SPD vanadium project shows high-grade potential for Tando

A specimen from the SPD project. Image: Tando Resources.

Tando Resources has returned grades in excess of 2 per cent V2O5 from surface samples taken at the SPD vanadium project in the Bushveld Complex of South Africa.

In March, Tando secured an agreement to acquire 74 per cent of the SPD project. The company expects to finalise this deal in the next fortnight following due diligence.

Tando, during a recent site visit, took samples from outcropping magnetite pipes at SPD, returning assays of 2.08 per cent V2O5 and 2.02 per cent V2O5.

According to Tando, the pipes outcrop as semi-circular to elliptical bodies between 100–400m long and around 100m across.

Tando emphasised that these returns were whole rock results and not concentrate grades. The company added the results compared favourably to the average in situ grade of the SPD project, which is estimated to be 0.78 per cent V2O5, based on historical drilling.

“These pipes, also described as iron-rich pegmatites, are almost wholly comprised of magnetite similar to the vanadiferous titanomagnetite layers previously drilled at the SPD vanadium project,” the company stated in an ASX announcement.

The SPD project is located in one of the three leading regions that contribute around 85 per cent of global vanadium production. It is close to existing infrastructure, only 30km from the dormant Mapochs mine, which has a processing plant and railway.

Tando is one of many aspiring vanadium companies on the Australian Securities Exchange (ASX) being supported by a surge in prices for the commodity. Vanadium was trading for around $US3.50/lb at the start of 2017, but has risen to above $US15/lb in recent months.

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