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Tando Resources Ltd.
Summary
| Project: | SPD | |
|---|---|---|
| Deposit: | SPD | |
| Location: | South Africa | |
| Commodities: | Vanadium | |
| Date: | 1/16/2019 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-1-2019: Tando Resources Ltd. announces an Exploration/Drilling Update report for its SPD deposit at the SPD project. Drilling results incl. 20.0m @ 1.20% V2O5 from 86.0m. Tando Resources (ASX: TNO, Tando or the Company) is pleased to announce outstandi | |
| Resources: | (Resource, Inf.): 588Mt @ 0.78% V2O5 | |
| CP/QP: | [Overall Report]: Bill Oliver (Internal) | |
| ABSTRACT: | Tando Resources (ASX: TNO, Tando or the Company) is pleased to announce outstanding first assay results from its Phase 2 drill program at the SPD Vanadium Project, following the release of its maiden JORC Resource of 588 million tonnes at a whole rock grade of 0.78% V2O5 (refer Appendix 1). The latest assays include further high grade near surface results which demonstrate the potential for development of the SPD Vanadium Project via open pit mining What is notable about the above results is the consistency between adjacent drillholes, both in analytical results and in the geological sequence, which should enable a high proportion of the Mineral Resource to be upgraded into the Indicated category when the Mineral Resource is updated later in Q1 2019. In addition, the increased detail from the infill drilling will enable the higher-grade massive magnetite layers to be better delineated, increasing the potential for selective mining to meet offtake specifications. Only a few diamond core holes from the Phase 2 drilling programme remain to be processed and delivered to the laboratory for analysis. The Company is fully funded for the forthcoming resource work as well as the metallurgical and mining studies which are in progress currently. | |
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