ASX-listed Tando Resources on Wednesday announced encouraging first assay results from its Phase 2 drill programme at the SPD vanadium project, in the Bushveld Complex of South Africa.
The results included 14 m at 0.98% vanadium oxide from surface, 11 m at 0.99% vanadium oxide from 17 m and 10 m at 1.17% vanadium oxide from 35 m, which demonstrated the viability of developing the SPD project through openpit mining.
Tando said the consistency between adjacent drill holes, 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 update later in the first quarter, was notable.
The maiden Joint Ore Reserves Committee-compliant mineral resource estimate at SPD is 588-million tonnes at a whole rock grade of 0.78% vanadium oxide.
Further, 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, Tando said.
Tando remained fully funded for the forthcoming resource work, as well as the metallurgical and mining studies that were under way.