Date: Aug 02, 2018
The positive news from Tando Resources’ (ASX: TNO) SPD vanadium project continues after a heliborne magnetic survey identified more “outstanding” high-grade vanadium pipe targets, which Tando now aims to rapidly explore to build a potential direct shipping ore (DSO) operation that would generate early cash flow.
Earlier this year, surface sampling of the pipes returned multiple insitu rock chips that assayed above 2% vanadium.
“The nature of these anomalies gives us another tick and adds to the preliminary exploration we’ve already carried out across the pipes,” Tando managing director Bill Oliver told Small Caps.
He noted the helicopter magnetic survey had identified more anomalies that haven’t been subjected to sampling or mapping, including a 400m by 400m cluster in the project’s north-east.
The helicopter magnetic survey also revealed the vanadium pipes are much bigger than Tando initially thought, with one particular cluster measuring 600m by 600m.
“These magnetic results strongly support our view that the pipes could be sufficient to host a DSO operation, which would be very low-cost to establish and operate,” Mr Oliver said.
“They would then be able to provide an early source of cash flow while we undertake technical and economic studies on the larger SPD vanadium deposit.”
Mr Oliver added the company was looking at flying in a heli-rig rather than bringing in one over land. He said this would enable drilling to start earlier.
SPD drilling program
As a result of the survey, Tando plans to begin drilling at the pipes at the same time as the main SPD deposit.
