Tando Resources secures Mt Sydney zinc-lead exploration licence, considers a joint venture to unlock value
Tando Resources’ Mt Sydney project is adjacent to Rumble Resources’ Braeside project where up to 21% zinc has been discovered.
Vanadium explorer Tando Resources (ASX: TNO) has been granted the exploration licence for its wholly-owned Mt Sydney project in Western Australia, with the tenement giving up numerous anomalies during a previous versatile time domain electromagnetic (VTEM) survey.
Tando carried out the VTEM survey late last year and the company’s geophysical consultants reviewed the data and firmed up 17 near-surface anomalies.
Of the 17 anomalies, nine have been identified as high-priority based on several criteria including target strength, strike length and the correlation with prospective structures and lithological contacts.
Mt Sydney is adjacent to Rumble Resources’ (ASX: RTR) Braeside project where zinc and lead mineralisation was confirmed during Rumble’s 2017 drilling campaign and revealed notable intersections of 4m at 9.64% zinc and lead, 28m at 1.67% zinc and 1m at 21% zinc.
According to Tando, the major regional structures at Braeside extend directly into Mt Sydney.
Due to the correlation between early time near surface conductors and known structures in the area, Tando anticipates EM interpretation will help discovery new targets that have not yet been mapped.
To follow up on the anomalies, Tando has plans to get on the ground to collect detailed geological and geochemical information.
SPD vanadium project
However, Tando remains focussed on its SPD vanadium project in South Africa where it anticipates releasing a maiden resource shortly.
Phase one drilling at the project was recently completed, with the initial campaign aiming to convert an existing foreign SAMREC resource of 513.3 million tonnes grading 0.78% vanadium to JORC status.
Phase one drilling uncovered numerous high-grade intersections including 9m at 1.34% vanadium pentoxide and 10.5% titanium dioxide; 13m at 1.13% vanadium pentoxide and 7.43% titanium dioxide; and 14m at 1.08% vanadium pentoxide and 7.07% titanium dioxide.
When concentrated the intersections were 9m at 2.03% vanadium pentoxide and 14.2% titanium dioxide; 13m at 2.28% vanadium pentoxide and 12.9% titanium dioxide; and 14m at 2.36% vanadium pentoxide and 12.8% titanium dioxide.
Drilling is ongoing at SPD to fast-track a resource upgrade to indicated status, as well as identify the potential for a direct shipping ore operation where high-grade vanadium pipes have been discovered and have given up multiple insitu whole rock vanadium grades in excess of 2%.
As a result of its focus on SPD, Tando stated it will investigate selling on teaming up with another company to unlock the Mt Sydney’s value.