Venari Minerals is advancing what could become the third highest-grade lithium resource in the United States — and the company is focused on building 20 high-margin years, not a century-scale operation.

Managing Director Matt Healy joins The Hole Truth to unpack the scale and grade of the resource, including a 47.9Mt high-grade zone grading just under 2,200ppm lithium. He explains why beneficiation and 98% leach recoveries could materially reduce acid consumption — the key operating cost lever in sedimentary lithium — and how upcoming infill drilling aims to convert the current Inferred resource to higher-confidence categories.

The discussion also explores the accelerating U.S. critical minerals policy backdrop, shortened permitting timeframes, and growing strategic interest from Japan and South Korea as global lithium supply chains realign.

For investors, the pathway is clear: resource upgrade, metallurgy, scoping study financials — and potential re-rating catalysts along the way.

Guest: Matt Healy

Company: Venari Minerals

Matt Healy is Managing Director of Venari Minerals, a U.S.-focused lithium exploration and development company advancing a high-grade sedimentary lithium project. Healy has extensive experience in resource project development, capital markets, and corporate strategy, with a focus on identifying and advancing critical minerals assets with strong geological fundamentals and strategic positioning.

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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Company Website: https://venariminerals.com

High-Grade Lithium Resource Positioned Among the Top in the U.S.

Venari Minerals’ project ranks as the sixth highest-grade lithium resource in the United States on a headline basis. More notably, its northern high-grade zone—at 47.9Mt grading just under 2,200ppm lithium at a higher cut-off—would rank as the third highest-grade lithium resource in the country if standalone. Grade concentration at scale is a critical differentiator in sedimentary lithium economics.

Targeting 20 High-Margin Years Rather Than Maximum Scale

While mega-projects such as Thacker Pass host more than 60Mt of contained lithium carbonate equivalent (LCE), Venari’s strategy is capital discipline over size. The company is targeting approximately 20 high-grade, high-margin production years rather than pursuing century-scale mine life. This approach aligns capital intensity with realistic financing pathways and return optimisation.

Metallurgical Results De-Risk Operating Cost Profile

Scoping-level leachability testwork has achieved up to 98% lithium recovery, an exceptional outcome for sedimentary-hosted lithium. Beneficiation testwork upgraded material from ~1,000ppm to ~2,400ppm lithium while retaining 85% of contained lithium and rejecting 65% of waste. Critically, this has the potential to halve acid consumption—typically the largest operating cost line item—materially improving project economics.

Clear Pathway to Resource Upgrade and Re-Rating Catalysts

The current resource is entirely Inferred, presenting a clear pathway for value creation through infill drilling and conversion to Indicated and Measured categories. Resource confidence upgrades historically support market re-ratings, particularly when coupled with additional metallurgical validation. A scoping study targeted by year-end is expected to deliver the project’s first financial framework.

Strategic Tailwinds from U.S. Critical Minerals Policy

Recent U.S. executive actions focused on energy security and critical minerals are accelerating permitting and unlocking government-backed financing channels. Institutions such as the Development Finance Corporation and the Export-Import Bank are increasingly active in critical minerals funding, while strategic stakes in domestic producers signal policy support. Growing investment interest from Japan and South Korea—particularly amid tariff-driven supply chain realignment—further enhances the strategic optionality of high-grade U.S. lithium assets like Venari’s.

In this episode of The Hole Truth, Bellavista Resources Managing Director Glenn Jardine outlines the investment case for the Pickle Crow Gold Project in Ontario, Canada.

With 2.8 million ounces in current resources and 1.5 million ounces historically produced, Pickle Crow is already a large-scale gold system. Glenn discusses why the next phase of value creation lies in near-mine resource extensions, underexplored regional targets, and the application of modern exploration techniques across a historically rich gold belt.

The conversation also covers Bellavista’s A$35 million funding position, strong institutional backing, and how the company is positioning itself for resource growth and value accretion in one of Canada’s most prolific gold districts.

Glenn Jardine is a mining executive with experience across gold exploration, project acquisition, and capital markets. He is the Managing Director of Bellavista Resources, where he is leading the acquisition and advancement of the Pickle Crow Gold Project in Ontario, Canada, with a focus on resource growth, near-mine extensions, and regional exploration upside.

Produced by Resource Media

The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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The Hole Truth Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/

The Hole Truth Instagram: https://www.instagram.com/theholetruthpodcast/

Company Website: https://bellavistaresources.com.au/

Established Gold Asset with Significant Scale

The Pickle Crow Gold Project already hosts a 2.8Moz gold resource, with a further 1.5Moz historically produced between 1935 and 1966 at grades of approximately 0.5oz/t. This places the project’s combined gold endowment above 4Moz, providing a strong platform for future resource growth.

Near-Mine Extensions Offer Immediate Upside

Initial drilling is expected to focus on areas close to existing workings, targeting resource extensions and potential new discoveries. This strategy allows Bellavista to pursue relatively low-risk growth while building momentum early in the exploration program.

