An updated high-grade shallow resource for ASX-listed Tando Resources' SPD vanadium project, in South Africa, underpins the potential for a low-cost, near-term operation, MD Bill Oliver said on Tuesday.
The company announced a new Joint Ore Reserves Committee- (Jorc-) compliant mineral resource estimate for the high-grade component at the SPD project of 169-million tonnes at 1.07% vanadium pentoxide (V2O5) in the indicated and inferred categories.
This includes 97-million tonnes at 1.05% V2O5 within 100 m of surface and also includes 68-million tonnes at 1.05% V2O5 in the indicated category.
The previous high-grade surface resource was 80-million tonnes at 1.07% V2O5, all of which were in the inferred category.
The global Jorc-compliant mineral resource at SPD is now 612-million tonnes at 0.78% V2O5, compared with the previous estimate of 588-million tonnes at 0.78% V2O5 and includes 231-million tonnes at 0.78% V2O5 in the indicated category.
Meanwhile, a scoping study on the project will be completed in the coming weeks. The study will focus on the economic and technical merits of establishing a near-term production operation based on the high-grade surface resource.
“This has immense potential to be a low-cost operation due to the combination of the high-grade material, its shallow nature and the highly attractive metallurgical characteristics,” commented Oliver.