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Tando Resources Ltd.
Summary
| Project: | SPD | |
|---|---|---|
| Deposit: | SPD | |
| Location: | South Africa | |
| Commodities: | Vanadium | |
| Date: | 10/12/2018 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 12-10-2018: Tando Resources Ltd. announces an Exploration/Drilling Update report for its SPD deposit at the SPD project. Drilling results incl. 9m @ 1.12% V2O5 from 73m. Tando Resources (ASX: TNO, Tando or the Company) is pleased to announce the first ass | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bill Oliver (Internal) | |
| ABSTRACT: | Tando Resources (ASX: TNO, Tando or the Company) is pleased to announce the first assay results received from its drilling at the SPD Vanadium Project, located in South Africa. These results are whole-rock, or pre-concentrate grades. Historical drilling adjacent to VRC001 returned magnetic concentrate grades above 2.2% V2O5 (refer Figure 2 and ASX release 17 September 2018). VRC001 is part of the Phase One drilling program which targets the well-established 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) and is detailed in Appendix 1 below. The aim of Phase 1 is to allow a maiden Mineral Resource compliant with the JORC Code to be calculated. Drilling of Phase 1 is well advanced (refer Figure 3 and Appendix1) and is anticipated to be completed early next week with the resource to be published next month following receipt of assays from all drillholes. Drilling will then move to provide the first test of the potential of the surrounding high-grade vanadium pipes at SPD to support a Direct Shipping Ore (DSO) operation. As part of drilling activities, the drilling contractor has recruited employees from the local communities, assisted by Tando, which is expected to be the first of many opportunities for the project to provide benefits such as employment and training for these communities. Tando is also preparing for the Phase Two drilling program at SPD, which will be aimed at upgrading the maiden JORC Resource to an Indicated category (provided results are as anticipated). To achieve this goal, Phase Two is currently designed to comprise 58 holes for 5,550m. The cost to complete the entire Phase 1 and Phase 2 drilling programme and the resultant resource estimations is estimated at A$1.4 million. The Company is fully funded for the drilling programme as well as the metallurgical and mining studies which will follow completion of the drilling programme. | |
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