Underexplored Regional Potential

Large portions of the broader landholding remain lightly drilled, despite sitting within a highly mineralised gold belt. Modern aeromagnetic and LIDAR surveys completed in 2023 represent the first systematic application of contemporary exploration tools, highlighting early-stage but material discovery potential.

Well-Capitalised Exploration Strategy

Bellavista completed a two-stage capital raise totalling approximately A$35 million as part of the acquisition, exceeding its original funding target. Strong institutional support provides the balance sheet capacity to fund both near-mine drilling and later-stage regional exploration.

Strategic Positioning in a Prolific Gold Belt

The project is located within a gold belt that has produced or hosts more than 40Moz of gold, reinforcing its geological credentials. Relative to peers, the company offers leverage to exploration success and potential valuation uplift as drilling results and resource growth are delivered.

Trek Metals could be on the cusp of a world-class manganese discovery in WA's

Kimberley region. Extremely high-grade manganese has already been outlined

over 750 metres, and geophysics suggests it could be much, much bigger than

that.

The company is working through an exploration program that will culminate in

a drilling program in the next three months.

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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Peninsula Energy has overcome its challenges at the Lance Uranium Project in the US and is now generating solid results, as shown by the share price. MD George Bauk has been in the job for a year and has delivered some excellent results, with more to come.

George Bauk is the Managing Director and Chief Executive Officer of Peninsula Energy. He is an experienced resources executive with a background in mine development, operations, and corporate leadership across the energy and mining sectors. Since taking the helm at Peninsula Energy, George has overseen a strategic and operational turnaround at the Lance Uranium Project, focusing on execution discipline, cost control, and alignment with improving uranium market fundamentals.

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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Operational Reset at Lance Delivers Results

Leadership Stability Driving Execution

Uranium Market Tailwinds Strengthen the Investment Case

US-Based Production Offers Strategic Advantage

Share Price Reflects Improving Fundamentals

Black Bear Minerals (ASX: BKB) has just acquired a silver project in Texas. It's the highest-grade silver resource on the ASX. The company has an aggressive drilling

program already underway, with assays set to come in the new year. The

exploration program will take place in conjunction with the ongoing work at the

company's gold project in Nevada.

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The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

RESOURCES

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YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7

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Instagram: https://www.instagram.com/theholetruthpodcast/ 

Company Website: https://blackbearminerals.com.au/

E-79 has just acquired the Cue Gold Project. This is becoming a very hot region in WA — a project known to host mineralisation and sharing geological features with other big deposits nearby.

Ned Summerhayes – Chief Executive Officer, E79 Gold Mines

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Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions.

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The newly acquired Cue Gold Project sits between major operators Westgold and Ramelius, providing E79 with a prime address in a region experiencing renewed exploration success. The area is already known to host gold, reducing geological risk and offering potential access to existing processing infrastructure.

Historic drilling averaged only 42m in depth, with just 2% of holes drilled deeper than 100m — despite nearby deposits demonstrating high-grade mineralisation at depth. Intercepts such as 13m at 2.2g/t ending in mineralisation highlight the possibility of deeper, higher-grade systems yet to be tested.

E79 controls the southern extension of the Great Fingall Dolerite and titanium-rich basalts analogous to Break of Day — both highly fertile gold hosts. Gravity surveys will help identify cross-cutting structures now understood to control mineralisation in the district, sharpening the drill-targeting strategy.

With approximately $4.5 million in cash and an enterprise value of roughly $1 million, E79 is well funded to execute its exploration plans. Upcoming work includes detailed gravity surveying, broad aircore drilling, and targeted RC drilling across multiple prospects.

E79’s Northern Territory project adds diversification, with rock chips returning up to 9% bismuth alongside copper and gold. Seasonal constraints mean drilling will resume after the wet season, allowing the company to focus on Cue in the interim while maintaining exposure to emerging critical-metal markets.

AusQuest (ASX: AQD) believes it has a major porphyry discovery on its hands in Peru. It’s already returned some fascinating drilling results with mineralisation intersected over huge widths. Managing Director Graeme Drew believes it’s yet to find the “eye” of the porphyry system and that’s what the current drilling programme is about. If he’s correct, the company’s market cap of A$56 million could do just about anything.

Guest Bio

Credits

Links

Key Insights

Scale Emerging at Cangallo – AusQuest’s early drilling has defined a large footprint of near-surface copper-gold mineralisation, with broad intercepts extending hundreds of metres from surface. This supports the interpretation of a significant porphyry system still in its early stages of delineation.

Location Provides Material Cost Advantages – Unlike many Andean porphyry deposits situated in remote high-altitude terrain, Cangallo sits near the Peruvian coast at relatively low elevation. This improves logistics, reduces potential infrastructure hurdles and enhances long-term development optionality.

