Tando's 'massive' Christmas gift
21st December 2018
Resources Rising Stars
South African-focused Tando Resources has delivered its shareholders an early holiday gift by declaring a “massive maiden high-grade inferred JORC resource” at its SPD Vanadium project of 588 million tonnes at 0.78% vanadium pentoxide, including 80Mt at 1.07% V2O5 at surface (reports MiningNews).
The result is better than the original resource defined under South Africa's SAMREC regime of 513Mt at a grade of 0.78% V2O5, and managing director Bill Oliver has described it as "a potential tier one asset" given historical grades up to 2.2%.
"The delineation of high grade, near surface mineralisation provides an immediate focus for our metallurgical and mining studies," Oliver said.
"Our aim is to fast track a robust, viable near-term low capex production opportunity. Work during early 2019 will be focussed on development of this high grade zone, in addition to the potential high grade DSO contribution from the pipes."
If all goes right Tando could have some production within a year, and would need just $20 million to develop a 500,000 tonne per annum modular plant to produce a precursor product to V2O5 it can use to generate early cashflow.
It is anticipated that the high-grade vanadium pipes within the project area will be blended with the higher grade portions identified within the resource to enrich the feed to the magnetic separator in the early phases of production.
The company completed phase one drilling to assess the historical drilling, stepped out to drill a number of near surface pipes it had defined, and then stepped back to complete an infill program for 6002m.
Assays from the phase two drilling are still coming in, and the potential for further resource upgrades is likely.
It will spend undertake a scoping study on both the larger project, which would produce vanadium, and the near term low capex production option.
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