In light of these strong results, Tando has decided to expedite plans for a maiden drilling program at these vanadium pipes with a view to establishing a low-cost DSO operation as soon as possible
To help fast-track this strategy, Tando is investigating flying in a heli-rig rather than bringing in a drilling rig over land (this is expected to enable drilling to start earlier than if earthmoving was required)
In addition the Company is commissioning a marketing study into the potential market and pricing for the DSO product, specifically the product specifications desired by end users
The vanadium pipes surround the SPD deposit, where there is currently a resource of 513 million tonnes at a grade of 0.78% V2O5 defined under the SAMREC code. This resource is a “foreign resource” (as defined in the ASX Listing Rules)
Drilling at the SPD deposit will be aimed at converting the current “foreign resource” to a Mineral Resource estimate (MRE) as defined in the JORC Code
Tando recently received notification of grant of the Mining Right for the SPD Project by the South African Department of Mineral Resources, paving the way for drilling to start during August at both the SPD deposit and the surrounding pipes
Managing Director Bill Oliver said discussions were underway with a heli-rig contractor with a view to starting the drilling campaign on the pipes at the same time as the Phase 1 drilling at the SPD Project
I don't know the cost of a helicopter but the speed to drill and JORC for SH is very encouraging.
There's something in them there hills by crikey. ⚒⛏
TNO Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
