Australian mineral exploration company Venture Minerals has reported the latest drill results from the Company's flagship Mt Lindsay Tin/Tungsten Deposit in North-West Tasmania.

Diamond core drilling has intersected up to a 70m wide zone of tin mineralization at the Reward Prospect, located only 3km from the Company's Mt Lindsay Deposit.

The discovery is situated within the "Red Rock Member" which already hosts the world class Renison Bell Tin Mine only 12.5km to the south.

The success of the first hole combined with the high grade trench results at surface and the proximity to a world class tin deposit suggests there is significant potential for the Reward Prospect to host a substantial tin discovery.

Any future success at Reward would have a substantial economic impact on the Mt Lindsay Project as the prospect is located only 3km from the Company's major tin/tungsten deposit.

Venture Minerals is targeting a minimum of 40mt of inferred iron resources at Mount Lindsay which it believes a scoping study would show the project should support a 10 year mining operation.

The Tin LME price is $US18,000 and more than two-and-a-half the price of copper, with the average grade of large hard rock deposits worldwide – 0.4% Sn.

China is the world's largest producer and consumer of tin.

Additional drilling has already been planned to follow up on the success of RW001, with drill holes both down dip and along strike scheduled for completion over the coming weeks. With over 6km of the Red Rock Member located within Venture's tenure the Company believes there is considerable scope for future exploration success.

Venture Minerals Managing Director Hamish Halliday said the aggressive drill program continued with five drill rigs targeting multiple tin and tungsten zones throughout the Mt Lindsay Project as the Company completes a 10,000m diamond core program over the coming months.

This announcement effectively lifts the trading halt that the Company requested on Monday 18 January 2010.