Date: Oct 12, 2018
Junior metals explorer Tando Resources (ASX: TNO) has received high-grade assay results from its SPD VanadiumProject in South Africa, barely a month since putting pen to paper to acquire the vanadium project which it describes to be as potentially “globally significant”.
Earlier today, the company announced “pre-concentrate grade” assay results of 7m at 0.84% vanadium oxide & 5.60% titanium oxide and 35m at 0.66% vanadium oxide & 4.59% titanium oxide.
The first results, combined with earlier grades of up to 2.2% vanadium oxide at a neighbouring drill site announced last month, indicate that Tando is exploring in the right area to declare a potentially declare a sizeable resource over the coming months.
The SPD project has a similar geological settings to Rhovan, operated by Glencore, Vametco operated by Bushveld Minerals) and Mapochs operated by International Resources – all located within close proximity of Tando in the Gauteng and Limpopo provinces of South Africa.
As of last month, Tando acquired a 74% stake in what it calls a “globally significant vanadium project” that has the potential to push the company into mid-tier status over the coming years – assuming exploration results deliver the company’s maiden resource that can rival those of its peers, in both grade and tonnage.
Its first drill-hole, VRC001, is part of Tando’s phase one drilling program targeting the well-established SPD deposit – a substantial vanadium deposit thought to contain an existing resource of 513 million tonnes at a grade of 0.78% vanadium oxide defined under the SAMREC code.
