Tando Resources reveals ‘consistent high-grade’ assay results at SPD Vanadium Project

  • Jan 16, 2019 AEDT
  • Team Kalkine
Tando Resources reveals ‘consistent high-grade’ assay results at SPD Vanadium Project
Tando Resources Limited (ASX: TNO) announced ‘outstanding’ first assay results from its Phase 2 drilling program at the SPD Vanadium Project located in South Africa. The first infill drilling intersections have reportedly returned consistent high grades with surface results increasing the company’s confidence in development strategy.  On the numbers front, the results included a range of high-grade mineralization at the surface with the maximum intersection to date reported to 20m at 1.20% V2O5 from 86m, including 7m at 1.48% V2O. All intersection were reportedly whole-rock, or pre-concentrate grades while its magnetic concentrates are expected to be consistent with recent and historical results which yielded concentrate grades above 2% V2O5. The high-grade surface zones underscore the company’s move to fast track its near-term low CapEx production opportunity based on simple beneficiation including magnetic separation. The most remarkable feature of the results was the consistency between adjacent drill holes, both in analytical and geological sequence. These assay results come in line with recently released maiden JORC Resource of 588 million tonnes at a whole rock grade of 0.78% V2O5. The company stated that these consistent high-grade intersections could require a high proportion of the Mineral Resource to be upgraded into the Indicated category. SPD Vanadium Project lies in South Africa that is considered as one of the vanadium-rich regions. Currently, about 85% of the world’s vanadium is produced in Russia, China, and South Africa. Based on the tonnage and concentrate grade, SPD Vanadium project is said to have globally significant potential. On geographic lines, SPD Vanadium Project is reportedly located in a similar setting to the mining operations of Vametco, Rhovan, Mapochs in the Gauteng and Limpopo provinces of South Africa. Vanadium is considered as a highly demanded commodity due to its energy storage and battery usage in the electric vehicle. It is used explicitly in vanadium redox flow batteries (VRFB) which have a substantially longer lifespan than most current batteries. VRFB technology also has the ability to hold a charge for a substantial time and discharge 100% of its charge without damage. These are the leading factors that have the potential to fulfill the energy storage requirement of household or small sized towns. Currently, the demand for vanadium is further led by its use in steel making which is expected to fuel up with the recent implementation of stricter standards on the strength of steel to be used in construction. As per the company’s information, the price of more commonly traded intermediate product, i.e., >98% Vanadium Pentoxide (V2O5), has been stabilized at around US$16/lb following a substantial increase from US$3.50/lb at the start of 2017 to prices above US$30/lb. On the release of assay results, Tando Resources’ stock jumped up by 2.041% to last trade at $0.100 on 16 January 2019. Over the past 12 months, TNO has witnessed a positive price change of attractive 50.89%.

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