Eye of the System Still to Be Found – Geological indicators suggest current drilling is positioned on the edge or upper levels of the porphyry system. The ongoing RC and diamond programs are designed to vector toward the higher-grade core, which could materially change the project’s scale and economics.

Early-Stage Drilling Indicates Consistent Mineralisation – Intercepts to date show consistent copper grades across large widths, with oxide mineralisation from surface and sulphides appearing at depth. The presence of tonalite dykes carrying higher grades provides encouragement that the main intrusive centre is nearby.

Significant Re-Rating Potential – With a current market capitalisation of A$56 million, AusQuest remains lightly valued relative to the potential scale of a major porphyry discovery. As drilling advances and assays confirm grade trends toward the interpreted core, the company could enter a transformational phase.

Nimy Resources’ (ASX: NIM) maiden gallium resource is one of the highest-grade in the world at more than 100 g/t, and the western world is desperate for non-Chinese gallium supply. Nimy says it can help meet that need. The resource is already significant but Managing Director Luke Hampson tells us there is huge scope for growth. The company is also advancing its copper exploration programmes in WA.

Guest bio:

Links:

Key Insights:

Exceptional grade for a niche metal Nimy has announced a maiden inferred JORC resource at its Block 3 deposit of 7.23 Mt grading 102 g/t gallium, totalling approximately 740 t contained. This positions it among the highest-grade gallium resources known globally.

Strong supply-chain positioning Gallium is classified as a critical metal, with global production dominated by China. A high-grade Western-jurisdiction supply source such as Nimy provides strategic diversification for international markets seeking secure supply.

Significant upside and exploration optionality The maiden resource covers only a small portion of the mineralised footprint. Broader exploration targets suggest potential for substantial growth through further drilling across a 30 km² anomalous zone.

Synergies with other commodities and projects Beyond gallium, Nimy continues to advance promising copper and base-metal targets within the Mons Project. This reinforces multi-commodity optionality as exploration accelerates.

Emerging funding and offtake momentum Interest from US and European groups, alongside engagement with critical-minerals partners, positions Nimy to potentially access government-backed funding and secure future offtake pathways.

Everyone knows the nickel price is down, but Centaurus Metals (ASX: CTM) MD Darren Gordon says that's why there's a great investment opportunity. The company is in talks with potential partners regarding its Jaguar Nickel Project in Brazil, it also has active copper and gold exploration activity in the country.

Mr Gordon is a Chartered Accountant with over 25 years’ experience in the mining industry as a senior finance and resources executive. Mr Gordon has had extensive involvement in financing resource projects from both a debt and equity perspective and is a non-executive Director at Ordell Mineral Limited. Mr Gordon has over 15 years’ experience operating in Brazil and as a result has a deep understanding of the regulatory framework and general operating environment required to develop a mining project in country. 

Produced by Resource Media

The Hole Truth: Mining Investment Podcast is a product of Read Corporate.

Please note that Read Corporate does not provide investment advice and investors should seek personalised advice before making any investment decisions. 

RESOURCES

LinkedIn: https://www.linkedin.com/showcase/the-hole-truth-podcast

YouTube: https://youtube.com/playlist?list=PLI4sZkSfEpPi_u7OrD7lQ-tZHbdy6EhCC&si=iOcGscff7kMSw8c7

Website: https://resourcesrisingstars.com.au/the-hole-truth-podcast/

Instagram: https://www.instagram.com/theholetruthpodcast/ 

Company Website: https://www.centaurus.com.au

Centaurus Metals is positioning its Jaguar Nickel Project in Brazil as a classic counter-cyclical investment, taking advantage of the current downturn in nickel prices (around US$15,000/t) to prepare for the next upswing. Gordon believes the market has hit its floor and that investors entering now could see significant upside as prices recover

Centaurus is advancing strategic partnering talks with downstream players seeking sustainable nickel supply for the EV battery sector. The goal is to secure a minority partner with offtake and equity funding, enabling development of the US$400 million Jaguar Project while maintaining operational control. A partnership announcement could trigger a major share price re-rating within the next few months

Jaguar’s economics remain robust even at current prices, with all-in sustaining costs (AISC) of ~US$4.40/lb, placing it in the lowest cost quartile globally. The project’s low-carbon footprint and nickel sulphide resource differentiate it from Indonesia’s environmentally damaging laterite operations, making it highly attractive to Western EV supply chains

Alongside Jaguar, Centaurus is expanding into copper-gold exploration in Brazil’s Carajás region, including the Boi Novo and Rio Novo projects. These assets offer exposure to high-grade copper intersections (up to 35 m @ ~1.8% Cu)and the potential for short-term share price catalysts through upcoming drilling results

After a successful capital raise in August, Centaurus plans to deploy funds for both Jaguar’s development and new drilling programs at Boi Novo. With near-term exploration newsflow and an imminent funding deal, the company is offering investors two growth pathways—nickel development and copper-gold discovery—positioning it strongly for a 2026 value uplift.