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).
TNO Price at posting:
16.0¢ Sentiment: Buy Disclosure: Held
