with a very high-grade component in the north of the broader project area," Venari CEO Matthew Healy said.
“The announcement of a revised Exploration Target complements the maiden MRE by demonstrating the substantial upside potential at the project.
“With the Trump Administration prioritising fast-tracked permitting and development of domestic critical metals projects, Venari is exceptionally well-placed to continue rapidly unlocking the significant value of the Red Mountain discovery for our shareholders. I look forward to getting the drill rigs back on site as soon as possible to focus on upgrading the MRE category, increasing the size of the MRE and drill testing a portion of this outstanding Exploration Target, bringing new zones of mineralisation into the Resource pipeline.”
Red Mountain and Red Mountain Extension soil sample geochemistry, MRE and Exploration Target Areas.
Updated target builds on maiden 3.03Mt LCE resource base
The maiden MRE defined 500Mt at 1,139ppm lithium (0.61% LCE), including a higher-grade northern component of 91.6Mt at 1,618ppm lithium (0.86% LCE).
The newly defined Exploration Target extends well beyond the existing resource footprint and comprises 10 discrete areas across the Red Mountain and Red Mountain Extension claim blocks.
For the core Red Mountain claim block alone, Venari has outlined a target range of 1,200–1,600Mt at 1,000–1,300ppm lithium for 6.39–11.1Mt LCE.
Exploration Target for the Red Mountain Claim block.
At the Red Mountain Extension claim block, the target adds a further 816–1,090Mt at similar grades for 4.35–7.53Mt LCE.
Combined, the project-scale exploration potential now ranges from 10.7Mt to 18.6Mt LCE.
The company notes the Exploration Target is conceptual in nature and there has been insufficient exploration to define a Mineral Resource across these broader zones.
Geological model underpinned by surface anomalism and drilling dataset
The exploration target areas were digitised using coherent zones of greater than 50ppm lithium soil anomalism across mapped prospective sedimentary units.
The grade range of 1,000–1,300ppm lithium is derived from percentile analysis of 1,790 drill samples assaying ≥500ppm lithium across the project, with 1,000ppm representing the 50th percentile and 1,300ppm the 70th percentile.
Venari has completed substantial groundwork at Red Mountain to date, including:
- 819 soil samples across the main claim block
- 250 rock chip samples
- 32 diamond and reverse circulation drill holes
Notably, two drill holes collared within Exploration Target Area H returned significant lithium intersections, including:
- 33.5 metres at 1,260ppm lithium from 19.8 metres (RMRC010)
- 44.2 metres at 905ppm lithium from surface (RMRC011)
These results demonstrate that parts of the broader exploration envelope are already mineralised and support the conceptual tonnage and grade assumptions.
Infrastructure and metallurgy strengthen project fundamentals
Red Mountain benefits from favourable infrastructure positioning, located adjacent to Route 6, approximately 20 kilometres from a 525kV transmission line, and supported by secured water rights of 592,000m³ per annum linked to a nearby 113-acre private property.
Scoping leachability testwork has indicated lithium recoveries of up to 98%, varying with processing conditions, while beneficiation testwork has demonstrated potential to upgrade mineralisation.
The project is hosted within Tertiary lacustrine sediments equivalent to those that host major Nevada lithium deposits, including Thacker Pass and Tonopah Flats.
2026 drilling to test four high-priority target zones
Venari has outlined a structured exploration plan to systematically advance the expanded target inventory.
At the Red Mountain claim block, the company intends to:
- Drill target areas B, D, E and H in 2026
- Conduct rock chip sampling across areas A, C, F and G in 2026
- Progress to drilling A, C, F and G in 2027 subject to results
At the Red Mountain Extension claim block, which sits within a Wilderness Study Area, ground-disturbing exploration is currently restricted. However, rock chip sampling across areas I and J is planned for 2026, with drilling to start should legislative changes permit surface disturbance.
Separately, Venari is finalising drill-hole designs for the 2026 campaign, which is expected to begin following the Nevada winter. The program will include:
- Infill drilling to upgrade parts of the MRE from Inferred to Indicated
- Extensional drilling to expand the existing resource
- First-pass exploration drilling into new target areas
- Upside narrative shifts from discovery to district-scale growth
With a maiden 3.03Mt LCE resource already defined and a revised exploration target of up to 18.6Mt LCE now outlined, Venari is transitioning from initial discovery to broader district-scale evaluation.
The updated exploration target materially expands the company’s growth pipeline at Red Mountain, highlighting the scale potential of the sedimentary lithium system beyond the current resource footprint.
While conceptual in nature, the target provides a framework for systematic drilling and resource expansion across what is shaping up to be a large-scale lithium system in Nevada.