Ann: High Grade Vanadium Pipes at SPD Project, page-2

5 July 2018

Further high-grade assays highlight

potential for near-term DSO vanadium at

SPD Project

Exceptional grades of more than 2% vanadium from surface show scope for low-cost operation with short lead time

Key points

•   20 samples from 12 vanadium pipes at the SPD Vanadium Project in South Africa return further high-grade assays.
  
  
•   Seven of these samples returned assays that exceeded 2% vanadium oxide, which is higher than many significant operating vanadium mines globally.
  
  
•   The average grade of the samples is 1.87% vanadium oxide.
  
  
•   The pipes, which extend from surface, sit within a 3km radius of the existing
  
  vanadium deposit at SPD, which has a “foreign resource” of more than 500Mt.
  
  
•   Tando is preparing an extensive drilling program to bring this historic resource into JORC Code compliance
  
  
•   This drilling program includes holes to test the high-grade vanadium pipes. Tando Resources (“Tando” or “the Company”) is pleased to report more high-grade vanadium
  
  assays from samples taken from the surface at its SPD Vanadium Project in South Africa.
  
  The assays come from 20 samples taken from 12 vanadium pipes (Figures 1 – 3). These pipes extend from surface and sit within a 3km radius of the SPD vanadium deposit, which has a substantial resource of over 500Mt defined using the SAMREC (South African) code. This qualifies as a “foreign resource” as defined by the ASX Listing Rules (detailed in Table 1 below and in the ASX Announcement of 22 March 2018).
  
  The latest results are considered important because they provide more firm evidence of the potential for these pipes to underpin a low-cost, high-grade DSO operation with a short development timetable.
  
  The new results include seven high-grade samples of more than 2% V2O5, in addition to the samples reported previously (refer ASX Announcement 7 May 2018).