Tando has early success at SPD vanadium project
Published 17-SEP-2018 14:57 P.M.
|
2 minute read
Hey! Looks like you have stumbled on the section of our website where we have archived articles from our old business model.
In 2019 the original founding team returned to run Next Investors, we changed our business model to only write about stocks we carefully research and are invested in for the long term.
The below articles were written under our previous business model. We have kept these articles online here for your reference.
Our new mission is to build a high performing ASX micro cap investment portfolio and share our research, analysis and investment strategy with our readers.
Click Here to View Latest Articles
Tando Resources’ (ASX:TNO) first two holes at its SPD Vanadium Project in South Africa have intersected the mineralised unit based on visual identification of magnetite in diamond core and RC chips.
This is highly significant because the mineralised unit comprises a series of magnetite layers, which is well established as the host rock for the vanadium mineralisation at SPD.
The first diamond drill hole (VDD001) intersected the mineralised unit between 32 metres and 49 metres downhole and the first RC drill hole (VCR001) intersected the mineralised unit from surface.
The results are made more significant by the fact that VDD001 is located 150 metres from historical drill hole SPD014, as indicated below.
This returned whole rock/pre-concentrate assays of 25 metres at 0.67% vanadium oxide (V2O5), with samples from the same interval generating a magnetic concentrate grading 1.99% V2O5.
Of course TNO still has a lot of work to do here, so investors should seek professional financial advice if considering this stock for their portfolio.
Correlation with established data
Hole VDD001 is also located 170 metres from historical hole SFR008, which returned assays of 44 metres at 0.66% V2O5 and generated an outstanding magnetic concentrate grade of 2.26% V2O5 from the same interval as announced on March 22, 2018.
Hole VRC001 is located 150 metres from historical hole SFR007, which returned strong assays of 22 metres at 0.80% V2O5 and a magnetic concentrate grading 2.03% V2O5.
Hole VRC001 is also located 150 metres from historical hole SFR009, which returned assays of 23 metres at 0.65% V2O5 and a magnetic concentrate grading 2.20% V2O5.
Highlighting the significance of the correlation between the results and previous data, managing director Bill Oliver said, “These initial results are an excellent start in converting the high-grade ‘foreign’ resource at the SPD Vanadium Project to JORC status.
“These first two holes mark the ideal start to our drilling program due to their correlation with historic drilling results and we look forward to strong results continuing through the rest of the drilling program.”
JORC Resource by October
Both RC and diamond drilling is ongoing at SPD with the drilling focusing on converting the existing high-grade resource to JORC status, as well as testing the potential of the surrounding high-grade vanadium pipes to support a Direct Shipping Ore (DSO) operation.
Phase One of the drilling program will comprise 18 holes for 1650 metres at the SPD deposit, where there is 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.
Tando expects the JORC-compliant Mineral Resource Estimate (MRE) will be published by the end of October, 2018.
General Information Only
S3 Consortium Pty Ltd (S3, ‘we’, ‘us’, ‘our’) (CAR No. 433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information and is for informational purposes only. Any advice is general advice only. Any advice contained in this article does not constitute personal advice and S3 has not taken into consideration your personal objectives, financial situation or needs. Please seek your own independent professional advice before making any financial investment decision. Those persons acting upon information contained in this article do so entirely at their own risk.
Conflicts of Interest Notice
S3 and its associated entities may hold investments in companies featured in its articles, including through being paid in the securities of the companies we provide commentary on. We disclose the securities held in relation to a particular company that we provide commentary on. Refer to our Disclosure Policy for information on our self-imposed trading blackouts, hold conditions and de-risking (sell conditions) which seek to mitigate against any potential conflicts of interest.
Publication Notice and Disclaimer
The information contained in this article is current as at the publication date. At the time of publishing, the information contained in this article is based on sources which are available in the public domain that we consider to be reliable, and our own analysis of those sources. The views of the author may not reflect the views of the AFSL holder. Any decision by you to purchase securities in the companies featured in this article should be done so after you have sought your own independent professional advice regarding this information and made your own inquiries as to the validity of any information in this article.
Any forward-looking statements contained in this article are not guarantees or predictions of future performance, and involve known and unknown risks, uncertainties and other factors, many of which are beyond our control, and which may cause actual results or performance of companies featured to differ materially from those expressed in the statements contained in this article. S3 cannot and does not give any assurance that the results or performance expressed or implied by any forward-looking statements contained in this article will actually occur and readers are cautioned not to put undue reliance on forward-looking statements.
This article may include references to our past investing performance. Past performance is not a reliable indicator of our future investing performance.
